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Finance Dictionary and Glossary of Investment Terms
Revolving line of credit
A bank line of credit on which the customer pays a commitment fee and can take and repay funds at will. Normally a revolving LOC involves a firm commitment from the bank for a period of several years.
An agreement by a bank to lend a specific amount to a borrower, and to allow that amount to be borrowed again once it has been repaid. also called revolving credit.