Letter of Credit

Provide assurance to your vendors that they will receive full payment of a contract under any circumstance. By initiating a letter of credit, you provide proof of your credit and ability to repay to any third party.

Letter of Credit
Summary
  • Available from $1,000 to $1.5 million
  • 1 year term
  • Opportunity for renewal at end of term
How It Works

By securing a standby letter of credit (SLOC), you (the buyer) are providing a third party (the seller or creditor) proof that they will receive full payment according to contractual commitment. Essentially, it is a payment of last resort should you fail to make payment for any reason.

You will make standard payments to the seller according to the contractual guidelines. But if you fail to make payments, the seller can cash in the SLOC with the issuing bank (Mountain West Bank). We will then make the payment to the seller on your behalf. At this point, you will owe the funds to us, to be repaid as a loan.

Remote Deposit

Remote Deposit Capture

Deposit checks into your business accounts without leaving your desk.

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Peak Business Savings

Peak Business SavingsMore Details