Free Loan Request Denial Letter Template
Loan Request Denial Letter
[Your Company Name]
[Your Company Address]
[Your Company Email]
June 6, 2050
Cyrus Ortiz
Corpus Christi, TX 78401
Dear Mr. Ortiz,
Thank you for applying for a personal loan with [Your Company Name]. We appreciate your interest in our services and the time you took to submit your application. After a thorough review of your application and supporting documentation, we regret to inform you that your loan request has been denied.
The primary reasons for this decision are as follows:
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Credit Score: Your current credit score of 580 falls below our minimum requirement of 620.
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Debt-to-Income Ratio: Your debt-to-income ratio of 45% exceeds our acceptable limit of 40%.
We understand this news may be disappointing. To improve your chances of approval in the future, we recommend the following actions:
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Work on improving your credit score by paying off outstanding debts and reducing credit card balances.
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Consider reapplying once your debt-to-income ratio falls below 40%, which may involve reducing monthly debt obligations.
If you have any questions regarding this decision or would like additional feedback, please feel free to contact our office at [Your Company Number] or via email at [Your Company Email]. We would be happy to assist you further.
Thank you again for considering [Your Company Name] for your financial needs. We wish you the best of luck in reaching your financial goals.
Sincerely,
[Your Name]
Loan Officer
