line of credit
Preapproved loan access
A line of credit is a pre-approved loan arrangement allowing borrowing up to a set limit as needed, rather than receiving a lump sum.
Interest accrues only on the amount actually drawn.
Banks offer lines of credit to businesses for operating expenses and to homeowners against property equity: We took out a home equity line of credit for renovations.
Often abbreviated HELOC when secured by a home.
Turning around a center
- drawdownReduction over time
- creditworthinessAbility to repay debts
- collateralSecurity for debt
- lenderOne who loans money
borrower · repayment · interest · overdraft · unsecured · secured · debt · liability
Convertibility to cash
- accessibilityEase of approach
- revolvingTurning around a center
- convenienceEase of use
- leverageBorrowed capital for amplified returns
discretionary · on-demand · adjustable · variable rate · open-ended · reusable · cash flow · emergency fund
Room's upper surface
- capCovering for top
- maximumGreatest permitted quantity
- thresholdPoint of beginning
- available balanceMoney currently usable in account
revolving
Turning around a center
- drawdownReduction over time
- creditworthinessAbility to repay debts
- collateralSecurity for debt
lender · borrower · repayment · interest · overdraft · unsecured · secured · debt · liability · financing
liquidity
Convertibility to cash
- accessibilityEase of approach
- revolvingTurning around a center
- convenienceEase of use
leverage · discretionary · on-demand · adjustable · variable rate · open-ended · reusable · cash flow · emergency fund · working capital
ceiling
Room's upper surface
- financesmoney, affluence, cash, bankrupt, income
- bankingbank, banks, ATM, ATMs, account
- debtscar loan, student loan, loans, bank loan, personal loan
- financebank, CFO, banks, controller, finance
- bills & debtsmortgage, car loan, student loan, medical debt, personal loan
- fundingfunding, grant, loan, grants, venture capital
line of creditsavings account
Interest-bearing bank holding
cash reserves · liquid assets · equity · net worth · investment portfolio
line of creditfixed-rate mortgage
Loan with constant interest
term loan · installment loan · fixed-rate loan · car loan · auto loan
line of creditcredit denial
Refusal to lend
bad credit · bankruptcy · credit freeze · maxed out · overleveraged
line, credit, lines, lined, outline, lining, lineage, underline, linear