Loan Renewal Letter
LOAN RENEWAL LETTER
John Doe
Chief Financial Officer
Bank Enterprises
456 Corporate Lane
Los Angeles, CA 90001
Dear Mr. Doe,
I trust this letter finds you in good health and high spirits. We are writing to address the upcoming renewal of the loan agreement between [Your Company Name] and Bank Enterprises.
As the current loan agreement, initiated on March 1, 2052, is set to expire on February 29, 2056, we propose renewing the loan to continue supporting our collaborative projects and growth initiatives. Our partnership has been invaluable, and we are keen to extend our successful working relationship.
Details of the Proposed Renewal:
|
Loan Detail |
Current Term |
Proposed Renewal |
|---|---|---|
|
Loan Amount: |
$500,000 |
$500,000 |
|
Interest Rate: |
4.25% per annum |
4.25% per annum |
|
Term Length: |
4 years |
5 years |
|
Repayment Schedule: |
Semi-annual payments |
Quarterly payments |
|
Start Date of New Term: |
March 1, 2052 |
March 1, 2056 |
We believe these updated terms will continue to foster our mutual growth and operational efficiency. To proceed with the renewal, kindly review and sign the enclosed renewal agreement and return it to us by September 30, 2055.
Should you have any questions or require additional information, please do not hesitate to contact me directly at [Your Company Number] or via email at [Your Company Email].
Thank you for your prompt attention to this matter. We look forward to your positive confirmation and to continuing our successful partnership.
Sincerely,
[Your Name]
Chief Financial Officer
