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InvestHub.com's
Finance Dictionary and Glossary of Investment Terms

Line of Credit  

Definition 1.

An arrangement between a financial institution (usually a bank) and a customer establishing a maximum loan balance that the bank will permit the borrower to maintain.
 

Definition 2.

An informal loan arrangement between a bank and a customer allowing the customer to borrow up to a prespecified amount.
 

Definition 3.

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.
 
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