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
  • Transferable

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.

 

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