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 ?
5 million, which the Company expects to be refinanced with the existing lenders; however, these debt maturities could be refinanced by the new revolving line of credit if necessary.
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 Credit Agreement provides a revolving line of credit with no scheduled maturities other than the maturity date of November 7, 2008, and allows LTC to borrow at lower interest rates than applicable to borrowings under its prior credit agreement.
0 million mezzanine/equity 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.
During the month of September our revolving line of credit balance was zero and we have maintained a zero balance since the end of December 2004.
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.
The new revolving line of credit is based on the Company's eligible accounts receivable and cash and marketable securities.
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.
In addition, the Company will maintain and grow its availability under the revolving line of credit.
The new facility comprises a $500 million Term Loan A and a $600 million revolving line of credit (which is currently undrawn), both expiring June 2011; the previous facility comprised a $38.