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/ Madam,

I am writing this epistle to get some kind of help from the bank to take out a loan for setting up a small business.

Let me inform you that, recently I have taken the experience from a plaza hotel. Now I want to open my own restaurant near the mall. I got this opportunity after doing a lot of research. It would be beneficial for me to open a business near the mall because it would allure people to eat various dishes after shopping. Apart from it, I will keep some servants under my guidance who will readily supply or furnish the food to customers. Proper authenticity and equitable food will be provided to all masses so that they can enjoy the food and services as well.

Furthermore, I wanted to take 1 lakh as a loan from the bank to stand up for my business. I will give my entire amount within a month if my business is running. Otherwise, I will give the amount in installments. Although I have managed overhead expenses for furniture, I need money. In addition to it, I will have to make certain arrangements for bathrooms inside it. So the total expenditure would be approximately to open foody place is 5-7 lakh. The hefty amount I have been saved, like 5-6 lakhs. But I want 1 lakh as of now. Kindly assist me with this. If any more details would be required, kindly let me know. I will update you earlier with some evidence. I am eagerly waiting for your prompt reply.

I look forward to hearing from you.

Yours Faithfully,

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