Business Letters & Lines of Credit*
Business Letters of Credit Help Establish New Relationships With Vendors
Business letters of credit are guarantees of payment to help you make purchases or transact business with companies, municipalities or other entities with which you have limited trading experience or credit history. Business letters of credit available through our affiliates can either be secured or unsecured:
- Letters of credit secured by brokerage assets can be provided up to $5 million.
- Unsecured letters of credit or letters secured by other assets can be provided up to $1.5 million.
Accessing Business Lines of Credit to Meet Your Cash Flow Needs
With a business line of credit, you can provide assurance to vendors, contractors and others that you will be able to meet your contractual obligations. Business lines of credit from Wachovia can be either secured or unsecured with a loan term of up to three years. Secured lines of credit have a maximum amount of $5 million, while unsecured lines of credit are limited to $1.5 million.
Contact Us for More Information About Business Lines of Credit
For more information about business lines of credit from Wachovia, contact a Wachovia Securities Financial Advisor.
*Available only in Alabama, Alaska, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Illinois, Kansas, Maryland, Mississippi, New Hampshire, New Jersey, New York, North Carolina, Nevada, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas, Vermont, Virginia, Washington D.C., and Wisconsin.
Lending and other banking services available through the Banking Services Group of Wachovia Securities are offered by banking and nonbanking affiliates of Wachovia Corporation, including, but not limited to, Wachovia Bank, National Association; Wachovia Bank of Delaware, National Association; or Wachovia Financial Services, Inc. All loans and lines of credit are subject to credit approval, verification and collateral evaluation. Initial decision is subject to your meeting specific underwriting requirements, and final approval will be based upon your satisfying those requirements. Products not available in all states and are subject to change without notice.
