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 ?
For several weeks, E&P has been been featuring entries from the bureau's blog Inside Iraq, which provides one of the most chilling running accounts of life in Baghdad.
Judy said the team was delighted with the boost in turnover and the benefits that running accounts in house brought to their service.
Researchers then hovered around the plot clutching tape recorders to dictate running accounts of insect visits, which exceeded 3,000 by the end of the experiment.
Instead they use computers as tools to automate the jobs they always have done manually-- performing write-ups, calculating 1040s or running accounts receivable aging analyses.
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