HomeDefinitionsCompareDebt Line of creditThe financial definition for Line of credit:An informal loan arrangement between a bank and a customer allowing the customer to borrow up to a prespecified amount. Similar MatchesAccredited investorAccredited investorRefers to an individual whose net worth, or joint net worth with a spouse, exceeds $1,000,000; or whose individual income exceeded $200,000 or whose joint income with a spouse exceeded $300,000 in each of the 2 most recent years and can be expected to meet that income in the current year. More details of the definitions for investors other that individuals are found in Regulation D of the Securities and Exchange Commission. Backup Line of CreditBackup Line of CreditA bank assurance of funds obtained by an issuer of commercial paper to protect the CP investor from default. The issuer pays a commitment fee to the bank. Bank Letter of Credit PolicyBank Letter of Credit PolicyStandards allowing banks to confirm letters of credit by foreign banks supporting the purchase of US exports. Further SuggestionsBank Letter of Credit PolicyBest interests of creditors test Close end credit Commercial letters of credit Comparative credit analysis Confirmed Letter of Credit Consumer credit Click to compare definitions of Line of credit Click to view definitions beginning li |