A credit line, also known as a line of credit, refers to a pre-approved loan amount that a borrower can draw upon as needed and repay either immediately or over time. It is commonly used for short-term borrowing needs.
A facility is an agreement between a bank and a company that grants the company a line of credit with the bank. This can either be a committed facility or an uncommitted facility.
A Home Equity Line of Credit (HELOC) is a type of home equity loan that establishes an account the borrower can draw upon as desired, with a maximum outstanding debt limit similar to a credit card.
Revolving credit is a financial arrangement where a lender provides funds up to a pre-approved credit limit, which the borrower can repeatedly use, repay, and use again. Common in both commercial and consumer banking, revolving credit helps businesses manage working capital and allows consumers flexible access to funds.
Revolving credit is a type of credit that does not have a fixed number of payments, allowing the borrower to reborrow money as they repay the principal.
A short-term credit line allowing business borrowers to access funds quickly and efficiently, often to manage temporary shortfalls in other credit arrangements.
