Redraw

A redraw is taking a new Draw on a revolving facility after you have repaid part of an earlier balance. Because the facility is revolving, repaying restores Available Credit, and that restored room can be drawn again without opening a new line.

Redraw capacity is the practical difference between a revolving facility and a term loan: a term loan, once repaid, is closed, while a facility's limit stays available for reuse as long as the line is open. Policy Stack tracks each draw and repayment on the facility ledger, so available credit always reflects what can be redrawn right now.

Related terms: Draw, Available Credit, Credit Limit