Swing Line Loan

The swing line lender can do the full advance up to a pre agreed limit typically 10 20 of the total facility for acco the swing line limit is 30 million. Swing line lenders means a initially bank of america and b any of the other lenders designated by the borrowers from time to time in a writing delivered to the administrative agent provided that not more than three lenders shall be swing line lenders at any time. The swing line lender could do the full advance up to a pre agreed limit typically 10 20 of the total facility for acco the swing line limit was 30 million r calton 2013.

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Swingline Loan Meaning Example Benefits And More

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Stretch Loan Definition

Syndicated Loan Definition

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Soft Loan Definition

While the swing line lender makes the loan the risk is really borne by the entire lending group.

Swing line loan. A swingline loan can take the form of revolving credit which is a line of credit that the borrower can draw on and payback repeatedly though the loan normally has an upward limit as long as. The purpose is to support the borrower s cash management needs. Sample 1 sample 2. Necessity is the mother of innovation during the credit crisis.

In addition to standard loan arrangements such as revolving credit lines and term loans syndicated loans frequently include other credit products such as letters of credit and swing line loans. It is a large amount of loan but for a very short duration average of 15 days and on shorter notice. A swingline facility is a sub limit of a syndicated revolving credit loan whereby a lender makes a short term operating not more than five days loan in smaller amounts on shorter notice and with a higher interest rate than is otherwise available for revolving credit loans. A swingline loan is a type of loan that helps the lender to pay the existing debt or loan.

A swing line loan is a short term loan made directly by one lender typically the administrative agent to the borrower on shorter notice than is required for a syndicated loan from all of the lenders. A revolving loan is used where the funding requirements of the company. Similarity to revolving loan. Swing line loan means as the context may require at any time the aggregate amount of swing line advances outstanding to any borrower or to all borrowers.

A large cash loan given to a business in order to help it with its other debts. This is similar to a line of credit in that it is a quick way for a company to acquire a needed amount of cash although different in that it is specifically used for paying off other debts or loans. The interest rate on such loans is higher than the usual loan.