line of credit

line of credit
line of credit: an agreement specifying the maximum amount of credit allowed a borrower

Merriam-Webster’s Dictionary of Law. . 1996.

line of credit
index capital

Burton's Legal Thesaurus. . 2006


line of credit
n.
An amount of credit available for a specified time to a consumer that the consumer may access as he or she chooses; a standing loan available for a preset time period.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.


line of credit
The maximum borrowing power granted to a person from a financial institution.

Dictionary from West's Encyclopedia of American Law. 2005.


line of credit
The maximum borrowing power granted to a person from a financial institution.

Short Dictionary of (mostly American) Legal Terms and Abbreviations.

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Look at other dictionaries:

  • line of credit — n. 1. a declaration by a bank that it will extend credit to a borrower up to a specified maximum amount 2. the maximum amount so specified * * * …   Universalium

  • line of credit — n. 1. a declaration by a bank that it will extend credit to a borrower up to a specified maximum amount 2. the maximum amount so specified …   English World dictionary

  • Line of credit — Finance Financial markets Bond market …   Wikipedia

  • line of credit — noun the maximum credit that a customer is allowed • Syn: ↑credit line, ↑bank line, ↑line, ↑personal credit line, ↑personal line of credit • Hypernyms: ↑credit • Hyponyms: ↑ …   Useful english dictionary

  • line of credit — A type of credit facility. The specific meaning of the term varies from bank to bank. Since the various uses often cause confusion, two definitions are presented here. In this book, the second definition is used. (1) A type of loan that permits a …   Financial and business terms

  • Line of credit — An informal arrangement between a bank and a customer establishing a maximum loan balance that the bank will permit the borrower to maintain. The New York Times Financial Glossary * * * line of credit ˌline of ˈcredit noun lines of credit… …   Financial and business terms

  • line of credit — /ˌlaɪn əv kredɪt/ noun 1. the amount of money made available to a customer by a bank as an overdraft ♦ to open a line of credit or a credit line to make credit available to someone 2. the borrowing limit on a credit card …   Dictionary of banking and finance

  • line of credit — line′ of cred′it n. bus credit line 2) • Etymology: 1955–60 …   From formal English to slang

  • Line Of Credit - LOC — An arrangement between a financial institution, usually a bank, and a customer that establishes a maximum loan balance that the bank will permit the borrower to maintain. The borrower can draw down on the line of credit at any time, as long as he …   Investment dictionary

  • line of credit — noun a) A financial agreement under which a bank or other lender agrees to provide a client with loans of money up to an approved limit during a predefined period. The client may borrow the entire credit amount all at once or in portions during… …   Wiktionary

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