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 Glossary   >   L   >   "Line of credit" Definition   

        Line of credit

An informal arrangement between a bank and a customer establishing a maximum loan balance that the bank will permit the borrower to maintain.

Line of credit


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Line of credit - An informal arrangement between a bank and a customer establishing a maximum loan balance that the bank will permit the borrower to maintain.


Line of credit : an informal arrangement between a bank and a customer establishing a maximum loan balance that the bank will permit the borrower to maintain.