Line of credit
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Line of credit is an arrangement in which a bank agrees to lend up to a specified maximum amount of funds during a designated period.
Definitions
According to Financial Management Theory and Practice by Eugene F. Brigham and Michael C. Ehrhardt (13th edition),
- Line of credit. An arrangement in which a bank agrees to lend up to a specified maximum amount of funds during a designated period.
Related concepts
- Financial management. A combination of enterprise efforts undertaken in order to procure and utilize monetary resources of the enterprise.
