Loan facility

Loan facility,

Definition of Loan facility:

  1. A credit line that a business can use to finance projects or for other purposes. A loan facility might be extended to a company from a bank if the company is deemed to be creditworthy and seems to have a valid purpose for requesting the facility.

  2. A credit arrangement through which a person or organization can borrow money up to an agreed sum.

How to use Loan facility in a sentence?

  1. It is not the practice of this bank to grant loan facilities.

Meaning of Loan facility & Loan facility Definition