Letters of Credit
Get the validation necessary to build new business relationships through HVCBank. A letter of credit is perfect for scenarios when you're embarking upon new large-scale or international business relations.
Instead of reaching out to an insurance company for a performance bond, our letters of credit can provide the backing you need. Build a foundation based on trust and respect with an HVCBank Letter of Credit.
- Provides guarantee on payments of large purchases to third parties, such as vendor or the government
- Can also be used to guarantee a service
- Terms are set by third party
- Principal generally due on demand
- No principal balance exists unless payment is required under the terms and conditions of the letter
- Can replace need for insurance company performance bond
- Fee is based on face value amount
- Interest accrues only if beneficiary requests an advance
To start the loan process, either print, fill out, and return our our personal financial statement to a branch or click on the Request Info button below, provide your information, and one of our helpful loan advisors will be in contact with you shortly.