Member notice: Our Cloverdale branch is closed today due to scheduled maintenance by BC Hydro. We apologize for any inconvenience. If you require assistance, please call our Member Service Centre at 1 888 440 4480 or visit a nearby branch.
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Business borrowing
Letter of credit
A promise from Prospera, on your behalf, that funds are available, and payment of a specified amount will be made to the third party.
Build and expand your business
A letter of credit is a great assurance of repayment to a third party to allow you to build or expand your business. A letter of credit allows you to maintain cash flow and working capital by eliminating the need to make advance payments or deposits.
Letters of credit are useful when:
- Dealing with a local municipality who requires a guarantee for site services
- A supplier who needs a guarantee of payment before shipping a product
- Your business enters into contracts or agreements which require you to provide cash collateral to another party to support your business transaction
Book an appointment
Explore other business borrowing solutions
Commercial line of credit
Be ready to seize business opportunities at a moment’s notice.Project financing
Financing to assist with the development of industrial, commercial and residential properties.
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The many ways you can access your accounts, documents, statements, and more:
Business advice
Get help with each stage of your business
Whether you're starting up, growing and busy, stagnating and stuck, or ready to pass the business torch, talk to one of our business advisors for local BC knowledge and the financial expertise you need on your team.
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