Lines of Credit & Letters of Credit
The unexpected project just came unexpectedly and you need approved funding for your company to move forward. What do you do?
It’s important to know the credit will be there when you need it. FSG has great short-term financing options for when you need that assurance. We have options to provide your business with the working capital you need, including a Business Line of Credit and a Business Letter of Credit. Learn more about the commercial credit options at FSG Bank below.
Business Line of Credit
A line of credit (or Business LOC) might be just the short-term financing solution for your business. As you pay down your principle, the available financing in your revolving credit line increases, providing you with working capital that your business can rely on. What is so special about this commercial credit option at FSG? With FSG’s Business LOC, you have the advantages of:
- Credit lines starting at $10,000
- Terms up to 24 months
- Competitive interest rates
- Low annual fee of 0.50%
Business Letter of Credit
When you want to ensure payment to your vendors before sending the payment, come talk with us about securing a business letter of credit. With a Business Letter of Credit, we’ll set aside the money that you need and write a guarantee that your business holds the noted amount. Once the other side of the transaction is completed to your satisfaction, we’ll release the funds.
Whether you need a documentary letter showing your primary form of payment or a guarantee of the amount you have on standby, an FSG letter of credit can save you money as you draw down your credit through the life of your project. That’s smart business.
