bank line

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Bank line

Line of credit that a bank grants to a customer.

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.

bank line

References in periodicals archive ?
We are excited to be acquiring the Formative Assessment Item Bank line of business," said Mark Rankovic, Certica's president and CEO, in a prepared statement.
Although Standard & Poor's believes Conseco will be able to renegotiate the bank line maturing in September, enough uncertainty remains to keep the ratings on CreditWatch, where they will likely remain at least until the Sept.
The signing of the $250 million unsecured five year revolving bank line of credit provides Avocent with increased financial flexibility.
24, 1993, and that the company has received a commitment for the required operating bank lines from a Canadian bank subject to final documentation.
The principal objectives of the senior notes are the elimination of essentially all of Wainoco's short-term debt and current maturities of long-term debt through the 1990's and the restoration of more than $40 million of unused committed debt capacity under Wainoco's bank lines.
In its recovery analysis of DYN, Fitch conservatively assumes all company bank lines are fully drawn and no cash remains available for creditors, hence, there is no impact on recovery valuations from the settlement cash payment.
Volt understands that cashing a paycheck can be time-consuming, with long bank lines and unwanted, costly check-cashing fees," said Jerome Shaw, Executive Vice President of Volt Information Sciences, Inc.
He added that, "the increased size does not reflect a change in CFC's funding strategy, but rather should provide investors with additional comfort, since CFC has more available under the liquidity back-up lines than it maintains outstanding in short term debt securities that require back-up bank lines.
The program is backed by $10 million of confirmed bank lines; if more than that amount of commercial paper is borrowed, the company will arrange for additional bank lines adequate to provide 100% backing.
The series 2006B bonds will be sized, possibly in combination with bank lines of credit, to provide $2.