line of credit

  1. Noun.  (finance, banking) 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.
  2. Noun.  (finance, banking) The maximum borrowable amount specified in such an agreement.

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This entry was last updated on RefTopia from its source on 3/20/2012.