Revolving credit facility: Difference between revisions
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imported>Doug Williamson m (Spacing 20/8/13) |
imported>Doug Williamson m (Category added 9/10/13 and spacing) |
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Revision as of 08:33, 9 October 2013
(RCF).
A facility which permits the borrower to draw down and repay amounts at the borrower's discretion for a specified period of time.
An RCF is similar in this respect to an overdraft.
However, RCFs are normally for much larger amounts than overdrafts, and RCFs - unlike overdrafts - are not usually repayable on demand.
