Letters of Credit

A bank issues a standby letter of credit on behalf of a customer. With standby letters of credit, Bank SNB agrees to pay a specified sum of money to a third party upon presenting required documents that show our customer has defaulted or failed to perform under a contract or agreement. This financial arrangement allows you to establish credit with a third party and saves you cash for working capital. Credit is issued as a backup and is not intended to be drawn upon.

A commercial letter of credit can be issued to a vendor to purchase goods or services or for international transactions. Bank SNB guarantees a specified sum of money to a third party upon presenting required documents, helping you gain credibility with a new vendor.

Talk with a commercial banker in your area to explore how letters of credit can help your business.

Nick Presson
Market President, Tulsa
Tulsa Area
Matt Pollock
Regional Chairman
Oklahoma City Area
Rex Horning
Market President, Stillwater
Stillwater Area
Jim Canton
Market President, Edmond
Edmond Area
Clay Jett
Regional Chairman
San Antonio Area
Rick Sirchio
Regional Chairman
Dallas Area
Ed Curtis
Market President, Austin
Austin Area
Patrick Gearhart
Market President, Wichita
Wichita Area
Matt Cassell
Market President, Colorado
Colorado Region
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