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Letters of Credit

Let Inter National Bank’s financial strength back you up during your negotiations with suppliers! A letter of credit from Inter National Bank will enable your business to purchase goods, assuring payment to a seller. 

Terms & Requirements

Typical Requirements

Satisfactory Credit History

Existing business with 2 full years of business history

Any principal owning 20% or more should guarantee the credit

3 most recent years of business and personal tax returns (Borrower and Guarantors)

3 most recent years of business financial statements and interim business financial statements

Current Personal Financial Statements (Download a personal financial statement template here).

Current debt summary schedule for business and guarantor

Terms

Letters of credit are typically secured by a certificate of deposit. 

All letters of credit should have an expiration of one year or less and must match the maturity of the CD. Unless fully secured by a cash deposit, a letter of credit should not be subject to an automatic renewal clause.

Competitive variable and fixed rates

Pay no interest until funds are drawn

Payment terms may vary

Why Choose INB?

International banking is not foreign to us. At Inter National Bank, we make it easy to live, travel and work on both sides of the border with a full suite of financial products designed for you.

Frequently Asked Questions

If you have a question or need help with your account, we are a click or short phone call away. Find answers to our most common questions below, or if you would like, contact us and we will be more than happy to assist you.

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