Credit facilities are financial arrangements that allow individuals or businesses to borrow money from a lender, typically a bank or financial institution. These facilities can take various forms, such as lines of credit, term loans, or overdrafts, and are designed to provide funds for specific needs, like purchasing equipment or managing cash flow. The terms of credit facilities usually include interest rates, repayment schedules, and borrowing limits. They help borrowers access funds quickly and efficiently, enabling them to meet short-term or long-term financial goals while managing their overall financial health.