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Line of credit
01
the maximum amount of loan that a customer is allowed to receive
Example
The company's line of credit with its suppliers allowed it to maintain inventory levels without tying up excessive capital.
The small business secured a line of credit from the bank to cover operating expenses during lean months.
The student obtained a line of credit from a financial institution to help cover tuition and living expenses while attending university.
Rather than taking out a traditional loan, the homeowner opted for a line of credit against the equity in their property to finance home renovations.
The small business owner chose to consolidate their business loans and lines of credit into a single loan.
