Revolving line of credit


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Related to Revolving line of credit: Revolving credit facility, Term loan

Revolving line of credit

A bank line of credit on which the customer pays a commitment fee and can take and repay funds at will. Normally a revolving LOC involves a firm commitment from the bank for a period of several years.

Line of Credit

An agreement between a bank and a company or an individual to provide a certain amount in loans on demand from the borrower. The borrower is under no obligation to actually take out a loan at any particular time, but may take part of the funds at any time over a period of several years. This agreement is fairly common in situations in which a business must make payroll but does not always have the operating income to do so, especially when its operating income is seasonal or otherwise varies from month to month. It is also called open-end credit or a revolving line of credit. See also: Credit Card.
References in periodicals archive ?
The expanded revolving line of credit with Wells Fargo Business Credit is part of an amendment to Kitty Hawk's existing Credit and Security Agreement.
The extension through March 31, 1995 is contingent upon the extension of the Company's Revolving Line of Credit.
The three-year mezzanine revolving line of credit loan supports AREI's continued growth and acquisition of senior housing facilities throughout the United States.
LFA) (AMEX: LFA) today announced that its Collegiate Pacific subsidiary has obtained a two-year revolving line of credit from Freemont Financial.
In addition to revising the loan covenants, the loan amendment extends the revolving line of credit until Jan.
Nasdaq:NASI) today announced that it has executed a Loan and Security Agreement with Silicon Valley Bank, the primary subsidiary of SVB Financial Group (Nasdaq:SIVB), for a revolving line of credit of up to $5 million.
Corporation provide for a five-year revolving line of credit of up to
9, 2004, between the company and the bank (the "agreement"), which established a revolving line of credit in the amount of $1,500,000 and a term loan in the amount of $1,750,000.
NASDAQ: IHOP) today announced that it has executed a definitive agreement for a $15 million revolving line of credit with Bank of America.
In addition, the Company will maintain and grow its availability under the revolving line of credit.