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Cover Letter for Loan Application - Sample Template

Provided by the International Finance Corporation


 

Fill out the following letter.  This will be your business plan summary.

BUSINESS Name_____________________
ADDRESS__________________________

 

Date_________________________

Lender's name, bank name, and address

_________________________________

_________________________________

Re: Loan Request for $______________ (fill in amount)

 

Dear (fill in lender's name)___________________________:

I am requesting a small business loan of $____________. I have experience in this industry including ......(mention experience in industry or training that would qualify you to run this business) _______________________________________________

The market for this business... (include one brief paragraph about the industry and its growth)

________________________________________________

________________________________________________

________________________________________________

My target market is... (include one brief paragraph about your target market/customers)

_________________________________________________

_________________________________________________

_________________________________________________

The competition includes.... (include one brief paragraph about your competition and the unique features of your business and how you plan to attract more customers)

__________________________________________________

__________________________________________________

__________________________________________________

__________________________________________________

___________________________________________________

I am investing $___________ of my own money. My collateral consists of business assets having a fair market value of $__________________ and personal assets (if applicable) with a value of $__________________

This loan will help me meet my business targets, which are to increase sales to $_________ by the 12th month and increase profits to $___________ per month. With this loan and in conjunction with this loan, I will make a number of modifications or changes to my current business in order to reach those targets (mention increasing staff, expanding store, signing a new contract, buying more or cheaper inventory, etc.) ____________________________________________________

Attached is my business plan which backs up the loan request. If you have any questions, please contact me at __________________ (include a phone number).


Sincerely,

_________________________ (Your signature)

_________________________ (Your printed name here)

 

 

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© International Finance Corporation [Year of First Publication].  All rights reserved.
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Washington, D.C. 20433
Internet:  www.ifc.org
 
The material in this work is copyrighted. Copying and/or transmitting portions or all of this work without permission may be a violation of applicable law.  IFC does not guarantee the accuracy, reliability or completeness of the content included in this work, or for the conclusions or judgments described herein, and accepts no responsibility or  liability for any omissions or errors (including, without limitation, typographical errors and technical errors) in the content whatsoever or for reliance thereon

2121 Pennsylvania Avenue, N.W., Washington, D.C. 20433, www.ifc.org

The material in this work is copyrighted. Copying and/or transmitting portions or all of this work without permission may be a violation of applicable law.  IFC does not guarantee the accuracy, reliability or completeness of the content included in this work, or for the conclusions or judgments described herein, and accepts no responsibility or  liability for any omissions or errors (including, without limitation, typographical errors and technical errors) in the content whatsoever or for reliance thereon.

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