Line of credit

A flexible form of loan in which the lender agrees to make a certain amount of money available to the borrower at a certain interest rate. The borrower may use as much of the amount available as she wishes and may pay out all or any part of the amount owing at any time or re-borrow such funds at their leisure.

Part of the Commercial Property glossary — plain-English definitions of the terms you meet when leasing, buying or selling commercial space in South Africa. See also our how-to guides.