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  Line Of Credit Definition
Line Of Credit An agreement between you and a financial institution that allows you to withdraw funds as you need them, up to the amount of the credit limit that was set by the financial institution. The terms of repayment and the interest rate are outlined in the agreement between you and the lender. Lines of credit can be either secured or unsecured, with secured lines of credit offering lower interest rates than their unsecured counterparts.
   
   
   


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