Letter to the Bank requesting for the term loan.
National Packing Materials Co.
112, Wazirpur Industrial Area
Ph. 22711916, 917, 918, 22443278
November 8, 20…
Ref. No. NPM/11/840
State Bank of India
20, Gullar Road, Wazirpur, Delhi-110052
Subject: Request for a Term Loan of Rs. 10 lakhs —C.A. 4423.
We have a current account (no. 4423) in your bank since February 1990. During the entire period, we operated the account we have not defaulted on any account. The records of your bank will testify to it. Presently we have two cardboard packaging manufacture units at Wazirpur. We have a plan to set up a third unit at Narela Industrial Area where we have a 2000 sq. meter plot. Needless to say that we need some additional capital to see our plans through. Hence, we request you for a loan of Rs. Ten lakhs (Rs. 10,00,000) only for a ‘period of 4 years on normal terms. The unit will manufacture thermocol packings. It has a very good market and demand. There will be no problem in repaying the entire loan in 4 years. Moreover, we are prepared to offer our industrial plot or part of it as security. The plot is worth Rs. 40 lakhs according to the going market rate. In addition, we can offer a personal guarantee from a reputed person known to your bank. I am herewith enclosing the complete loan application, necessary documents, and brief project report of our proposed unit.
We shall discuss procedural details of the loan at the earliest date convenient to you.