- Inform the individual that the loan has been approved.
- Put in the details of the loan which were agreed upon.
- Include the arrangements made.
- End on a positive tone.
[State, ZIP Code]
[State, ZIP Code]
[Subject: Normally bold, summarizes the intention of the letter] -Optional-
Dear [Recipients Name],
I am pleased to inform you that your request for a loan has been approved. Please see below the various details of the loan which you have applied for.
(put in the details of the loan which are agreed upon. this must be clear and concise, without any room for error since this could be considered as a legal and binding document.)
(put in the signatures of the parties that are involved)
[Senders Title] -Optional-
[Enclosures: number] - Optional -
cc: [Name of copy recipient] - Optional -
Letter of approval for a loan. Sample letter.
Further things to consider when writing approval letters to debtors
Approval letters are letters written to show that a person has officially agreed to something or accepted something as satisfactory. Approval letters simply mean that something (loan, mortgage, sick leave, etc.) has been approved. There are many reasons for which approval letters may be written. Some of the common ones include giving permission at work, to approve a loan or finances, and to approve or endorse a construction project, just to mention a few.
If you are a creditor, working with a government body, or an employer with staff, chances are you will be required to know how to write an approval letter. You need to be aware of the writing style and the basic rules for writing such letters. Be friendly and relaxed and convey the message in a pleasant tone. Open the letter with a confirmation of the approval giving reasons for the approval where necessary. If the recipient is required to take further actions, state so clearly. Give all the relevant information including the contact details. Include any agreements or arrangements made. End the letter with a positive tone and a note about the service or offer where appropriate.
Letters to Debtors
Letters to debtors are letters you write to people or institutions that owe you money. Mostly, these are collection letters to inform the recipients of the defaulted payments or demand letters to warn them about eventual legal actions. These letters are usually sent after unsuccessfully trying to get your payment, and it is time to take a more serious action. If you are running a business and you have clients who haven't paid for merchandise or services, your business could suffer financial uncertainty and difficulties. But then, you want to maintain goodwill and not damage the business' s reputation in the community.
When writing letters to debtors, especially those asking for payment, you need to be professional. Start with a friendly letter and if the failure to pay continues, get progressively more serious. Provide important details about the debt - state how much is owed and when the payment should be made. For subsequent letters, use a firm tone but be considerate and professional so as not to ruin the possibility of future deals with the recipient. Recount any conversations that have happened since the first letter. End with a note of anticipation to having the situation resolved.