Letters of Credit
We’ve got your back.
On occasion you may need the bank to back up an obligation to a third party. You can do this with a Nantucket Bank Standby Letter of Credit. Standbys are used for a variety of purposes, replacing the need for bid bonds, performance bonds, down payments, guarantees and evidence of financial responsibility. A Nantucket Bank Letter of Credit is widely accepted and is usually less expensive than bonds issued by insurance companies.
For more information, call 508.228.0580 or contact one of our Business Bankers directly.