Glossary
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Line of Credit
Definition:
An amount of credit which is made available to a customer by a lender.
Often banks provide a "line of credit" which allows a customer to borrow money up to a maximum amount paying interest only on the portion of the total borrowed at a given time. Principal can be repaid or advanced at the debtor's discretion.
Often banks provide a "line of credit" which allows a customer to borrow money up to a maximum amount paying interest only on the portion of the total borrowed at a given time. Principal can be repaid or advanced at the debtor's discretion.