Letters of Credit
If you've ever gone to a networking event, you know it can really help to get introduced by a trusted friend (and we're not talking about one of those "Hello, my name is" stickers, either).
More than an introduction, a letter of credit is a guarantee of payment to your suppliers — and it can be a great way to establish a solid relationship with a company when you don't have a history with them.
We offer several types of Letters of Credit:
- Clean, Documentary, and Restricted Credit
- Irrevocable Credit
- Revocable Credit
- Revolving Credit
- Open Form
Letters of Credit can:
- help you maintain liquidity by not forcing you to make upfront payments
- enable you to work with vendors who might not do business with you otherwise
- conserve cash flow and working capital by eliminating the need to make advanced payments or deposits
- demonstrate your credit-worthiness and give you greater access to key suppliers
Call or stop by East Kootenay Community Credit Union to find out how Letters of Credit can help your business.