Annual Clean Up

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Annual Clean Up

A requirement for a borrower to completely repay a revolving line of credit at least once per year. For example, a lender may require an annual clean up for a company that uses a business line of credit to make payroll in its slow months. The annual clean up proves to the lender that the borrower is not overly dependent on the credit line and can generate its own revenue. It is also called a clean up requirement.
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The Lincoln County SWA s director, Maureen Hauldren, briefed members of the Lincoln County Commission in recent months, and secured funds from the county for the highly popular annual clean-ups staged throughout the county.
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