Establish good working relationships with your vendors by guaranteeing to pay them promptly.
A letter of credit helps you build stronger vendor relationships, because it assures your vendors that they’ll get paid in full and on time.
We offer two types of letters of credit:
In most cases, we can give you a decision on a letter of credit in just a few weeks. In some cases, we may need to ask you for more details, which may delay the approval.
Our letter of credit application lists all the information and documentation we need to get started. In some cases, we may ask for additional information after you submit your application.
Payment will only be required in the event the letter of credit is drawn on to pay the vendor. The minimum payment will be calculated based on the terms agreed upon in your promissory note.
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