swingline loan

Definition

A large cash loan given to a business in order to help it with its other debts. This is similar to a line of credit in that it is a quick way for a company to acquire a needed amount of cash, although different in that it is specifically used for paying off other debts or loans.

Use swingline loan in a sentence

You should try and figure out a way to get a swingline loan if you are need in some cash very quickly.

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They got a swingline loan and the purpose of it was to help them with other kinds of loans and things like that.

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Because 4th quarter sales were soft, the young company had to get a swingline loan to pay off some of it's creditors.

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swing trading Swiss Exchange (SWX)