A prearranged, short-term bank loan made on a formal or informal basis, and typically reviewed for renewal annually, is called a line of credit.

Name: A prearranged, short-term bank loan made on a formal or informal basis, and typically reviewed for renewal annually, is called a line of credit.
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A line of credit is indeed a prearranged, short-term loan from a bank that is typically reviewed for renewal on an annual basis, allowing borrowers to draw funds as needed up to a predetermined limit.

A Prearranged, Short-Term Bank Loan Made on a Formal or Informal