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Letters of Credit

A letter of credit can provide your business with extra credential support to enhance your possibilities with a new supplier — especially when it comes to international commerce.

  • Provides guarantee on payments of large purchases to third parties

  • Can replace the need for costly insurance company performance bond

  • Easily renewable terms

Jennifer Davis standing in a field with a farmer and a clydesdale
Amanda Fosdick standing in a field with a farmer

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  • Typically issued for 1-year term or less

  • Fee is based on face value amount

  • Interest accrues only if we must make payment to beneficiary on your behalf

  • Can also be used to guarantee a service



Get More Help

What is the difference between a hard and soft credit inquiry?

What types of credit products does OMB offer?

How do I apply for a loan through OMB?

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