Line of Credit

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Related to Revolving Loans: Revolving credit facility, Revolving Loan Funds

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 ?
The maturity date for the term loans and revolving loans was also extended by three years.
The Poverty Pockets Program productivity projects implemented in the district include the Consumer market (Al Hamra Military Retirees Association), a Productive kitchen at Faa social development society and the revolving loan program which has been implementation through Hosha district Cooperated Society, and has benefited more than 50 individuals to date.
The new credit facility provides the Company with US $520 million of US A term loans, [euro]335 million of Euro A term loans, Cdn $81 million of Canadian A term loans and a US $800 million multicurrency revolving loan facility.
0bn multi-currency revolving loan facility that matures on 14 January 2020, which have a flexibility among other things such as making acquisitions, paying dividends, repurchasing stock and incurring further debt.
Though IntegraMed possesses a healthy balance sheet with cash and cash equivalents of approximately $40 million at May 26th, we felt the extension and expansion of our credit facilities out to May 2013, particularly on a revolving loan basis, was prudent and will better align our working capital needs with our growth strategy.
The $2,000,000 block on revolver availability that had been put in place in connection with certain waivers provided by CIT in the past has been eliminated and the interest rate on both the revolving line of credit and term loan has been reduced by 25 basis points from the applicable levels on the old credit facility to prime on the revolving loan and prime plus 0.
TSX:VTS)(NYSE:VTS) announced today that it has entered into a new five-year $85 million revolving loan agreement with a syndicate of banks led by Wells Fargo Bank, National Association, as U.
Initially, for the A term loans and revolving loans the margin will be 1.
The proceeds of the term loan were used to repay the pre-existing $65 million term loan and outstanding revolving loans, as well as transaction fees and expenses, including a prepayment premium.
SLFT is invested primarily in senior secured loans and revolving loans, which are marked to market weekly, and an overcollateralization (OC) test is required to be met daily.
At the time of closing, the Company will have approximately $92 million drawn in revolving loans and have approximately $37 million in letters of credit issued thereunder.