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Standby letters of credit can help provide your company the credit support necessary to obtain business that otherwise was unattainable. Through a substitution of credit risk, your client is reassured by Flagstar (as the issuing bank) that you will fulfill your financial or performance obligation.
Flagstar issues letters of credit on our clients’ behalf after evaluating credit worthiness—similar to how a commercial loan may be underwritten. Our commercial lenders and business bankers can help you discover if standby letters of credit can aid in the growth of your company.