credit line ˈcredit line also ˌbank (ˈcredit) ˌline, ˌline of ˈcredit noun [countable] BANKING COMMERCE
an arrangement with a bank for a loan or a number of loans:
• The auto maker is currently negotiating a new $1.8 billion credit line that would replace a much bigger, existing $2.6 billion credit.
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An agreement by which a bank lends or borrows money up to a specified limit for a set period. The limits on this borrowing are known as credit limits.
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credit line UK US noun [C] (also line of credit)
► BANKING, FINANCE an amount of money a person or company is allowed to borrow during a particular period of time from one or more financial organizations: receive/secure a credit line »
The company announced it had received a four-year credit line, which will allow it to borrow up to $866m to avoid a possible bankruptcy.
»agree/set up/negotiate a credit line
draw down/tap/use a credit line »The company was forced to draw down its entire $11.5 billion credit line from a consortium of banks.
Financial and business terms. 2012.