Concept information
Preferred term
line of credit
Definition
- By definition, a line of credit is a prearranged loan between an organization and a lender, from which an organization can borrow at will up to a maximum loan amount.1 Terms of the line of credit vary from case to case but are often short in duration, with repayment of principal and interest accrued within a year. A line of credit is often used to shelter the organization from short-term drops in revenue or periodic spikes in operating expenses. [Source: Encyclopedia of Health Care Management; Line of Credit]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/line_of_credit
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