Bank Approval Letter
Bank Approval Letter
Jodi Islam
Email: jodi@pacificcapital.com
May 30, 2053
Elizabeth Edwards
Stellar Startup
Salem, MA 01970
Dear Ms. Edwards,
I hope this letter finds you in good health and high spirits. I am writing to formally announce the approval of your financial request for a small business loan application, as discussed during our recent meeting.
I am pleased to inform you that your loan application has been thoroughly reviewed and has gained the approval of our esteemed financial institution. We recognize the potential of your small business venture and believe that this loan will provide the necessary support for its growth and success.
The approved loan amount for your small business is $50,000, subject to the following conditions:
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The funds will be disbursed in three installments of $16,666.67 each, with the first payment scheduled for June 1, 2053.
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Interest will be calculated at a fixed rate of 5% per annum and will accrue monthly.
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Monthly installments will commence three months after the disbursement of the first payment and should be paid by the 1st of each month thereafter.
Please ensure that you carefully review the attached loan agreement, which outlines the specific terms and conditions of this approval. Should you have any questions or concerns, please do not hesitate to contact our Customer Service Department at customerservice@pacificcapital.com or 222 555 7777.
Congratulations on this significant milestone for your small business. We are confident in your ability to utilize these funds effectively and look forward to witnessing the growth and success of your venture.
Yours sincerely,
Jodi Islam
Loan Officer
