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 ?
319 million euros of this credit line have so far been used by 1,583 small and medium enterprises, which have invested this money in just as many projects thus creating 6,441 jobs," said Finance Minister Zoran Stavreski.
According to the operator, the credit line was increased to KZT 3 billion from KZT 2.
6 billion credit line with Iran in July 2013 which has been used partly for oil imports and partly for Iranian-made consumer goods, bankers have said.
In consideration of such extension, Cardero will issue to the Lender 27,500,000 transferrable common share purchase warrants exercisable at the same price, and for the same term, as the Credit Line Warrants ("Note Extension Warrants").
The European Commission said that it has approved a credit line for Bulgaria, according to Reuters.
The manner in which the Government created this credit line hit the target, so that these companies export agriculture products, collect funds and pay farmers", stressed Stavreski.
Neo-classical economic theory suggests the following: Accepting the hypothetical credit line does not cause any financial cost.
The annex increased the amount of the credit line by 300,000,000
Parlux said the interest rate on the credit line was lowered to 0.
Krispy Kreme also said it was working with an unnamed lending group to replace the credit line that could have gone into default as early as Friday.
Swiss International Air Lines has revealed that a small Swiss bank has cut its credit line to the carrier.
Attorney's Office and the Securities and Exchange Commission came one day after Computer Associates disclosed it had drawn $600 million from one credit line to pay off another, amid signs that it is having difficulty raising money through the debt markets.

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