Request-Letter for Loans

Request-Letter for Loans :

This Letter should be written in The Letter-Pad of the Company.

From :

The Sender's Name,
Door Number and Street's Name,
Area Name,
Postal Code : XXXXXXX
Phone Number : 0000 - 123456789
E-mail ID :

Date :

Reference :

TO :

Addressee's Name,
The Company's Name,
Full Address with Phone Number.

Subject :

Dear ____,

Simply Magazine's growth requires more capital to finance our Accounts Receivable. We propose borrowing 50% of all eligible receivables under 90 days.

Simply Magazine has been historically profitable, as the enclosed information indicates, and sells to well rated Fortune 500 companies such as Target, Kroger, Walgreen and Dollar Tree. We have had no bad debts in the last 2 years due to the financial strength of our customers.

Simply Magazine has its basic checking account with you and maintains balances of over $90,000 on an average day, according to your bank statements, with the most recent enclosed for your reference.

If these terms meet your requirements, we would be eligible to borrow up to $1,000,000. Let us know what we can do to persuade you we are worthy of your trust and financial support. We would be delighted to meet with you at any time that suits your convenience.

Thanking you.

Yours Sincerely,

(The Sender's Signature)

The Sender's Name

Note that Tom lays it on the line. He proposes soft terms, only 50% when 70% to 80% is more common, and does not negotiate as to price, terms, and the like. The banker will tell him what they will or won't do, and that will be that. Their guidelines will determine what is done. No need to joust about the inevitable and it only undermines your position by challenging theirs. Loan officers have little flexibility as to terms.

Request-Letter for Loans

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