When individuals and companies need cash on urgent basis and they can’t find it anywhere else, they apply for a loan to the bank of their choice. In order to start this process, they need to send a formal request letter to the bank asking them for the loan but before that, if a person doesn’t know much about a loan process or other elements i.e. installments and interest rates, the first request letter is written to the bank asking to provide information and details about different loan plans for individuals or companies.
Brief Description of Request Letter for Bank Loan Information:
It is not very often with people but there are times when individuals and companies need cash for personal reasons or business requirements and they can’t find any person or company to get the money so they write an application letter to the bank that they usually conduct their businesses with and ask them for the loan. If the individual or the company has got a loan before, they understand the process very well so they just apply for the loan but for a person who is applying for first time, it is important for him to first understand the process and then decide if they wants the loan or not. This is where the application letter for bank loan information comes handy.
You can write this letter to the bank and ask them to provide you the details and information of different loan plans they offer to the customers so that you can decide which plan suits you the best and if you agree with the terms or want to negotiate the conditions with bank management or loan officer. Once you have sent the letter to the bank, they will consider your application and enlist a number of loan plans that suit your requirements and needs and will send you the details. Then you can decide which loan plan has lower interest rate and better installment options according to your situation. After that, it’s time to send the formal application for issuance of the loan plan that you chose before.
Sample Request Letter for Bank Loan Information:
To: senior manager
National West Canal bank, main branch
New York NY 35094
Subject: loan information
Date: 14 February 2015
I am a customer of your bank for more than 3 years and I am running 4 different accounts in your bank with good cash flow. With the accounts information provided with the letter, you can see that I always keep good amount of cash in my accounts so I can be considered as a non-liable applicant for this loan application.
Hereby, I request the loan officer to send me details and information of different loan plans under $50,000 that your bank offers to small companies with less than 8% interest rates. As soon you send me the details, I will decide which loan plan is better suitable for me and I will contact you after that for starting the loan issuance process.
Raymond K. Thomas
Account number: 09-23231-1567421-1634-13-1