Definition of facility
1 : the quality of being easily performed
2 : ease in performance : aptitude has a great facility for writing
3 : readiness of compliance
4a (1) : something that makes an action, operation, or course of conduct easier —usually used in plural facilities for study The resort has a wide range of facilities for young and old alike. (2) : lavatory 2 —often used in pluralb : something (such as a hospital) that is built, installed, or established to serve a particular purpose
Examples of facility in a Sentence
The facilities are at the end of the corridor.
He had a great facility for writing.
He had great facility with words.
She handled the crisis with facility.
Recent Examples of facility from the Web
Simpson has spent the past nearly nine years in the medium-security facilities of Nevada’s Lovelock Correctional Center for his involvement in an armed robbery of two sports memorabilia dealers in a Las Vegas hotel room in 2007.
Mott said Lear has been looking to expand its facility for the better part of two years.
The San Diego facility took in 91 dogs, Carlsbad received 21 and the shelter population in Bonita went up by 79 dogs during the four day period.
The motorcycle company employs more than 600 steelworkers and machinists at its 400,000-square-foot Vehicle & Powertrain Operations facility near Kansas City International Airport.
Since the team started playing at the new uptown facility, attendance has been close to the highest in the league.
Cicero helped fill sandbags over the weekend at a Nunda Township facility, and whole families showed up to assist.
Anyone who feels sick is urged by health officials to contact their healthcare provider before going directly to a healthcare facility.
The House passed a measure requiring public schools to provide alternate restrooms for transgender youths who prefer to use facilities that match their gender identity.
These example sentences are selected automatically from various online news sources to reflect current usage of the word 'facility.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.
Financial Definition of FACILITY
What It Is
A facility is essentially a bank loan agreement that a company can use on and off for short-term borrowing purposes.
How It Works
For example, let’s assume Company XYZ is a jewelry manufacturer. The company is typically flush with cash in July when retailers place their orders for the upcoming Christmas season. The company is typically tight on cash in December, when orders are lower and it is buying supplies to manufacture the coming year’s designs.
This ebb and flow of cash can ruin a company if it doesn’t have access to a facility. If Company XYZ gets, say, a $2 million facility from the bank, it can borrow up to $2 million (and not necessarily all at the same time) to “get by” in December and then repay that cash six months later in July when it is flush with cash again.
Bank facilities can be overdraft facilities, which provide short-term loans to companies only when their cash accounts actually run dry, or credit facilities, which provide short-term loans to companies when they need supplemental cash for various purposes. Banks might also provide letter of credit facilities or even term loan facilities.
Facilities typically are for limited amounts and don’t require collateral. Often, they come about as part of an equity offering or other financial event that a company may undertake. The terms vary widely, but in most cases, the bank requires repayments monthly or quarterly, in addition to interest, though often companies can “term out” a facility, meaning they can negotiate a longer repayment period with the lender for some larger balances.
Why It Matters
The purpose of most bank facilities is to ensure that a company has access to cash at all times, and they can be particularly important for companies with seasonal sales cycles or other situations in which cash balances are particularly low at times. This prevents the company from having to lay off workers, reduce growth or shut the doors when cash is temporarily low.
FACILITY Defined for English Language Learners
Definition of facility for English Language Learners
: something (such as a building or large piece of equipment) that is built for a specific purpose
: something that makes an action, operation, or activity easier
: skill and ease in doing something
FACILITY Defined for Kids
Definition of facility for Students
1 : something built for a particular purpose a sports facility
2 : something that makes an action, operation, or activity easier Our hotel room had cooking facilities.
3 : ease in doing something She handled the job with facility.
Seen and Heard
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