Re. Business Loan Request
Dear [NAME], I am [NAME] from the [COMPANY]. The [COMPANY] is a well-established firm working in the construction sector for the last [X] years. The company provides building and renovation services to house owners and different businesses. We are providing our services currently in [LOCATION]. We started our business with a small package, X employees, and a rented building but now the company has been fully established.
We had limited stock and equipment in the beginning but with the help of wonderful teamwork and hard work, we have crossed all the meandering paths. The company, now, generates revenue of $[X] and has settled X employees among which X are permanent and X have been hired on a contract basis.
Our company has been in the market since 20XX and after excelling in this area, we plan to open another franchise of our business in the [LOCATION]. We have a wide audience today and our workload has been ten times more than the previous five years. We provide quality and surety along with practicable insurance plans to the house owners as well. With the best services, we want to enhance our potential to another location.
To open another franchise in the [LOCATION], we need an amount of $X for the equipment, start-up cost, and building allocation. As the company’s reserves are $X, we need a loan of $X from your bank to start the business franchise in the said location. This loan shall be repaid in the one-year installment plan as we anticipate a revenue generation of $X from the first fiscal years of the company. We see no hindrance in the repayment of the loan.
The company has a stable position in the industrial market and financial world. The company secures a credit score of x and has gained approval from SHC to get the loan. The company’s financial report has been enclosed for your convenience.
Having all this explained, I request you to approve the issuance of a loan of $X for the new start-up of the company’s franchise. The repayment plan of the loan has also been enclosed. In case of any questions, you can reach out to me by writing to me at [EMAIL] or call me at [PHONE]. We can schedule a meeting if this matter commands so.
Thank you so much for reviewing my letter.
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Re. Requesting a Business Loan of $[X]
This letter has been written to formally request a loan of $[X] for starting a small business in the [LOCATIO]. Formerly, I have worked in the textile sector, therefore, I have enough experience to base my own business of textile in the [AREA].
Setting new businesses is an arduous task because it takes a lot of mental and physical energy. One has to put everything at risk and put a doubled hard work in the newly set business to get the desired results. Therefore, it is important to check out the financial risks and examine the business potential. For that, I consulted a corporate counseling firm that provides business consultancy to newly started businesses, therefore, it is expected that the risk in this business is very low as I have started the business on a small scale.
According to estimations, this business has the potential to generate a revenue of $X annually that clears that point of repayment of the loan. Moreover, my credit score has been improved as I have not been indebted for long in my financial record. All the financial reports have been attached to this letter so that you can review them and provide an instant response for the loan.
I request a loan of $X that would be paid back in the first year of the repayment annually and then bi-annually in the next two years. I have consulted about the loan repayment packages from your customer representative. Having space for any improvement, please suggest me. For the follow-up, please educate me about the process. Thank you.
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