line of credit
Plural
lines of credit
1
the maximum amount of loan that a customer is allowed to receive
- The small business secured a line of credit from the bank to cover operating expenses during lean months.
- Rather than taking out a traditional loan, the homeowner opted for a line of credit against the equity in their property to finance home renovations.
- The company's line of credit with its suppliers allowed it to maintain inventory levels without tying up excessive capital.
- Individuals can use a personal line of credit for various purposes, such as consolidating debt or covering unexpected expenses.
- The student obtained a line of credit from a financial institution to help cover tuition and living expenses while attending university.