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Wells Fargo Standby Letter of Credit

Wells Fargo Commercial Letter of Credit details
  • Available to customers with an established Wells Fargo business checking or savings account
  • Up to $250,000
  • Secured by Wells Fargo deposits
  • Typically businesses with $2-5 million in annual sales

Great For

  • Securing deposit to guarantee performance of defined contract terms; Wells Fargo will only draw on security in event of non-performance

Other Features

  • One year; renewable term
  • Two week processing upon complete Letter of Credit application

Fees

Fees

  • Call 1-844-807-5060 to learn about the fees associated with a Letter of Credit.
Call us at 1-844-807-5060 Mon – Fri: 6:00am – 6:00pm PT

Why a Standby Letter of Credit?

The Standby Letter of Credit is used as a guarantee of performance of defined terms where the Letter of Credit is only drawn upon in the event of non-performance of the contract.