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Meaning of “credit line” in the English Dictionary

"credit line" in Business English

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credit linenoun [C]

uk   us   (also line of credit)
BANKING, FINANCE an ​amount of ​money a ​person or ​company is ​allowed to ​borrow during a particular ​period of ​time from one or more ​financialorganizations: receive/secure a credit line The ​company announced it had received a four-year ​creditline, which will ​allow it to ​borrow up to $866m to ​avoid a possible ​bankruptcy. agree/set up/​negotiate a ​creditlinedraw down/tap/use a credit line The ​company was ​forced to ​draw down its entire $11.5 ​billioncreditline from a ​consortium of ​banks.
(Definition of credit line from the Cambridge Business English Dictionary © Cambridge University Press)
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