Letter from The Branch Office to The Head Office Recommending Loan




Letter from The Branch Office to The Head Office Recommending Loan :





XXXXX BUSINESS HOUSE

Door Number and The Name of The Street,
City with ZIP Code.
Phone : 0011 - XXXXXXXX
Fax : 0011 - XXXXXXXX



DATE


To :

The Manager,
ZZZZZZ Business House,
Door Number and The Name of The Street,
City with ZIP Code.
Phone : 0011 - XXXXXXXX
Fax : 0011 - XXXXXXXX


Dear Sir,


Mr. Sita Ram, a partner in the firm of M/s Girdhari Lal & Sons, Chippitola - Agra, approached me today with a request for a loan of $ 25,000. This amount is required by this firm to pay the balance of the price of miscellaneous stores purchased by him at the Regional Disposal Centre of the Central Ordnance Depot. - Agra. The store's purchases consist of different kinds of engineering goods and spares of transport vehicles and have been purchased for $ 40,000. Out of this amount the firm has paid $ 15,000 and is required to pay the balance of $ 25,000 before the end of this month. The loan is required for a period of six months only.


The firm is in a position to offer a plot of free hold land measuring 100 sq. yards in a commercial complex in the newly developed Transport Nagar as security for the above loan.


Although the security offered does not completely cover the advance asked for, I recommend that Mr. Sita Ram’s request be granted, as in my opinion he will be able to sell off the stores at a considerable profit and repay the loan within the stipulated time. Further the firm under reference has been a customer of our branch for over twenty years. During that time we found it fulfilling all the commitments.


This proposal is not being submitted in the usual form No. B.S. as the firm is in urgent need of the funds for the reasons stated above.


Yours Faithfully,


Vasu


Manager

For XXXXX BUSINESS HOUSE




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Letter from The Branch Office to The Head Office Recommending Loan
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