Q:

How do you write a letter requesting a loan?

A:

Quick Answer

A letter requesting a loan should be clear, provide all necessary information, and be typed using the standard fonts and format style on a computer word processor program, according to AviatekBank.com. Spelling and grammar errors should be avoided to appear as professional as possible, and it should use formal language.

Know More
How do you write a letter requesting a loan?
Credit: carebott E+ Getty Images

Full Answer

The loan letter should list the applicant’s complete name, address, contact number and details about the applicant's occupation. AviatekBank.com advises against omitting the age of the applicant because it is an important factor for lenders.

Special care should be taken when completing the section that details the applicant’s monthly income and expenditures, and then the applicant should indicate the amount of the proposed loan. After providing this information, the applicant should next indicate the amount and number of monthly payments necessary to repay the loan. AviatekBank.com explains that it is unwise for the applicant to request an amount higher than what is realistic for the applicant to manage because doing so could cause the request to be denied.

According to AviatekBank.com, loan request letters should never hide a bad credit rating, and the applicant should use the letter to explain what caused a bad credit rating. It should also include what the applicant is doing to fix the issue. Loan request letters should be sent through registered mail in order to receive a receipt of delivery upon reaching the lender.

Learn more about Personal Loans
Sources:

Related Questions

  • Q:

    How can you write a letter to request a meeting?

    A:

    To write a letter requesting a meeting, keep your letter short and to the point, with your request made at the very beginning of the letter. Make it very clear that you are requesting a meeting and why you are making the request. Provide reasons or incentive for the person to whom you are writing to grant your request.

    Full Answer >
  • Q:

    How do you write a letter requesting donations for a kids' team?

    A:

    The most efficient way of writing a letter requesting a donation for a youth team is by using a personal yet professional and direct tone, clearly stating what is needed in order for the team's success, and making the potential donor feel that he is a part of the team. Stay positive and make sure the potential donor thinks that he has been chosen because of a particular affinity with the team.

    Full Answer >
    Filed Under:
  • Q:

    How do you write a letter of invitation for lunch?

    A:

    When writing a letter of invitation for lunch, it should be kept simple and include all of the necessary information. The writer should use a tone that matches the occasion. For example, business lunches should use professional language, fonts and stationery, while a casual get together among friends may require nothing more than an email.

    Full Answer >
    Filed Under:
  • Q:

    How do you write a letter requesting an internship?

    A:

    A cover letter requesting an internship at an organization should do more than just make the request. It should also demonstrate how the applicant will fit into the organization and what qualities and skills he or she can offer. It should also explain why the applicant wants the internship.

    Full Answer >

Explore