A Letter to Decline Loan Approval due to Bad Credit History

Dear Sir, 

Despite the fact that not every person has the best knowledge, undoubtedly, this simply isn’t a reason. Bad credit history is basically a sign that a borrower, or their business, doesn’t organize reimbursing their obligations. This leads to generating more and more non-performing assets for the bank and also deteriorates your won credit.

We would request you to please give us time and also submit proper documents for our benefit of checking your past records with loans so that we can extend any helping hand for you and your business.

We would request you to visit the nearest branch for any suggestions that might help you in getting any loan or managing your account.

“It’s critical to have a strong handle of both your own and business credit before winding up needing a loan,” said Andrea Gellert, Senior Vice President of Marketing for On Deck Capital. “Most banks ordinarily won’t loan to an entrepreneur whose individual financial assessment isn’t over a specific limit (normally around 680).” 

regards

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