Revolving credit facilities are a type of committed credit facility which allow the borrower to borrow on an ongoing basis while repaying the balance in regular payments. Each repayment of the loan, minus interest and fees, replenishes the amount available to the borrower. Revolving credit facilities generally have no date of expiration and continue as long as the borrower retains good credit.
[Last updated in November of 2021 by the Wex Definitions Team]