What distinguishes a 'revolving credit facility' from a term loan at a commercial bank?
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A
A revolving facility has a fixed repayment schedule; a term loan can be redrawn
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B
A revolving facility allows the borrower to draw down, repay, and redraw funds up to a set limit; a term loan disburses funds once and requires scheduled repayment
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C
A revolving facility is always secured; a term loan is always unsecured
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D
A revolving facility is only available to retail customers; a term loan is for businesses