Line of Credit

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Related to Revolving Loan: Revolving Loan Fund

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 ?
In terms of standardized financing service, ICBC has launched "Online Revolving Loan", an online self-service revolving loan service in 2009.
The summit provides in depth training and insight into the GMS accounting and revolving loan systems, and industry training on topics related to accounting and financial management for nonprofit accounting professionals.
The county has partnered with Lane Council of Governments, which will administer the revolving loan fund, Levis said.
Her Majesty stopped by Al Hamra Military Retirees Association -consumer market project- and attended a meeting at Al Hamra Social Development Society with representatives of the various charitable and cooperative societies in Hosha, youth communities and the beneficiaries from the revolving loans program.
29 million through the revolving loan, which was guaranteed by the company and its principals, under a false representation about the firm's financial condition.
The revolving loan program is designed to provide short-term, low-interest financing to farmers and food producers who may not be able to secure a loan elsewhere.
The group is to receive a CAD20m revolving loan from HSBC Bank Canada.
The new revolving loan replaces the prepayment arrangement and is secured by Air Canada's interest in Air Canada Vacations.
The EPA offers three categories of brownfield grants: assessment, cleanup, and revolving loan funds.
720, the Water Quality Financing Act of 2007, would authorize $14 billion over four years for the Clean Water State Revolving Loan Fund and was strongly supported by members of Congress from both parties.
4 million, 202 revolving loan fund grants totaling $186.
Bloomberg, New York City Housing Development Corporation (HDC) President Emily Youssouf and Banc of America Securities' Phil Smith announced a low cost, innovative venture to increase the construction of affordable cooperative developments as a result of a Bank of America revolving loan fund of $100 million and loan financing provided by HDC.