Flexible Borrowing

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Definitions
Line of Credit
Line of Credit Financial Institution Borrower Debt Reduction Credit Limit Flexible Borrowing Revolving Credit
A line of credit is an agreement between a financial institution and a borrower that allows the borrower to access funds up to an approved limit, providing flexibility in borrowing. It is not necessary to reapply each time funds are needed, but repayment is expected as the credit is used.
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Definitions
Revolving Line of Credit
Revolving Line of Credit Revolving Credit Credit Lines Business Finance Personal Finance Flexible Borrowing
A revolving line of credit is a flexible borrowing option that allows individuals or businesses to access and repay funds on an as-needed basis up to a specified credit limit.
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