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

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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. A letter of credit is a document issued by a bank to guarantee payment to a seller. A cleanup loan is a short-term loan used to repay existing debt. A compensating balance is a minimum balance that a bank requires a borrower to keep in their account as collateral. A roll-over refers to the renewal of a loan or investment.

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