revolving loan love

Definitions

from Wiktionary, Creative Commons Attribution/Share-Alike License

  • n. A type of loan that is secured against a property and allows the owner to borrow and repay money at his or her leisure. Periodic payments of at least accumulated interest are required but the loan is fully open: may be paid out in whole or in part at any time and, if there is still money available under the loan ceiling, the borrower may take more money for his or her use.

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