A financial agreement under which a bank or other lender agrees to provide a client with loans of money up to an approved limit during a predefined period. The client may borrow the entire credit amount all at once or in portions during the specified period
This is a financial institution's commitment to lend your business up to a certain amount of money during a specified period For example, your financial institution might extend you a $50,000 line of credit during the first quarter of 2000
An agreement by a bank or financial institution to extend credit up to a specific amount for a certain period of time to a specified borrower See home equity line of credit
A loan extended by a lender for a specified amount and time period Sometimes these are know as letters of credit Generally, the borrower can take specific amounts up to the limit,repay it at any time, and draw it again
The amount of credit that may be extended to a borrower by a lender This type of arrangement gives a borrower more flexibility in planning for operating expenses
An agreement by a commercial bank or other financial institution to extend credit up to a certain amount for a certain time to a specific borrower A home equity line of credit is secured by the a mortgage against the borrower's home
Agreement whereby a financial institute promises to lend up to a certain amount without the need to file another application The borrower is expected to reduce the debt after having reached the full amount of credit
A very flexible form of loan in which the lender agrees to make a certain amount of money available to the borrower at a certain rate of interest The borrower may use as much of the amount available as she wishes and may pay out all or any part of the amount owing at any time or re-borrow such funds at her leisure
Agreement by a bank that a company may borrow at any time up to an established limit Linked Deposit A deposit in an account with a financial institution to induce that institution's support for one or more projects By accruing no interest or low interest on its deposit, a foundation essentially subsidizes the interest rate of the project borrowers Loan Agreement A written contract between a lender and a borrower that sets out the rights and obligations of each party regarding a specified loan
A maximum credit limit allowed by a bank to a borrower, as long as the borrower maintains an acceptable balance on account or has a good credit rating The credit line will vary from time to time according to the changing circumstances of the borrower or the bank
An agreement by a commercial bank or other financial institution to extend credit up to a certain amount for a certain time to a specified borrower See home equity line of credit
An agreement negotiated between a borrower and a lender which establishes the maximum amount against which a borrower may draw The agreement also sets out other conditions, such as how and when money borrowed against the line of credit is to be repaid
A type of credit which offers an individual immediate access to any portion or all of a pre-determined amount of cash upon demand A line of credit may be either unsecured or secured with personal assets such as bonds, term deposits or equity on a home A secured line of credit results in lower risk to the financial institution and a lower rate of interest to the individual