negotiable paper, as drafts, bills of exchange, etc., given in the course of business.
2.
corporate promissory notes, usually short-term and unsecured, sold in the open market.
Origin
1830-40, Americanism
Examples from the web for commercial paper
With few retail deposits to speak of, the firm gorged on long-term debt and commercial paper to fund its lending.
It would be frozen the commercial paper market, which corporations depend on for their short-term borrowing needs.
Outside professional management of your commercial paper program is highly recommended.
British Dictionary definitions for commercial paper
commercial paper
noun
1.
a short-term negotiable document, such as a bill of exchange, promissory note, etc, calling for the transference of a specified sum of money at a designated date