Revolving credit facility
A fancy expression for an overdraft. Those with an appetite for financial slang call these “revolvers”.
Banking basics
A recap of a few things you’d think financial professionals ought to know
|
Why “revolving credit facility”? Well, a “credit facility” means an arranged loan; if it “revolves” that means the amount you can borrow under it from time to time can wax and wane. If you pay it down, you can withdraw again later.
In other words, an overdraft.