Line of Credit

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Related to Revolving Line: Revolving credit facility, Available Credit

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 company has borrowed approximately $645,000 under the revolving line of credit facility to repay the company's existing line of credit facility with PFG, which was due to mature on December 15, 2006.
Speciality biopharmaceutical company Santarus Inc (NASDAQ:SNTS) on Tuesday announced that it has increased its revolving line of credit with Comerica Bank.
The revolving line of credit is likely to be utilised to offer working capital for exploration and production operations, and to acquire proven producing oil and gas properties.
The term or type of loan will vary by lending institution; however, in general, these loans are non-committed, demand loans that may be priced with either a fixed rate for a period of time or a variable rate for a revolving line of credit.
NASDAQ: ASGN), a leading global provider of diversified professional staffing solutions, today announced the refinancing of its existing term loan facility and revolving line of credit.
26 August 2011 - US Conceptus Inc (NASDAQ:CPTS) said today it has entered into a new revolving line of credit arrangement with Wells Fargo Bank, N.
Provider of processing solutions AMD (NYSE: AMD) announced on Tuesday that the company and its subsidiary, AMD International Sales & Service Ltd, have entered into a loan and security agreement for a principal amount up to USD500m, or the secured revolving line of credit, with a group of lenders.
Secures Three Year Revolving Line of Credit of up to $175 Million
The credit facilities, as amended, consist of an existing five-year $250 million revolving line of credit and a new three-year $90 million term loan.
0m senior secured credit facility, comprising of a senior revolving line of credit and a senior term loan, to professional engineering services firm, Modular Process Control LLC, in Chesterfield, Missouri adding that proceeds of the financing will be used for debt refinancing, to finance growth projects and as working capital.
The revolving line of credit matures on December 19, 2011, while the term loans mature on December 19, 2013.
The Company had previously announced on September 1, 2006 that it had expanded its existing revolving line of credit to $200,000,000 from $150,000,000.