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 ?
The revolving loan is an arrangement which allows for the loan amount to be withdrawn, repaid, and redrawn again in any manner and any number of times, until the arrangement expires.
Some of the most highly attended sessions will be offered, again, this year including: Cost Allocation Options, Month-End Processing, Report Writer Basics; and Revolving Loan Servicing Software Setups, Master Files and Schedules.
RNB has entered into an agreement with Konsumentforeningen Stockholm which grants RNB the right to extend the maturity of the revolving loan by one year, extending the maturity of the revolving loan to May 2017.
Separate from the revolving loan fund, the economic development grant program was started about a decade ago, Mizejewski said, and has helped dozens of local businesses buy equipment and hire workers.
There are five charities in the area including, AlHarsh Society which carries out a revolving loans project, goat breeding project, and a training center on the use of computers and the Internet, in addition to the Association of Al Hamra for people with special needs which is implementing a beekeeping project and computer center.
In addition, the Vermont Agency of Commerce and Community Development is receiving $450,000 in supplemental funding to bring their Brownfields Revolving Loan Fund grant to $2,450,000.
The relationship with the bank extends as far back as 1997, and the revolving loan account was renewed annually until the loan went into default in the summer of 2009.
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 $100,000 is a revolving loan funds grant, awarded to eligible entities that in turn serve as banker for independent parties to take loans out against and perform the brownfields cleanup.
The 110th Congress reversed previous attempts by the Administration to drastically cut funding for the Clean Water Revolving Loan Fund program, which had been slated to be eliminated.