Swingline Loan

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DEFINITION of 'Swingline Loan'

A loan that grants institutions access to large amounts of cash in order to cover possible shortfalls from other debt commitments.

INVESTOPEDIA EXPLAINS 'Swingline Loan'

You could compare this to a line of credit or demand loan, as a swingline loan gives companies immediate access to large sums of cash on short notice.

RELATED TERMS
  1. Committed Facility

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  2. Demand Deposit

    Funds held in an account from which deposited funds can be withdrawn ...
  3. Loan

    The act of giving money, property or other material goods to ...
  4. Open-End Credit

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  5. Facility

    A formal financial assistance program offered by a lending institution ...
  6. Uncommitted Facility

    An agreement between a lender and a borrower whereby the lender ...
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