April 30, 2014
Bank of America
123 Bank Lane
Grand Rapids, MI 49431
Attn: Commercial Loan Department
Your company name., LLC is a new company that had a very successful year in 2013. We began operation in February of 2013, as a small craft supply company that connected local people in the crafting community. We have a retail store that offers supplies and crafting classes. Our customers are excited to shop in our store and eager to learn new skills.
Last year, our annual sales amount was $78,000. This was for our first year of business. So far in 2014, we have increased sales by 30% in each comparable month. We continue to serve and educate new and experienced crafters. Our business is at a high demand, due to the increased amount of new home crafting businesses. Many people see their crafts online through sites such as Ebay and Etsy. As you can see, our business is in high demand. Due to the large customer demand, we have decided to expand. The loan we are requesting is for the expansion of our store
We plan on completing construction by fall and we anticipate strong sales for our improved store. We will be able to offer more supplies, more seats and classes to our eager customers. We have a constant demand for repeat classes and opportunities available that will allow us to capitalize in this market. The loan of $85,000 will give us the ability to lease the building next to us, join the walls, purchase equipment and new supplies. We currently can offer our entire inventory as collateral.
Please take a moment and review this request letter. If you feel that you can help our company expand, we would love to hear from you.