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line of credit
noun phrase
: the maximum credit allowed a buyer or borrower
also
: an agreement providing credit up to a certain amount
Examples of line of credit in a Sentence
Recent Examples on the Web
At the time, the outlet noted the filmmaker had sold some of his wineries in order to establish a line of credit to pay for the movie.
—Tommy McArdle, Peoplemag, 20 May 2024
During the six months ended March 31, 2024, the Company had operating cash provided by operations of $1.0 million, used $0.5 million to pay down its line of credit and spent $0.2 million on acquisitions of property and equipment and $1.0 million on the acquisition of intellectual property.
—Fort Worth Star-Telegram, 14 May 2024
The average rate for a home equity line of credit is now 9.1% — up from 7.99% a year ago and 4.15% on May 1, 2022, according to Bankrate.com.
—Susan Tompor, Detroit Free Press, 1 May 2024
In the end, Michael Cohen took out a home equity line of credit and paid Ms. Daniels the $130,000 himself.
—Peter Grier, The Christian Science Monitor, 26 Apr. 2024
The store’s rent was raised to $11,000, and the bank closed their line of credit, which was common in the midst of the economic crisis of 2008.
—Sarah Moreno, Miami Herald, 22 Apr. 2024
The University of Arkansas System board of trustees approved a tuition increase and a line of credit for the University of Arkansas Grantham during a special meeting Friday.
—Ryan Anderson, arkansasonline.com, 16 Dec. 2023
Home equity line of credit: The average HELOC rate had climbed to 8.98% as of March 15, up from just 3.96% two years ago.
—Susan Tompor, Detroit Free Press, 20 Mar. 2024
Deal: $150,000 in cash and $150,000 as a line of credit for 10% equity with Barbara Corcoran.
—Coleby Phillips, The Arizona Republic, 10 Feb. 2024
These examples are programmatically compiled from various online sources to illustrate current usage of the word 'line of credit.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.
Word History
First Known Use
1917, in the meaning defined above
Dictionary Entries Near line of credit
Cite this Entry
“Line of credit.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/line%20of%20credit. Accessed 28 May. 2024.
Legal Definition
line of credit
: an agreement specifying the maximum amount of credit allowed a borrower
More from Merriam-Webster on line of credit
Britannica.com: Encyclopedia article about line of credit
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