Loan Appeal Letter
Loan Appeal Letter
Date: September 3, 2050
Beverly Haley
Greensboro, NC 27401
Dear Beverly Haley,
I am writing to formally appeal the recent decision regarding the loan application submitted by [Your Company Name]. We respectfully request a review of our application for the $250,000 loan to support our new business venture.
Loan Details
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Requested Loan Amount: $250,000
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Interest Rate: 4.8% per annum
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Repayment Term: 7 years
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Purpose: To finance the development of a new software product and expand our market reach.
Our initial application was denied due to concerns about projected cash flow. However, we have since refined our financial projections and included additional information that demonstrates a stronger financial outlook. Enclosed with this letter, you will find an updated business plan, revised cash flow projections, and additional supporting documents that address the concerns raised.
We believe that with these new documents, you will find our financial situation and project viability more robust. We are confident that this loan will significantly contribute to our business growth and profitability.
We propose a structured repayment plan with equal monthly installments over the 7-year term, inclusive of the 4.8% annual interest rate. We assure timely repayments to facilitate a smooth financial relationship.
To further mitigate any risks, we are willing to offer valuable assets as collateral, including our office property and existing software assets, detailed in the enclosed documents.
We kindly request a reconsideration of our application based on the updated information provided. If you require any further details or wish to discuss the appeal, please do not hesitate to contact me at [Your Email].
Thank you for your time and consideration. We look forward to a favorable response.
Sincerely,
[Your Name]
[Your Company Name]
[Your Email]
