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

    A credit facility whereby terms and conditions are clearly defined ...
  2. Facility

    A formal financial assistance program offered by a lending institution ...
  3. Debt

    An amount of money borrowed by one party from another. Many corporations/individuals ...
  4. Line Of Credit - LOC

    An arrangement between a financial institution, usually a bank, ...
  5. Loan

    The act of giving money, property or other material goods to ...
  6. Uncommitted Facility

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