line of credit(noun) line of creditnoun plurallines of credit Britannica Dictionary definition of LINE OF CREDIT [count] :an amount of money that a person is allowed to borrow aline of creditof up to $100,000 —called alsocredit line...
Define line of credit. line of credit synonyms, line of credit pronunciation, line of credit translation, English dictionary definition of line of credit. n. pl. lines of credit See credit line. American Heritage® Dictionary of the English Language, F
Line of credit vs credit card Secured line of credit examples Pros and cons of credit lines Businesses in need of working capital have several outlets to turn to, from credit cards to fixed-rate loans. When you’re strapped for cash, you might even consider peer-to-peer lending or borrowin...
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Different lines of credit such as personal, business, or home equity lines of credit, carry different levels of risk for the lender. For example, abusiness line of creditmay come with a higher interest rate than apersonal line of creditdue to the higher risk associated with business ventures...
Define Warehouse Lines of Credit. means collectively (i) the line of credit of the Company with Residential Funding Corporation pursuant to the Residential Funding Agreement, as the same may be amended or increased or otherwise modified from time to time
What is a revolving line of credit? How revolving lines of credit work Examples of revolving credit accounts Lines of credit vs. business loans A revolving line of credit can be great for covering everyday expenses Revolving credit FAQ Start your online business today. For free.Start free trial...
Home Equity Loans means loans or funded portions of lines of credit secured by mortgages on one-to four-family residences or stock of cooperative housing associations, where the Failed Bank did not have a first lien on the same property as collateral. Bank Loans means debt obligations (including...
A line of credit (LOC) is a preset borrowing limit offered by banks and financial institutions to their personal and business customers. Lines of credit can be used at any time until the limit is reached. The limit is set by the issuer based on the borrower'screditworthiness. As money is...
Collateralis something that you own that can be used to secure any loans or lines of credit that you apply for. When you take out a secured loan—such as an automobile or HELOC—you will pledge your asset as collateral. Creditors may consider certainconditionsunder which they would extend yo...