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    Celpip

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    tkachenko.iryna30
    The document is an email requesting to change the monthly payment amount on a business loan from $500 to $1000. It provides details of the original $100,000 loan from 2010 which was used to open a custom shoe shop for the elderly. The business has become very profitable online over the last 4 years with gross profits increasing over 250%. As a result, the request is to increase the monthly payment to $1000 which it is calculated the business can pay off the entire loan by 2025.

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    Celpip

    Uploaded by

    tkachenko.iryna30
    8 views1 page
    The document is an email requesting to change the monthly payment amount on a business loan from $500 to $1000. It provides details of the original $100,000 loan from 2010 which was used to open a custom shoe shop for the elderly. The business has become very profitable online over the last 4 years with gross profits increasing over 250%. As a result, the request is to increase the monthly payment to $1000 which it is calculated the business can pay off the entire loan by 2025.

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    celpip

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    The document is an email requesting to change the monthly payment amount on a business loan from $500 to $1000. It provides details of the original $100,000 loan from 2010 which was used to open a custom shoe shop for the elderly. The business has become very profitable online over the last 4 years with gross profits increasing over 250%. As a result, the request is to increase the monthly payment to $1000 which it is calculated the business can pay off the entire loan by 2025.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    8 views1 page

    Celpip

    Uploaded by

    tkachenko.iryna30
    The document is an email requesting to change the monthly payment amount on a business loan from $500 to $1000. It provides details of the original $100,000 loan from 2010 which was used to open a custom shoe shop for the elderly. The business has become very profitable online over the last 4 years with gross profits increasing over 250%. As a result, the request is to increase the monthly payment to $1000 which it is calculated the business can pay off the entire loan by 2025.

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    Write an email of about 150–200 words to the bank and explain the change in

    your finances. Make a request to change the amount of money you pay back each
    month. Your email should include the following things:

     the amount of money you borrowed and the current repayment schedule
     why you borrowed the money
     how your income has changed and why it has changed
     how you would like to change the amount of money you pay each month

    To whom it may concern,


    During the fall of 2010, I successfully applied for a small business loan from the Greater National Bank.
    With the $100,000 I received, I was able to open a shop that creates custom shoes for the elderly. As part
    of the condition of the loan, my monthly payments were to be in instalments of $500.
    Due to the ever changing global economy, my small shoe shop has become quite the popular online
    shopping experience. The yearly gross profits have increased by over %250 over the last 4 years. Now that
    the business has become highly profitable, I wish to increase the payment size of my business loan. I feel
    that a monthly payment of $1,000 is now financially feasible and responsible for the longevity of the
    business. I have calculated that if the profit margins continue at this pace, the business will be able to pay
    off the entirety of the loan by 2025.
    Please contact me at your earliest convenience so that we may adjust the details of the loan. I look forward
    to our continued business and appreciate all the help that your bank has provided. Thank you for your time.
    Sincerely,

    Cherise Conway
    CEO, Grandma's Shoes

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