You want to start a small business in your area, and for the business, you require a loan of Rs. 10 lakh under the SBI Finance Scheme, with maximum repayment tenure of 60 months. Write a letter to the Manager requesting the loan.
Rohon Roy
21A,BM Banerjee Road, Belghoria , Kolkata, West Bengal 700058
Mr Asim Bose
Manager
State Bank of India
8th Floor, ‘A’ Wing, Constantia Building, 11, Loudon St, near La-Martiniere School, Kolkata,
West Bengal 700017
Re: Small business loan request for opening a new outlet of my restaurant under SBI small business loan
Dear Mr Bose,
The aim of this letter is to request a small business loan in the amount of 10 lack for the purpose of opening a new outlet of my restaurant. My restaurant, “Oviruchi”, is a successful and well-established restaurant and is registered and approved by the health department.
Oviruchi began operation in 02/10/2019 with 10 employees, and has shown consistent growth over the past 3 years. The restaurant now employs 35 individuals. One of the key reasons my restaurant is so successful as it is the only restaurant in the area of 3 KM radius that serves authentic Bengali Food.
We have an established online presence, as you can see on our website www.oviruchi.in and also we are in all social networking sites like Facebook, Instagram and Twitter. Through these methods, as well as local newspapers ads, we continue to make industry contacts and cultivate new business.
Last year, our annual sales revenue was 30 lack with a net profit of 11 lack. We have maintained a consistent cash flow over the past 3 years, and have operated with an annual net profit each year since opening.
We have seen increased demand for our food and our branch is not able to keep up with overflow of people. That’s why we really need to open a new outlet to fulfill the increased demand.
This business growth opportunity is immediate but will require more funding up front than our cash flow can currently accommodate. Although making the monthly repayments with interest over time will fit easily into our budget, we do not currently have access to a lump sum large enough to make a new outlet. This loan in the amount of 10 lack will enable us to rent a new location immediately so that we can begin to generate business for loan repayment immediately as well.
Attached, please look into our business plan, our most recent cash flow statement, and our annual profit and loss statement for your review. Based on these strong financial documents and our equally strong credit score of 880, we feel that “Oviruchi” will be a safe credit risk for your bank.
Please take a moment to review this request letter and the accompanying financial documents. If you feel that you can help our company, we would love to hear from you.
Sincerely,
Rohon Roy