line of credit

Definitions (2)
Related Terms
1. Banking: Alternative term for overdraft.
2. Trading: Extent to which a seller will extend credit payment terms to a buyer. It is the total of the amounts of (a) unpaid invoices, (b) goods in transit, and (c) orders confirmed but yet to be shipped.

Use 'line of credit' in a Sentence

I forgot to account for the car repairs in my check account and the line of credit allowed me to buy my groceries.
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When Jake first started the company he was short on funds so he applied for a store credit card and got a line of credit which he used to buy the needed furniture; additionally they gave him a deal for no interest for 6 months so he didn't have to be in a hurry to pay it back.
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Wells Fargo granted our company a $25,000 start-up LINE OF CREDIT for our restaurant to get off the ground and start serving our customers in the fashion we aspire to serve them.
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