Prosper NWT — Standby Letters of Credit
Northwest Territories
Government of the Northwest Territories, Prosper NWT
Program Contact Details
prospernwtinfo@gov.nt.ca
1-800-661-0599
Industry
All industry sectors
What is this funding for?
Contract and payment security in Northwest Territories
Program Description
Prosper NWT offers other debt financing solutions such as a Standby Letter of Credit (SLC). A Standby Letter of Credit (SLC) is a type of guarantee that gives a third party the assurance that Prosper NWT will make a payment in the event the business is unable to meet their obligations. Businesses may need a Standby Letter of Credit to secure a contract, bid, or deals or to provide security to suppliers. It might also be used by a business to negotiate better terms and conditions.
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