A business loan application proposal is proposed by a borrower to the lender for obtaining a business loan. It provides details such as loan amount, repayment terms, reason for taking a loan etc. This business loan application proposal is submitted to the lender by providing all the essential information about the business plan and attaching important documents in support of the same.
Sample Business Loan Application Proposal
Details of Lender: Edmund Chapman Corporation Ltd, clerk street, Richmond, UK.
Details of Borrower: Perry & ray firm, North Downs way, UK.
Proposal Date: 4st May 2013
To tell you briefly about our company, we are small scale firm engaged in manufacture of mechanical spare parts for sports cars and regular cars as well. We are in this field since ten years and progressed from a £250 million turnover company to more than £1000 million Turnover Company in these ten years. This stint of our company has been earned by hard work and providing quality spare parts consistently to our customers.
We now wish to undertake expansion of our business which needs a business loan to the tune of £300000. We have developed a business plan after analyzing our areas of strength and weakness.
We focus on manufacturing spares that are infrequently available in the market by using high ground technologies. This will increase our reach in the market and make us exhibit our potential.
We would request a credit of £300000, with a fixed monthly interest repayment. We would also like to pledge our collateral business property worth £100000 for the loan being obtained.
We have successfully shown profitability in last 6 years and we have strategies for improving our business further. The strategy details are enclosed with the proposal.
Further details shall be provided on request.