A loan request is written by a bank’s customer or employee and addressed to the bank manager, human resource manager or direct employer.
A loan request letter is important to sell the business idea or investment to the lender. It is a formal request that shows how you plan to use the money and helps the lender know if the business is worthy of the money being borrowed. Additionally, this letter shows the lender of the initiatives you will take to repay the money.
Tips for writing a sample loan request letter
- Read and understand the guidelines for loan borrowing and repayment
- Give the precise reason why you need the loan
- Mention the amount of money you are requesting
- Enclose the necessary support documents where applicable
- Address the reader in a polite and professional language
- Describe how you will repay the loan
- Use the business format style
- Keep the letter directly to the point
Sample Loan Request Letter Templates
When you are short of money for your business, you can borrow a loan from your bank. Check out our free loan request letter template and sample letters that can help you get started in borrowing some funds.
From,
_____________
_____________
Date (date on which letter is written)
To,
________________
________________
Sub:_________________________________________
Dear _________________,
My name is ____________, I have been banking with your bank for ____________ years under the name ____________. I am grateful for the good services that you provide to your customers. I hereby write this letter to request for a ____________ dollars loan for my ____________ business.
I wish to venture into a new business that will be involving manufacturing new products from recycled materials. I wish to make products for decoration like chandeliers from recycled glass and plastic. This business will offer job opportunities to approximately ____________ number of people.
I have read and understood the terms and conditions for the loan and I wish to request for ____________ period to repay in full. The repayment will be made in ____________ installments. Kindly see the attached business proposal, the duly filled and signed small business request form for your consideration. Should you have any questions, kindly reach me through my mobile ____________.
I hope that you will approve this loan request at your earliest.
Thank you, I look forward to your response.
Yours Truly,
__________
(__________________)
From,
__________
__________
__________
__________
Date: _____ (Date on Which Letter is Written)
To,
__________
__________
__________
__________
Subject: Request for Loan.
Dear Sir,
I am a ……………….(type of relationship with the bank) account holder of your bank for the past ………. years and have always maintained high deposits with your bank. Now I am planning to take a loan for …………………………………………(the reason for the loan).
In view of the above, I would request that a loan of …………………………(amount required) may kindly be granted to me for a period of …………years. I have attached all forms and documents as required by the bank for the same. I would be grateful if the same can be processed at the earliest.
Thanking you in anticipation.
With Regards
Yours truly,
___________
Name and Signature
Sample Loan Request Letter
Are you in a fix and you are looking to request a loan from your employer? Here is a good example of a sample loan request letter that will guide you through writing a precise and convincing request.
From,
Malcom Kane,
35 South Tarkiln Hill Dr.
Grove City, OH 43123
United States
Date:____________ (Date on which letter is written)
To,
Jill Crosby,
Intex Enterprises
304 Sunbeam Court
Delaware, OH 43015
United States
Sub; Request for a salary loan
Dear Mrs. Crosby,
I hereby write to make a humble request for a $ 4,000 loan. The loan will be deducted from my salary every month and I wish to repay the loan in 12 months. I wish to take this loan to pay medical bills for my wife who has been hospitalized for one month.
I am in a difficult financial position due to the huge hospital bill. She has been treated but cannot be discharged because of the pending bills and the medical insurance is only paying part of it. Kindly grant me this loan at your earliest so that my wife may be discharged.
I have read and understood the requirements for borrowing and repaying a salary loan issued by the company. I will repay with a monthly installment of $400 inclusive of interest until it is fully repaid. Kindly contact me through 796-473-6840 if you have any questions.
Thank you in advance
Yours sincerely,
__________
Malcom Kane
From,
Malcom Kane,
35 South Tarkiln Hill Dr.
Grove City, OH 43123
United States
Date:____________ (Date on which letter is written)
To,
Jill Crosby,
Intex Enterprises
304 Sunbeam Court
Delaware, OH 43015
United States
Sub; Request for a salary loan
Dear Sir,
I am a salary account holder of your bank for the past five years and have always maintained high deposits with your bank. Now I am planning to take a loan for construction of my house the land for which already belongs to me.
In view of the above, I would request that a loan of Rs 30 lakhs may kindly be granted to me for 15 years. I have attached all forms and documents as required by the bank for the same. I would be grateful if the same can be processed at the earliest.
Thanking you in anticipation,
With Regards,
Yours truly,
____________
Name and Signature
Loan Request Letter Email Formats
Business loans can enable you to develop your business beyond your financial abilities. Have a look at the loan request letter in an email format that you can customize to borrow funds for your business.
Dear Manager,
I am writing to request a small business loan for my bakery business. I have been an account holder in your bank for seven years and I wish to extend my appreciation for your excellent services. I request $ 1,000 to extend the eating area of my business Cake Hub. I am a renowned baker in Oklahoma in providing bakery services for weddings, parties, and in-service.
I started my business four years ago and it has grown enormously over the years. I have employed twenty people in my business in various departments. Due to a large number of customers, I intended to expand the eating area to an outside space where we will be serving cake and beverages. This area will be developed like a garden, well landscaped, with chairs and tables.
I aim at making Cake Hub a place where people can have a good time. This expansion will help me achieve maximum productivity and customer satisfaction. I will repay this loan in installments in six months.
I herewith attach the approved plan, the financial states for the business, and loan application form. Please treat this request with priority.
Thank you.
Lidia Mcfarland
Dear Mr. Stone
I have been a faithful patron of your bank, Benson Bank, with a savings account for the last seven years. There has never been any overdraft against my account. My salary is also banked into my account at your bank at every month-end, and there is always sufficient balance in my savings account.
As such, I am writing to request a loan of $80,000 for my recent purchase of a new home. I have attached the necessary loan documents and forms as per your bank regulations.
Please contact me if you need further information to assist you in making the approval of my request. Your prompt approval response would be appreciated.
Thanking you in advance
_________
Manny Moses
Account Holder
Conclusion
Loan requests are important to help people in financial difficulties. When writing a loan request to your bank or employer, it is essential to describe why you are borrowing the money and the plans you have.
Additionally, mention the amount of money you need and how you intend to repay it. In such a letter, business format, polite and professional language, and concise content are expected.
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