Business Loans

Letters of Credit


Get the validation necessary to build new business relationships through First Federal. A letter of credit is perfect for scenarios when you're embarking upon new large-scale or international business relations.

Let third parties know First Federal is supporting your project. Our letter of credit can also yield lower costs in regard to insurance bonds. Build a foundation based on trust and respect with a bank-backed letter of credit. 

  • Provides guarantee on payments of large purchases to third parties
  • Can replace need for costly insurance company performance bond
  • Can also be used to guarantee a service
  • Typically issued for 1-year term or less
  • Terms easily renewed
  • Fee is based on face value amount
  • Interest accrues only if we must make payment to beneficiary on your behalf

Meet Our Commercial Lenders