A letter of credit may be performance-based (like putting in a new driveway) or it might be used instead of putting down a required cash deposit to do business with a new vendor. A letter of credit assures the requesting party that there are funds in place that can be accessed in case you don't perform your duties under your agreement with them. Letters of credit are backed up with a loan agreement between you and ENB that will be activated if the letter of credit is drawn upon.
Every loan request is unique. Our in-house loan team will take the time to understand your credit needs and help you determine the type of loan which is best for you. All loan decisions are made locally, giving us the ability to answer your questions and seek approval for your loan quickly. Please contact one of our loan officers today, for current rates, applications and disclosures. Credit qualifications apply for all loans.