There may be a time in everyone’s life when a loan is required. It may be for a new home or car, renovation or medical. It could be an urgent financial need that just cropped up out of the sudden and you are without adequate funds to handle the financial emergency.
There are many types of loan available to the borrower if he knows where to source. However, the Internet provides a good tool to direct your attention to the different types of loan for your consideration.
But it is the initiative of the individual to write up requesting a loan from a preferred loan provider. Hence, a loan proposal is drawn up and submitted to the loan provider for consideration.
A loan proposal template may contain the following sections information:
* Date of Submission
* Borrower’s Name & Address
* Borrower’s contact information
* Loan provider’s name & address
* Statement of intention
* Reason for loan request
* Personal brief
* Signature of borrower
Since a loan proposal is a formal document, it is normally written formally. It directs the attention of the loan provider to the need of the sender in requesting a loan. The necessary information is provided for the loan provider to consider the borrower’s request and hopefully approve the loan requested.
Some loan providers may response to a loan proposal by requesting an interview with the borrower or further documentation for proof and as collateral for the loan.
Consider the attached sample template for your convenience.