line of credit

Definition

An arrangement in which a bank or vendor extends a specified amount of unsecured credit to a specified borrower for a specified time period. also called credit line.

Use line of credit in a sentence

You may be able to get a line of credit from your supplier if you have done a lot of business with them in the past.

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The line of credit was made available to the team who then decided the best possible uses for the increasing the leverage strategy.

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In addition to the initial cash investment into the company, the investor also offered the start up a line of credit to be used towards the purchase of inventory.

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cash advance application for letter of credit