Business Lines of Credit
Have cash available immediately to help manage cash flow and operational expenses, whenever you need it.
- Apply only once
- Access money when you need it
- As you pay the balance down, the funds become available for use again
- You only pay interest on the amount you borrow for the number of days you've borrowed it
- Your payments can be as low as the monthly interest charged
- Protects you from overdrawing your account
- Interest rate is more competitive than a credit card
Letter of Credit - A Letter of Credit means you can enter into a contract or agreement with confidence and guarantees of payment. A great example is that municipalities often request Letters of Credit from property developers prior to approving their project. They are used to build and solidify relationships, eliminate cash advances or prepayments, and avoid delaying transactions.