line of creditline of credit
- a declaration by a bank that it will extend credit to a borrower up to a specified maximum amount
- the maximum amount so specified
line of credit
nounpl. lines of credit
See credit line.
(plural lines of credit)
- (finance, banking) A financial agreement under which a bank or other lender agrees to provide a client with loans of money up to an approved limit during a predefined period. The client may borrow the entire credit amount all at once or in portions during the specified period.
- (finance, banking) The maximum borrowable amount specified in such an agreement.