Line of Credit


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Line of Credit

The maximum borrowing power granted to a person from a financial institution.

Line of credit denotes a limit of credit extended by a bank to a customer, who can avail himself or herself of its full extent in dealing with the bank but cannot exceed this limit. It most frequently covers a series of transactions, in which case, when the customer's line of credit is nearly exhausted or not replenished, the customer is expected to reduce the indebtedness by submitting payments to the bank before making additional use of the line of credit.

See: capital
References in periodicals archive ?
Once a line of credit is issued, Signet relies on the company to provide regular reports on receivables and financial progress.
5 million first mortgage for a 78-unit co-op located at 37-51 86th Street in Jackson Heights, NY; a $2 million first mortgage and a $200,000 line of credit for a 132-unit co-op located at 855 East 7th Street in Brooklyn, NY; a $2 million line of credit for a 289-unit co-op located at 17-85 215th Street in Bayside, NY; a $1.
It is likely that if a satisfactory renewal or replacement of the Technology Funding line of credit cannot be obtained in the near future, the company will seek some form of protection from creditors.
How, then, can you improve your chances of qualifying for a line of credit for your business?
In addition, the convenience of being able to draw as needed against a line of credit has proved to be a particularly attractive feature of the credit line account.
5 million first mortgage and a $250,000 line of credit for a 38-unit co-op located at 62 West 114th Street in Manhattan; a $1 million line of credit for a 120-unit co-op located at 3535-3555 Kings College Place in Bronx, N.
5 million first mortgage and a $1 million line of credit for Laurelton Gardens, a 384-unit co-op located at 131-42 234th Street in Laurelton, NY.
We are pleased to begin this relationship with Healthaxis and support their growth with this new line of credit," said Robert Sureck, senior relationship manager, SVB Silicon Valley Bank.
6 million first mortgage and a $300,000 line of credit for a 300-unit co-op located at 181 Long Hill Road in Little Falls, NJ; a $3.
Many will finance growth by reinvesting profits (46%), but one in five (20%) will take out either a bank loan or a line of credit, 4% will seek out private investors, 3% will borrow money from friends or family, and 2% will use venture capital sources to fund growth.
6 million in loans in November, including a $16 million first mortgage and a $500,000 line of credit for Cherokee Owners Corp.
Financial institutions are providing a line of credit solution that bridges the HSA cash flow gap.