Definition A “draw down” refers to the act of accessing funds from a line of credit or borrowing against a financial instrument. In the banking and financial services sector, it typically involves the borrower taking out funds from a pre-approved…
Definition Credit, in the financial context, refers to the trust which allows one party to provide resources (such as money, goods, or services) to another party wherein the second party does not reimburse the first party immediately but promises either…
An elastic credit line typically refers to a type of open-ended, revolving credit line that a borrower can draw upon when needed. It’s named “elastic” because it provides flexibility in borrowing, similar to how an elastic band can stretch and…