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LSDefine

Simple English definitions for legal terms

revolving loan

Read a random definition: recompensation

A quick definition of revolving loan:

A revolving loan is a type of loan that can be renewed when it is due. This means that the borrower can keep borrowing money as long as they pay back what they owe. It's like having a credit card, but instead of buying things, you're borrowing money. The borrower can use the money for anything they need, like buying a car or paying for school. However, they will have to pay interest on the money they borrow.

A more thorough explanation:

A revolving loan is a type of loan that can be renewed at maturity. This means that the borrower can continue to borrow money as long as they pay back what they owe. For example, a credit card is a type of revolving loan. The borrower can use the credit card to make purchases and pay back the balance over time. Once the balance is paid off, the borrower can continue to use the credit card to make purchases.

Another example of a revolving loan is a home equity line of credit. The borrower can borrow money against the equity in their home and pay it back over time. Once the balance is paid off, the borrower can continue to borrow money against the equity in their home.

Revolving loans are useful for borrowers who need access to funds over a long period of time. They are also useful for lenders because they can earn interest on the money that is borrowed.

revolving letter of credit | revolving performance bond

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Dkk
19:42
SEO is big money
2016 pushed the conservative party into populism irreversibly
Dkk
19:43
Maybe, but if this is populism, then every election is populist.
19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
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