Revolving credit facility

From The Jolly Contrarian
(Redirected from Overdraft)
Jump to navigation Jump to search
Banking basics
A recap of a few things you’d think financial professionals ought to know
Index: Click to expand:
Tell me more
Sign up for our newsletter — or just get in touch: for ½ a weekly 🍺 you get to consult JC. Ask about it here.

A fancy expression for an overdraft. Those with an appetite for financial slang call these “revolvers”.

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.