Docstoc

Loan Request Letter

Document Sample
Loan Request Letter Powered By Docstoc
					                                   Loan Request Letter


______[date]_______



___[address line 1]___

___[address line 2]___

___[address line 3]___



Dear Friend and Supporter,

I am excited to tell you about a way for you to support ___[business name]___ and earn an
attractive return. ___[Business name]___ is raising $___[total loan amount]___ from relatives,
friends, and business associates, and I thought you might be interested in participating.
[Optional: Attached to this letter are ___[number of]___ loan options for you to consider; the
loan amount and interest rate varies with each.]

[Optional paragraph:]

   I've already raised $___[amount]___ from family members and from ___[awards or other
sources]___. I thought you might be interested in providing a loan for the remaining
$___[amount]___.

[End optional paragraph]

___[Write one or two paragraphs here describing the highlights of your business, for example,
what you will sell, who will buy it, why they'll buy it, and why now is the right time. Refer to an
attached business plan or executive summary, if provided.]___.

   I offer you this opportunity because I believe it is good for my business and good for you.
For me, it allows me to raise the money I need to grow my business from people I trust, and at an
affordable rate. For you, the ___[interest rate]___% I'm offering provides a competitive short-
term return on your money. If you choose to make the loan, ___[summarize repayment plan]___.
[Choose one of the two alternatives below.]

[Alternative 1]

   In addition, my proposal offers you the protection of a legally binding loan agreement. If you
agree to the loan terms set forth in this letter, I'll prepare a promissory note reflecting my
promise to repay the loan at these terms. The loan will start on the day we transfer the funds. I'll
send a check from my business account to the address you specify, will maintain a loan log of
my payments, and will have my accountant provide you year-end tax summary reports.

[End Alternative 1]

[Alternative 2]

   In addition, my proposal offers you the protection of a legally binding loan agreement and
the convenience of a third party to manage the repayment. I have retained ___[name and
description of third party]___ to handle our loan. ___[Name of third party]___ has created a
promissory note for us and will manage the repayment of the loan. My repayments to you will be
preauthorized to come out of the ___[business name]___ corporate account electronically, and
the funds will be deposited into a bank account that you designate. ___[Name of third party]___
will also provide us access to information about payment status as needed and history, will
maintain records, and will provide year-end tax summary reports.

[End Alternative 2]

   I hope that you will consider this mutually beneficial opportunity. I truly believe that
___[business name]___ is poised for success and I look forward to your support in growing the
business. Thank you for your consideration; I look forward to discussing this opportunity with
you further.

Sincerely,

_____[signature]_____

______[name]______

_______[title]_______

___[business name]___

				
Work  Session Work Session Owner http://snurl.com/worksession
About Are you not finding the perfect form to suit your professional and personal needs? GET HELP - CHECK US OUT