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Letter of credit
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

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Explore other business borrowing solutions

Commercial loan

Invest in your business’s growth without tying up working capital.

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Commercial line of credit

Be ready to seize business opportunities at a moment’s notice.


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Project financing

Financing to assist with the development of industrial, commercial and residential properties.  

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Commercial mortgage

Buy, renovate, or refurbish a promising commercial property.

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Ways to bank with us

The many ways you can access your accounts, documents, statements, and more:
Business Advice

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 knowledge and the financial expertise you need on your team.

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How to reach us

Call our Member Service Centre

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1 888 440 4480

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Saturday 9 am - 5 pm

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