You Want to Start Your Own Small Business

You want to start your own small business. Write a letter to a bank requesting information about obtaining a business loan to finance your new company. In your letter, include the following information:

what kind of business do you want to start

how much money do you need

the length of time over which you would expect to repay the money

Dear Sir,

I am writing this letter to inquire about the possibility of a business loan from your bank to finance a start-up business I have planned to commence soon. I hope you will provide me with some information and document requirements to apply for the loan.
I have completed my graduation in fashion technology, and I have been working in this field for the past five years.

Now I am interested in starting a boutique of my own, and I need a loan to support it. I own the shop’s location, as per the estimation, a total of Rs.500000 to start the business. I can finance 50% of the total fund, and I require another Rs.250000 as a loan from your bank.

My husband would be ready to be the guarantor for the loan, and I can repay the loan amount with interest within two years. However, I need three month grace period before I start repaying the monthly installment. I would appreciate it if you could send me details of the loan, including the interest rates, monthly installment, etc.

I am looking forward to your response.

Yours faithfully,

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