Question

in need of some assistance with putting together a short bank loan application

Bank Loan Application: Will require the student to develop a business concept and prepare the financial statements (income statement and balance sheet) to support the application. The following steps: Item-business proposal written description of business, proposal for use of funds Item-recap of management team written description of position and backgrounds Item-financial statements -statements in defined format including disclosures noted above

Answer 1

Subject: Request for Loan. Dear Sir, I am a current account holder of your bank for the past 20 years and have always maintained high deposits with your bank. A you know we are currently engaged in smartphone spare parts manufacturing. Now I am planning to take a loan for expansion of my business to new segments wherein I will be investing this amount in acquisition of required machinery from China. As you are aware, there is no change in the management structure of our business, it is being run by the same team. In view of the above, I would request that a loan of $1,00,000 may kindly be granted to me for a period of 10 years. I have attached all forms and documents as required by the bank for the same which includes my financial statements including Profit and loss account and Balance sheet for the past 3 years. I would be grateful if the same can be processed at the earliest. Thanking you in anticipation. With Regards Yours truly,