Prosper NWT offers other debt financing solutions such as a Standby Letter of Credit (SLC) and a Working Capital Guarantee.
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.
A Working Capital Guarantee provides assurance to a conventional lender or creditor that a business will be able to meet its short-term financial obligations and cover its day-to-day operational expenses. It is essentially a form of insurance that safeguards the lender's interests by ensuring that the client has enough funds to manage its working capital needs.
For more information, contact your regional office of the Department of Industry, Tourism and Investment or Prosper NWT.
To apply, complete either the online application or download and complete the application forms below.