What does Facility Plan mean? Read on to discover the definition & meaning of the term Facility Plan - to help you better understand the language used in insurance policies.
A facility plan is a loan plan offered by a bank to a client who owns or runs a business. The loan may be short- or long-term and is specifically meant to fund operating capital or other capital needed for the client's business. In the context of insurance, the borrower can consider various forms of loan protection insurance.
We hope the you have a better understanding of the meaning of Facility Plan.