An agreement to extend credit to a borrower under specified conditions. See Home Equity Line of Credit (HELOC).

A loan commitment for a sum of money to be drawn against in increments during a specific period of time, usually under a loan agreement containing all of the terms and conditions controlling the line of credit.

Lender willingness of extending credit to borrower up to the figure specified. It is not a commitment to lend. Normally reviewed annually but subject to cancellation without notice.

Credit that remains available to a customer at all time s. An agreement between a bank and a borrower to borrow up to a specified amount. [D02963] PMDT

Amount of money a bank will lend to one of its most reliable and creditworthy customers without the need for a formal loan submission. A customer's line of credit is subject to periodic reviews of the customer's credit standing and the overall banking relationship.

The maximum business loan amount available through commercial line of credit from Merrill Lynch Business Financial Services (MLBFS).

Credit limit extended to a business which may be drawn upon when required by the business. There are no payments due on the line of credit unless the business actually borrows the money.

A prearranged loan allowing borrowing up to a certain maximum amount.

An agreement negotiated between a borrower and a lender that 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.

An informal loan arrangement between a bank and a customer allowing the customer to borrow up to a prespecified amount.

The amount of money made available by a client's bank.

A type of credit facility. The specific meaning of the term varies from bank to bank. Since the various uses often cause confusion, two definitions are presented here. In this book, the second definition is used.(1) A type of loan that permits a borrower to draw funds, up to a specified maximum, for a defined period of time. Sometimes called a nonrevolving line of credit. (2) Any loan that permits the borrower to borrow funds up to a specified maximum, make repayments in any amount at any time, and obtain any number of readvances so long as the maximum is not exceeded. Sometimes called a revolving line of credit. The distinguishing feature of a line of credit is that it rebounds, which means that the amount borrowed can be paid down and reborrowed, or readvanced, as the borrower's needs change.

An open-ended arrangement for a company to borrow and repay debt at its discretion, subject only to a maximum limit.

A form of loan in which the borrower draws funds as needed, up to a specified maximum.

The amount of money that a company may borrow from a bank.

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.

The maximum pre-approved amount that an individual or business can borrow without filing another application.

An amount of money, which a business or individual... more

Up to a certain maximum, consumers may borrow any amount for a specified time under a line of credit. Revolving credit accounts such as credit cards and home equity lines of credit are examples of lines of credit.

Agreement between the company and a creditor, usually a bank, to have access to financing. The line of credit is used for short-term financing, and is useful for seasonal needs where the company might need to carry a higher amount of inventory or account receivable.

1. A guideline amount of credit that a customer receives after a financial and subjective evaluation; 2. The maximum amount of credit extended by a bank.

A loan with a maximum credit limit that allows the borrower(s) to disburse funds up to the maximum credit line as needed. Funds may be disbursed repeatedly as the principal balance is paid down up to the maximum credit limit available. A line of credit functions similar to a credit card and may be accessed by writing a check or a using a debit card.

A revolving line of credit accessed by cheque book that you can use again and again, up to the credit limit, for any worthwhile purpose.

A financial institution will extend a line of credit for a certain time and amount through an agreement with the borrower.

Also called a Revolving Line Of Credit or an Equity Loan. A loan with a continuing pre-set limit ie the limit doesn't reduce over time. Funds are generally able to be used for any purpose, including shares, renovations, personal, or an investment property. Interest rate is usually at a slight premium to the standard variable rate.

a set amount of money that a company can draw against from a lending institution, like a loan except that the borrower only pays interest on the amount actually used

Funds provided by a lender up to a maximum amount, normally payable on demand.

A credit limit established by a creditor.

the maximum credit that a customer is allowed

a better option than an outright loan because the credit line often carries no closing costs

a better solution, but they usually have fixed limits

a continuing, revolving credit facility

a convenient, low-cost way to borrow without having to

a fixed amount of money (the actual figure is based on your income and assets) a lender extends to you to fund a large purchase or act as a fail-safe for an unforeseen emergency

a flexible type of loan having certain characteristics in common with a credit card

a form of borrowing money called a revolving credit instrument

a loan from the Bank

a loan that works much like an ordinary credit card

a loan with a borrowing limit that's based on your credit history

a long-term commitment by a commercial lender to honour the day-to-day cheques of a business up to a maximum figure agreed to in consultation with the business

a mechanism available directly to the borrower/issuer with flexibility (as defined in the line's agreement) in the use of funds

an agreement between a commercial bank and the equipment operator that allows the operator to borrow the amount of unsecured short-term loans the bank will make available during a given time period (typically one year)

an agreement that permits the firm to borrow up to a predetermined credit limit at any time during the life of the agreement

an agreement wherein lender is obligated to advance to a borrower

an arrangement between a bank and a customer concerning the maximum loan balance the bank will permit the borrower at any one time

an arrangement in which a bank or other financial institution extends a specified amount of unsecured credit to a specified borrower for a

an expressing by a lending entity of the maximum amount it is willing to lend to a particular customer over a future length of time

a non-binding commitment by a bank to occasionally loan money to a company, as it needs it

a non-binding commitment by a lender to lend up to a specific amount from time to time

a pre-approved loan that lets you borrow money up to a pre-set credit limit, usually by writing checks

a revolving credit line secured against a residential property allowing access to funds whenever you need them

a revolving loan that allows you to continuously borrow off an existing loan up to your credit limit

A type of loan in which a borrower draws down funds as needed, up to a specified maximum.

The limit of the amount of money a lender will give a particular customer.

Pre-approved credit of a specified amount that allows the borrower to draw funds on demand.

the maximum amount of money a bank or other financial institution will lend an individual or company – кредитÐ1/2ий ліÐ1/4

A financial institution's commitment to lend your business the maximum of a certain amount of money during a specified period. For example, you might receive a $50,000 line of credit during the first quarter of any given year.

A line of credit is generally issued by a bank. It is not a loan, but an pre-agreement to lend. If assets are pledged the line of credit amount is considered a contractual obligation of the bank. Some consider a line of credit as capital, because it is a quick access to cash. A line of credit is also called un borrowed money. It is there in the bank reserved for you waiting to be borrowed. The advantage is that because it is not yet borrowed, no interest is due or payable, yet, the business or person enjoys the security of it being available, anytime, without any hassle.

A predetermined amount of credit immediately accessible to use as you need, and pay for only as you use.

See Revolving Credit Mortgage

A pre-approved amount of credit a bank is willing to lend to a borrower for future use.

A line of credit works like a credit card, except you don't charge purchases. Instead, a person with a line of credit would use checks to make purchases which are drawn on a line of credit rather than on an amount on deposit. A line of credit will have a maximum amount, like a credit limit.

The amount of short-term credit available to a business from banks.

A means of short-term borrowing from a bank to meet cash flow challenges. Should be used for income timing problems, not for profitability problems.

Line of Credit also known as an equity home loan, is when the lender assigns you a credit limit secured against your property, and when you need cash you draw against that limit, usually by writing a cheque or using a special debit card. As you pay back the loan (the terms of repayment vary), the money becomes available to you to use again.

A type of loan which allows a borrower to withdraw funds, up to a preapproved credit limit, in a way similar to the way they use a credit card. Borrowers make payments based only on the amount they've actually withdrawn plus interest.

A commitment, by a bank or other lender, to lend money to a borrower up to a maximum amount during a stated period.

a stipulated amount of money made available to a borrower. The borrower can borrow within that amount at any time.

A pre-established amount that can be borrowed on demand

Open-ended loan that allows future advances based on a pre-approved limit.

A loan with a specified maximum, from which funds can be taken at any time up to that maximum amount.

Similar to a business loan, except that the borrower only pays interest on the amount actually used. Much like a credit card, the business makes periodic payments against the outstanding balance.

A revolving credit where the funds can be re-used after repayment, usually for short durations.

a revolving form of credit which the borrower utilizes as needed, up to a specified maximum credit limit.

An amount of money a borrower may obtain from a bank without a special credit check. The money is generally for business purposes, and the amount would not include the borrower's own home loan or other personal, secured loans.

Type of loan in which the borrower may draw on funds at any time, up to an established maximum limit; the borrower may borrow, repay, and borrow again, any and all of the credit extended; a revolving loan.

Amount of credit extended to a borrower or cardholder.

A fully functional transaction account that has a credit limit attached to it. The borrower can generally withdraw funds at any time, up to the credit (or facility) limit. (If the credit limit is attached to more than one account, the borrower may only be able to draw up to the account limit on each account.) There is usually no fixed repayment schedule; however, the borrower is usually required to make payments to at least cover the interest and fees on the loan. Find out more.

A pre-approved amount that you can borrow. You only borrow what you need, when you need it.

Also called an "open line of credit" secured on your home. Often there are no closing costs involved, or the lender offers to pay all closing costs. Use like a checking account, borrowing credit over time up to your credit limit.

An agreement by a lender to provide funds to a borrower up to a specified maximum amount.

A source of credit with a predetermined limit that can serve as a loan. Once qualified, the lender allows the borrower to borrow up to that predetermined limit. Lines of credit are usually activated when the borrower writes a check against his/her line of credit.

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.

An agreement between a bank and a business or individual specifying the maximum amount of unsecured credit the bank will make available to that customer over a given period of time.

An arrangement in which a bank or vendor extends a specified amount of unsecured credit to a specified borrower for a specified time period.

An agreement by a bank or other financial institution to extend credit up to a certain limit for a certain time for a specific borrower. Link - A surveyor's measure equal to 7.92 inches.

An extension of credit for a certain amount for a specific amount of time. To be used by the borrower at his discretion.

The amount of money you can draw from a credit account, such as a credit card or equity mortgage.

Just as a credit card has a credit limit, so too does a Line Of Credit. Unlike standard home loans, this allows you to freely access the equity in your home up to your pre-approved credit limit. Not to be confused with a Redraw facility.

a bank agreement to borrow up to a pre-specified amount during a specified period of time

A set amount of money available for the Borrower to borrow as needed. The borrowed amounts are then paid back in installments determined by the Lender. A line of credit is distinct from a loan because after the money is paid back a borrower can access it and use it again, which makes it similar to a credit card.

The amount of credit a lender will extend to a borrower over a specified period of time.

a revolving form of credit where a bank loans a business up to a specified amount as needed by the firm.

An agreement by a lender to extend credit up to a set amount for a specified time. In a home equity line of credit, the loan is secured by the borrower's home.

A line of credit gives you access to a specific amount of money that you can withdraw as you need it. Interest is paid on the money you withdraw.

An authorized amount of credit given to an individual, business, or institution.

A preestablished loan authorization with a specified borrowing limit extended by a lending institution to an individual or business based on creditworthiness. A line of credit allows borrowers to obtain a number of loans without re-applying each time as long as the total of borrowed funds does not exceed the credit limit.

A commitment by a financial institution to lend up to a specified maximum amount to a customer during a specified period of time.

a loan with a specified ceiling, somewhat like a credit card.

An agreement by a lender to extend credit up to a certain amount for a certain time without the need for the borrower to file another application. See Home Equity Line of Credit .

A credit agreement, often arranged before funds are needed, in which a financial institution agrees to lend money to a client up to a maximum amount for a specific period of time. Having a line of credit provides flexibility for customers and enables them to meet short-term cash requirements. Also referred to as a bank line or credit line.

An amount of money stipulated by a commercial bank to an active customer on an annual basis. The balance normally must be brought to zero on an agreed upon regular date. ( See commercial bank )

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.

An agreement by a commercial bank or other financial institution to extend credit up to a certain amount (and for a certain time) to an applicant.

A type of credit arrangement usually issued by a financial institution which offers an individual immediate access to a pre-determined amount of cash upon demand without having to apply for a loan. A line of credit may be either unsecured or secured with personal assets such as bonds, term deposits or home equity. A secured line of credit results in lower risk to the financial institution and a lower rate of interest to the individual.

An agreement by a lender to extend credit up to a specified amount for a specified time for a specified purpose.

An agreement negotiated between a borrower and lender establishing the maximum amount of money against which a borrower may draw.

A prearranged financial agreement that allows an entity to borrow money from a lender for a short term, and for up to a specified amount.

(LOC): A loan with an option to borrow again and again as needed over time up to a specified limit. The borrower agrees to repay the money with interest through monthly payments.

An informal arrangement in which a bank agrees to lend up to a specified maximum amount of funds during a designated period.

A preestablished borrowing limit set forth by a lending institution and assigned to an individual or business based on creditworthiness. A line of credit is used with open-end loans that allow borrowers to obtain advances or make purchases against an account, eliminating the need to reapply for credit prior to individual purchases.

A fixed amount of credit granted to cover a series of transactions.

An amount of money, set by the lender, which you are entitled to borrow. These loans can be either secured (home-equity line of credit) or unsecured (personal line of credit).

An agreement from a lender to supply up to some maximum amount at prespecified terms.

A specific amount of funds made available to a borrower by a lender for a predetermined period of time.

An agreement by a financial institution to extend credit up to a certain amount for a certain time to a specified borrower. Often taken against a home's equity.

The amount that a bank commits to lend a borrower during a specified purpose. To Top

The total amount of credit available to a borrower. Purchases and withdrawals will not be possible beyond this limit.

A banking term referring to an agreement between a bank and a customer whereby the bank agrees to lend money to the customer up to an agreed maximum amount.

A commitment by a lender to lend up to a certain amount of money to a business.

A maximum credit limit allowed by a lender 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 lender.

A preauthorized amount of credit offered to an individual, business or institution that is commonly secured against an asset such as a home (real estate).

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.

Money lent at interest. Discretionary money lent by a bank for operating expenses.

Money available to a borrower, up to a set amount, usually revolving in nature.

Quantity of credit granted to a member on an open-end signature loan. The credit union makes a certain amount available to the customer and he/she may draw funds up to that amount as deemed necessary.

The funds a lender is willing to make available to a borrower. The borrower may use all, a portion of, or none at all.

A pre-approved amount of borrowing allowed a debtor by a creditor or a number of creditors.

a type of pre-approved loan that allows you to borrow money when you need it, up to a maximum amount

An agreement whereby a financial institution promises to lend up to a certain amount without the need to file another application.

An agreement negotiated between a borrower and a lender establishing the maximum amount of money a borrower may draw. The agreement also sets out other conditions, e.g., how and when money is to be repaid.

An agreement by a lender to extend credit to a specified borrower up to a certain maximum dollar amount for a specified period of time.

Line of Credit loans are interest only variable rate loans that have full flexibility attached to them such as cheque books and credit cards. These are ideal for wealth most line of credit loans offer interest capitalisation features, provided that the borrower has sufficient equity in the loan account no minimum repayment is required. Line of credit rates are generally higher than standard variable rate term loans.

A flexible loan similar to an overdraft where you have a maximum limit and you only pay interest when you draw funds down (interest is only calculated on the amount drawn NOT the funds available). The account operates as a day-to-day account.

a type of mortgage—traditional and reverse—in which the homeowner has a credit account and can withdraw funds as required (pages 109-22).

Agreement by a bank that a company may borrow at any time up to an established limit.

An amount of money, which a business can borrow against at times it needs capital. Often accessed by check, ATM, or business card. LiveCapital.com - A web site for small business loan offers from a variety of lenders instantly.

Extent of borrowing capacity; specifically the maximum amount a financial institute is willing to lend to a particular borrower (generally another financial institution or a commercial enterprise) at one time, whether in a lump sum or several separate advances. This amount is established after analysis of the borrower's business operation is updated from time to time.

credit limit established by the creditor.

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 informal arrangement between a bank and a customer establishing a maximum loan balance that the bank will permit the borrower to maintain.

A maximum amount of money a bank will lend one of its more reliable and credit worthy customers without need for any formal loan submission.

An agreement between a lender and a borrower in which the borrower can borrow up to a certain maximum amount of money from the lender without a formal loan submission; the borrower then has available a quick loan service without the delay of a credit review.

A loan arrangement between a bank and a customer allowing the customer to borrow up to a predetermined amount.

Although not a contract, a bank's promise to lend to a specific borrower up to a pre-agreed amount during a specific time frame. Usually reviewed annually and subject to cancellation without notice.

an agreed maximum amount of credit extended by a bank for a set time and purpose

A contract that enables a company to borrow funds at any time up to a predetermined limit.

See credit facility.

An amount of money an organization can obtain from a lender for business purposes without a special credit check.

An amount of credit extended to a business or individual that may be borrowed at once or in several increments provided those increments do not exceed a predetermined limit.

A type of mortgage loan from which borrowers can write a check or draw funds. Some lines of credit are also balloon loans. Usually the borrower is given 5 to 10 years to use the line of credit. After this period, many lines of credit require the borrower to pay the loan in full. Others may require the loan to be paid in full over the next 10 to 15 years.

A maximum amount of credit allowed by a bank for a customer. The customer may draw money at any time up to a pre-determined limit set by your bank for revolving or non-revolving line of credit.

In open-end credit, the maximum amount a borrower can draw upon or the maximum that an account can show as outstanding.

maximum amount a person can borrow without completing a new credit application Å‘å‘Ý•t‚¯Šz

An agreement by a lender to give credit to a certain borrower for a certain amount.

An agreement that gives a borrower the right to take an uncertain amount of money, up to a maximum amount.

a loan, often secured by collateral, which can be drawn upon at any time

a loan that allows you to obtain funds when you want them without applying for a loan each time you want funds

an ongoing loan with one-time approval and is attached to your existing chequing account

an unsecured open end loan requiring only the signature of the applicant or if needed co-applicant or guarantor

a personal loan

a revolving loan for consumer purposes, attached to a chequing account

a revolving loan typically used to finance short-term or seasonal expenses

Simply put, it is overdraft facility on your bank account. Can be either secured by a mortgage or unsecured.

A preapproved loan from a bank that you can draw on, as needed, for routine operating expenses.

(See Open-End Loan).

loan loan value

a flexible ongoing loan arrangement with a specified limit.

Loan type with flexible arrangements to be used at your discretion

a flexible loan arrangement with a specified ceiling to be used at a customer's discretion

A highly flexible form of interim financiaing based on a past performance and strength of personal or corporate convenants.

Availability of funds by the funding source based on the client's ability to pay