Swingline Loan

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Swingline Loan

A large loan that a company may take out in order to repay other debts. A swingline loan is much like a line of credit or a demand loan, but differs in that it must be used to repay outstanding debt. See also: Refinancing, Debt consolidation.
References in periodicals archive ?
In addition to standard loan arrangements such as revolving credit lines and term loans, syndicated loans frequently include other credit products, such as letters of credit and swing line loans.
Swing line loans are also available in smaller amounts than syndicated loans.