Revolving Line of Credit
1 definition found for this term.
Definitions are presented in the order source books were published (most recent first).
Financial Skills for Professionals$65.00 – $104.00
In commercial banking, a contractual agreement between a bank and, usually, a company where the bank agrees to provide loans up to a specified maximum over a specified period, usually a year or more. In consumer banking, it is a loan account requiring monthly payments less than the full amount of the loan, and the balance is carried forward with a finance charge on that balance.