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 revolving line of credit has been extended to USD35m from USD25m currently and maturity has been extended to 13 February 2015 from 11 July 2013.
Also, the company said that this USD400m revolving line of credit matures in March 2023 and can be extended to March 2024, subject to certain conditions and at its option.
The facilities deliver for a $20m term loan along with a $20m revolving line of credit with an extra accordion feature for future growth opportunities.
The company said that the amended credit facility provides a revolving line of credit up to USD150m, matures on 30 December 2015 and converts the company's outstanding term debt of USD57.9m into revolving loans.
26 August 2011 - US Conceptus Inc (NASDAQ:CPTS) said today it has entered into a new revolving line of credit arrangement with Wells Fargo Bank, N.A., providing the firm a working capital borrowing facility of up to USD50m (EUR34.8m).
Itron Incorporated (Itron) (NASDAQ:ITRI), a US-based global provider of solid-state utility meters, is expanding its USD125m multicurrency revolving line of credit under its current credit facility.
* A $1.1 million loan with a $250,000 unsecured revolving line of credit on a 25 unit, 6-story elevator co-op building on E.
Cracker Barrel Old Country Store announced that it has entered into a five-year $950M revolving line of credit. This new credit facility replaces the previous $750M revolving line of credit.
BBX Capital Corporation (NYSE: BBX) (OTC: BBXTB) has said that the company and certain subsidiaries have entered into a Loan and Security Agreement and related agreements in an IberiaBank -led Multi-Bank Facility that provides for an USD50m revolving line of credit.
(NASDAQ: FFWM) has entered into a loan agreement with NexBank SSB that provides for a revolving line of credit for up to USD 25m, the company said.
The funding of a $3.5 million asset-based revolving line of credit is being declared by the Renasant Business Credit for a commercial printing company, which is situated in Georgia.
Kofax plc (LSE:KFX.l), a provider of capture driven process automation solutions, today announced it has entered into a new, three year USD40m revolving line of credit facility with Bank of America Merrill Lynch.