lines of credit
Flexible loan accounts
Lines of credit are lending arrangements that let borrowers draw funds up to a set limit as needed, rather than receiving a lump sum.
Interest accrues only on the amount actually used.
A home equity line of credit (HELOC) uses the borrower's house as collateral.
Businesses use lines of credit to manage cash flow: We drew on our line of credit to cover payroll during the slow season.
- debtMoney owed another
- borrowingTemporary taking of another's
- available balanceMoney currently usable in account
- financeProvide money for
- lendingTemporary provision of resources
loan · cash advance · home equity · unsecured loan · banking · issuer · minimum payment · repayment · creditworthiness · limit · overdraft protection · amortization · approval · bridge loan · consumer protection · rainy day fund · personal loan · commercial loan
- bankingbank, banks, ATM, ATMs, account
- Banking servicesloans, mortgages, savings accounts, checking accounts, CDs
- lendingloans, borrower, approval, lenders, bank loan
- creditcreditworthiness, creditworthy, FICO, FICO score, microcredit
lines of creditterm loans
Debt repaid over time
installment loans · mortgage loans · auto loans · student loans · personal loans
lines of creditsavings
Accumulated money kept
cash reserves · equity · capital · liquid assets · cash on hand
lines of creditcredit denial
Refusal to lend
loan rejection · credit freeze · insolvency · bankruptcy · frozen accounts
line, lines, credit, credits, linear, lineage, lineal, linearity, linearly