Line of Credit
Line of credit is a common type of loan in which a borrowing “cap” is established and borrowers can use the credit at their discretion. Lines of credit require periodic interest payments.
Line of Credit is a pre-approved credit facility (usually for one year) enabling a bank customer to borrow up to the specified maximum amount at any time during the relevant period of time.
Line of credit is a maximum amount that a commercial bank agrees to lend to a business borrower if it has the funds available.
Line of credit means a preapproved amount of money the holder may borrow, in whole or in part, provided the bank has funds available.
Category: Entrepreneurship & Small Business
Previous: ← Single-purpose Loan
Next: Lease →
More from this Section
- Franchisee
Franchisee refers to an individual or firm that enters into a franchise agreement and ... - Cost leadership strategy
Cost leadership strategy is the Generic strategy in which firms strive to have the lowest ... - Embargo
Embargo legislation that prohibits firms from importing some or all of the products made ... - Cancellation provision
Cancellation provision is the process of comparing and evaluating alternatives in order ... - Intent-to-use trademark application
Intent-to-use trademark application is an application based on the applicant’s intention ...