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.
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
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
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.
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Start your application off right by choosing one of our mortgage lending professionals. By assigning a lender to this application, you are guaranteed superior personal service.