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What is Line of Credit (LOC)?
A Line of Credit (LOC) is a credit facility provided to the government, business or individual by a financial institution or another commercial funder. The borrower can typically draw down on the account at any time, with a maximum limit which cannot be exceeded. The advantage with a LOC over a term loan is a borrower is typically only charged interest on the amount withdrawn at any given time vs an entire loan amount.
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OTHER TERMS BEGINNING WITH "L"
- Less-Than-Truckload (LTL) Carriers
- Letter of Comfort or Financial Capability Certification Program
- Letter of Credit
- Letter of Credit (L/C)
- Leveraged Buyout
- Liability
- LIBOR Rate
- Licensed Insolvency Trustee (LIT)
- Line Credit Account
- Line-haul Shipment
- Liquid Asset
- Liquidity
- Load Tender
- Load Tendering
- Loading Allowance
- Loan Covenant
- Loan-to-Cost (LTC) Ratio
- Loan-to-Value (LTV) Ratio
- Lock Box Payment Services
- Logbook
- Long-Term Debt (LTD)
- Low Boy (Heavy Equipment Hauler)
- LTL Shipment
- Lumping