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Revolving credit is a type of credit that does not have a fixed number of payments, in contrast to installment credit. Credit cards are an example of revolving credit used by consumers. Corporate revolving credit facilities are typically used to provide liquidity for a company's day-to-day operations.
A revolving credit line allows borrowers to draw down, repay and reborrow as often as necessary. The facility acts much like a corporate credit card, except that borrowers are charged an annual commitment fee on unused amounts, which drives up the overall cost of borrowing (the facility fee).
A line of credit is a credit facility extended by a bank or other financial institution to a government, business or individual customer that enables the customer to draw on the facility when the customer needs funds. A financial institution makes available an amount of credit to a business or consumer during a specified period of time.
The 2013 Revolving Facility replaces the Company's 2010 Term Loans and Revolving Credit Facility and the initial borrowing of $192.5 million was used for repayment of the amounts outstanding under ...
Like a credit card, a business line of credit is a kind of revolving credit, providing an ongoing and versatile source of funds. Whether capital is needed to cover payroll, purchase equipment or ...
CoreSite Amends and Increases Revolving Credit Facility Amendment converts the facility to unsecured, increases availability to $355 million, extends the maturity, and lowers the rate spread ...
A warehouse line of credit is a credit line used by mortgage bankers. It is a short-term revolving credit facility extended by a financial institution to a mortgage loan originator for the funding of mortgage loans. The cycle starts with the mortgage banker taking a loan application from the property buyer.
The new ABL Credit Agreement will provide NN Inc. with a $50 million revolving credit facility. The proceeds from the new credit facility were applied to refinance outstanding obligations under the company’s existing asset-backed loan credit agreement. The new ABL Credit Agreement will carry a maturity of the earlier of two dates, between ...