Business and Personal Finance Dictionary
# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
- ADVANCE FORMULA
A provision sometimes used in lines of credit as a sublimit on the maximum amount that can be borrowed. Typically, an advance formula limits the amount that can be borrowed under a line of credit to the lesser of the amount of the line or some percent of accounts receivable collateral.Back