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Financial Letter

In: Business and Management

Submitted By adam22
Words 314
Pages 2
Dear Mrs. Huggins As a customer for the past five years at Wells Fargo, I would like some financial assistance in a loan. With your help I would like to open a restaurant and I believe this will be a great business venture for the bank and me. I currently have3 years of Experience in the Restaurant Industry and will graduate with a finance degree. I am currently a manager at my own restaurant and with the experience I have within the industry it will become a very profitable and successful business venture. I understand this is a risky investment, but I have owned a successful restaurant in the past and I recently turned the reins over to my brother; with this I am hoping to expand.
The restaurant is going to be based in the Portland Area. I have already acquired a building for $2,000 a month. I have talked to the City of Portland and have received the proper instruction regarding permits, plans, and the like. I am progressing to hire a cook and a server, in order for my business plan to take shape.
In order for me to embark on this business venture, I am requesting a 3 year loan of $200,000. Along with this I can make a down payment of $20,000 in cash, and have reserves in the bank. I would like to offer as collateral my Toyota Camry as well as my CD. I recently had my Camry appraised and the value of it was $11,000 with a trade in value of $9,000. . I have attached financial statements to this letter to show you my expected gain the first year of operating.
Thank you for your time and consideration in getting this business venture started, and I am looking forward to potentially working with you, and Wells Fargo Bank.
Sincerely,

Adam…...

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