Revolving credit facility

{
  "id": "MLC-T-LAW-004325",
  "term": "Revolving credit facility",
  "field": "Law",
  "definition": "A type of loan that allows a borrower to draw down, repay, and redraw funds up to a certain maximum amount over a specified period. Interest is charged only on the amount actually borrowed, and the principal balance can fluctuate. This financial arrangement is common for businesses needing flexible access to capital, such as a corporate line of credit.",
  "url": "https://mlchart.com/terminology/law/revolving-credit-facility/"
}