Sample Business Loan Application Letter
Sample Business Loan Application Letter
Date: September 3, 2050
Mr. Richard Hayes
Loan Officer
Bright Future Bank
4567 Commerce Street
Los Angeles, CA 90001
Dear Mr. Hayes,
I am writing to formally apply for a business loan from Bright Future Bank to support the expansion of [Your Company Name], a growing technology business. As we continue to see increased demand for our products and services, we seek financial assistance to scale our operations and better serve our clients.
Loan Request Details:
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Loan Amount: $250,000
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Purpose of Loan: To finance the acquisition of new equipment, hire additional staff, and expand our marketing efforts.
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Repayment Term: 5 years
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Collateral: Business assets, including equipment and inventory valued at $150,000.
Business Overview: [Your Company Name] has been operating successfully for over five years, with a strong track record of growth and profitability. Our business has consistently met or exceeded revenue targets, with annual sales surpassing $1 million. We have a well-defined expansion plan that includes the introduction of new product lines and entry into new markets.
Enclosed with this application, you will find a detailed business plan, financial statements for the past three years, and a projected cash flow analysis. These documents provide a comprehensive overview of our business model, financial health, and the expected impact of the proposed expansion.
We believe that with your support, [Your Company Name] can achieve its next phase of growth, contributing to job creation and economic development in the community. I would appreciate the opportunity to discuss this application further at your earliest convenience.
Please feel free to contact me directly at [Your Number] or [Your Email] to arrange a meeting or if you require any additional information.
Thank you for your time and consideration of this loan application. I look forward to your positive response.
Yours sincerely,
[Your Name]
[Your Company Name]
[Your Number]
[Your Email]
