αλληλόχρεο δάνειο

English translation: revolving loan, evergreen loan or open-end loan

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Greek term or phrase:αλληλόχρεο δάνειο
English translation:revolving loan, evergreen loan or open-end loan

19:44 Mar 6, 2016
    The asker opted for community grading. The question was closed on 2016-03-10 11:54:08 based on peer agreement (or, if there were too few peer comments, asker preference.)


Greek to English translations [PRO]
Bus/Financial - Finance (general) / Financial reports
Greek term or phrase: αλληλόχρεο δάνειο
Τέλος στο κονδύλι «βραχυπρόθεσμα τραπεζικά δάνεια», περιλαμβάνεται ένα αλληλόχρεο δάνειο ύψους...
Kettie Nossis
Greece
Local time: 16:16
revolving loan, evergreen loan or open-end loan
Explanation:
However, although all three of the above terms apply, the first, ‘revolving loan’ is the one that is most commonly used.

The Κων. Κάντζου Λεξικό Λογιστικής defines ‘αλληλόχρεος λογαριασμός’ to mean ‘revolving account’, ‘open account’.

An overdraft is a type of revolving loan, but is not the only type of revolving loan.

See:
.
http://www.businessdictionary.com/definition/revolving-loan....

https://en.wikipedia.org/wiki/Revolving_credit

http://budgeting.thenest.com/evergreen-loan-banking-24493.ht...

http://www.investopedia.com/terms/e/evergreen-loans.asp

http://www.investopedia.com/terms/o/openendcredit.asp

http://finance.zacks.com/open-end-loan-1806.html

Το κονδύλι αφορά αλληλόχρεο δάνειο κεφαλαίου κινήσεως το οποίο έχει ληφθεί από την Παγκρήτια Συνεταιριστική Τράπεζα µε την υπ΄ αριθµ. 89891/31.12.2008
https://diavgeia.gov.gr/doc/ΒΕΝΕΩΚΨ-ΝΞ4
ΑΔΑ: ΒΕΝΕΩΚΨ-ΝΞ4

... σύµβαση πίστωσης µε ανοικτό λογαριασµό (αλληλόχρεο), δάνειο κ.λ.π. ή απαιτήσεις παροχής χρεογράφων όπως π.χ. από ανώνυµες οµολογίες και τοκοµερίδια, ...
http://docplayer.gr/4833499-Ptyhiaki-ergasia-ue-theua-sygkri...

I also know for a fact that αλληλόχρεο δάνειο is called a revolving loan in English, because I had a commercial company in Greece for 35 years and my company had an αλληλόχρεο δάνειο for 15,000 euros from Eurobank, which did not have to be repaid ever provided that the company or I continued to pay the interest on the money that the company was making use of.

A revolving loan can be up to the value that you can cover by securities and I have a close friend who had a revolving loan for 800,000 euros.

Although an overdraft is a type of revolving loan, overdrafts are usually for much lower values.

--------------------------------------------------
Note added at 11 hrs (2016-03-07 07:25:49 GMT)
--------------------------------------------------

To understand the differences between a revolving account and an overdraft, please see:

http://www.ianswer4u.com/2015/03/difference-between-revolvin...

http://www.businessdictionary.com/definition/overdraft.html


--------------------------------------------------
Note added at 11 hrs (2016-03-07 07:29:07 GMT)
--------------------------------------------------

Sorry, that should have read, "To understand the differences between a revolving loan and an overdraft, please see:"
Selected response from:

Peter Close
Local time: 16:16
Grading comment
Many thanks!
4 KudoZ points were awarded for this answer



Summary of answers provided
5 +1revolving loan, evergreen loan or open-end loan
Peter Close
Summary of reference entries provided
overdraft
Vasileios Paraskevas

  

Answers


11 hrs   confidence: Answerer confidence 5/5 peer agreement (net): +1
revolving loan, evergreen loan or open-end loan


Explanation:
However, although all three of the above terms apply, the first, ‘revolving loan’ is the one that is most commonly used.

The Κων. Κάντζου Λεξικό Λογιστικής defines ‘αλληλόχρεος λογαριασμός’ to mean ‘revolving account’, ‘open account’.

An overdraft is a type of revolving loan, but is not the only type of revolving loan.

See:
.
http://www.businessdictionary.com/definition/revolving-loan....

https://en.wikipedia.org/wiki/Revolving_credit

http://budgeting.thenest.com/evergreen-loan-banking-24493.ht...

http://www.investopedia.com/terms/e/evergreen-loans.asp

http://www.investopedia.com/terms/o/openendcredit.asp

http://finance.zacks.com/open-end-loan-1806.html

Το κονδύλι αφορά αλληλόχρεο δάνειο κεφαλαίου κινήσεως το οποίο έχει ληφθεί από την Παγκρήτια Συνεταιριστική Τράπεζα µε την υπ΄ αριθµ. 89891/31.12.2008
https://diavgeia.gov.gr/doc/ΒΕΝΕΩΚΨ-ΝΞ4
ΑΔΑ: ΒΕΝΕΩΚΨ-ΝΞ4

... σύµβαση πίστωσης µε ανοικτό λογαριασµό (αλληλόχρεο), δάνειο κ.λ.π. ή απαιτήσεις παροχής χρεογράφων όπως π.χ. από ανώνυµες οµολογίες και τοκοµερίδια, ...
http://docplayer.gr/4833499-Ptyhiaki-ergasia-ue-theua-sygkri...

I also know for a fact that αλληλόχρεο δάνειο is called a revolving loan in English, because I had a commercial company in Greece for 35 years and my company had an αλληλόχρεο δάνειο for 15,000 euros from Eurobank, which did not have to be repaid ever provided that the company or I continued to pay the interest on the money that the company was making use of.

A revolving loan can be up to the value that you can cover by securities and I have a close friend who had a revolving loan for 800,000 euros.

Although an overdraft is a type of revolving loan, overdrafts are usually for much lower values.

--------------------------------------------------
Note added at 11 hrs (2016-03-07 07:25:49 GMT)
--------------------------------------------------

To understand the differences between a revolving account and an overdraft, please see:

http://www.ianswer4u.com/2015/03/difference-between-revolvin...

http://www.businessdictionary.com/definition/overdraft.html


--------------------------------------------------
Note added at 11 hrs (2016-03-07 07:29:07 GMT)
--------------------------------------------------

Sorry, that should have read, "To understand the differences between a revolving loan and an overdraft, please see:"

Peter Close
Local time: 16:16
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 152
Grading comment
Many thanks!
Notes to answerer
Asker: Thank you!


Peer comments on this answer (and responses from the answerer)
agree  geokokkinou: As Peter said "revolving: is the term used in official docs. "Evergreen" is for less official use.
27 mins
  -> Thank you. I agree with you. Evergreen is far less formal.
Login to enter a peer comment (or grade)




Reference comments


29 mins
Reference: overdraft

Reference information:
http://www.proz.com/?sp=gloss/term&id=11970704

Vasileios Paraskevas
Greece
Native speaker of: Native in EnglishEnglish, Native in GreekGreek
PRO pts in category: 20
Login to enter a peer comment (or grade)



Login or register (free and only takes a few minutes) to participate in this question.

You will also have access to many other tools and opportunities designed for those who have language-related jobs (or are passionate about them). Participation is free and the site has a strict confidentiality policy.

KudoZ™ translation help

The KudoZ network provides a framework for translators and others to assist each other with translations or explanations of terms and short phrases.


See also:
Term search
  • All of ProZ.com
  • Term search
  • Jobs
  • Forums
  • Multiple search