A loan agreement letter is written by a bank or financial agency to the customer who has request of a loan, the loan could be a personal, business, corporate, home etc..The bank writes in response if the loan has is accepted or rejected. If accepted what all documents need to be submitted and how much loan can be sanctioned. If rejected, what are the reasons for rejection and if any documents submitted are illegal.
The sample loan agreement letter is for bank or financial employee who has to write to the customer on behalf of the bank he is working for. Follow the sample loan agreement format and make changes accordingly.
Loan Agreement Letter Sample
Sub: Loan Agreement Letter
After reviewing all your documents, we are happy to inform that your loan request for $10000 has been approved by the ABC bank. Very soon you will have to visit the bank to signup few documents before the loan amount is transferred to your account.
On Jan 10th we would also send in our bank executive to the address you have provided for the address verification, we request you to stay at home that day.
Further you would like to inform you that the loan interest should be paied exactly on 5th of every month without fail. You can provide bank checks in advance or directly transfer the amount online. We will also be sending an email that contains our terms and conditions that you have to follow after receiving the loan.
Here are your details:
Loan no: 389728937
Account no: 099090990
Date of issue: 12th Jan 2015
Tenure: 36 months
Monthly interest: $1000
We thank you for being our valued customer and you can also check our official site to know more about other new business loans and offers.