Bank Loan Recommendation Letter: 4 Free Template

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A bank loan recommendation letter is intended to support someone who wants to apply for a bank loan. It strengthens the legitimacy of a person’s financial situation. 💶

Generally, someone who is familiar with the recipient and is well-qualified to comment on their abilities should write the letter. It can be a former coworker or another professional or social tie. The writer should support their claims about the issue.

Below is a guide with steps involved in drafting a recommendation letter to make your writing easier.⤵️

What Should Be Included in a Recommendation Letter for a Bank Loan?🤔

Now that you are aware of what a recommendation letter is start making a list of the appropriate information to include in one. Let us understand what to put in a recommendation letter for a bank loan for effective results. ✨

  • Subject Line-Mention why you are writing this letter with a crisp subject; that is, say that you are writing a recommendation letter for a bank loan.
  • Personal details-You can start the letter with your introduction. State your full name and place of work💼with job designation.
  • Details of the applicant-Recommending your client by mentioning his full name, the nature of the profession, and their job designation. State his professional standing and provide his employer’s contact number of his employer to help the bank verify these facts.☑️
  • Description of the relationship-Mention your connection with the individual in the past as well as in the present, and the duration of your bond.🤝
  • Confirmation of the applicant’s solid financial status-You should firmly endorse the individual in the letter and convey why you think they should get the loan. Back up your claim of their good financial position with genuine information.😊
  • Signature-Before ending the letter, include your full signature at the bottom above your printed name. ✍️

How to Write a Recommendation Letter for a Bank Loan (Tips)

A good recommendation letter for a bank loan helps establish the applicant’s honesty and ethics. Therefore, the letter must be composed skillfully, considerately, and with a strong endorsement of the concerned person. Here’s how.⬇️

Know the purpose of the letter

If you are asked to write a recommendation letter, it is crucial to discuss the objectives in detail. It will not only allow you to understand their requirements but also determine whether you are the right person to write the letter (perhaps) due to a lack of access to their financial records. 

In such a scenario, you can refer someone else who would be more capable of helping them.

Be concise

List the positive aspects of their financial history that depict qualities such as stability and dependability to help them get the loan. Here, you can include real-life instances highlighting their qualifications and achievements to make the letter more convincing. 

Also, avoid filling the letter with words of compliments and keep it short and sweet. If you have an account or have applied for a loan in the same bank, mention that as well to hint at a sense of credibility. 

Verify client information

While writing, ensure that all the information you are putting in the letter is accurate to the T. After finishing the letter, review its content, like the authenticity of the job designation, the presence of any criminal records, and the stability of financial standings.

Letter Template: 1

(Date)

(Designation)

(Bank Name)

(Address of the bank)

Sub: Recommendation letter for a bank loan

Respected Sir,

This is to request you that (Person name) with (social security number) has been working with us a (designation) for the last (years). (He) has requested to your bank for the loan amount of (mention amount) and for that it needs our recommendation.

Please accept our letter. (He) is drawing a monthly salary of (amount) inclusive of all benefits. During (his) tenure with us, we found him hardworking, loyal and committed to (his) job responsibilities.

This letter has been issued at (his) request and they will not take any liabilities with the bank in the future. 

(He) are our one of the reliable employee and I am quite sure that (he) will be loyal in this case. We can recommend (his) name undoubtedly. I am sure that (he) will not tarnish our company’s reputation.

Please feel free to contact us on this number (Contact number) if you have any queries or any clarifications regarding this recommendation.

Regards,

(Name of the person)

(Designation)

(Company Name)

(Company Address)

recommendation letter for bank loan

Download Template :
(pdf, docs, ODT, RTF, txt, HTML, Epub, Etc)

Recommendation letter for a bank loan 

Letter Template: 2

(Date)

(Designation)

(Bank Name)

(Address of the bank)

Sub: Recommendation letter for a bank loan

Respected Sir,

It is my pleasure to recommend (mention name) for the loan from your renowned bank. After reading the criteria of the loan, I strongly believe that you would struggle to find a client more deserving and more in need of it than (mention name).

(Mention name) has been both admired and respected by our friend circle, (He/she) has consistently demonstrated an ability to rise to any challenge that (he/she) must face shortly. I’ve known (him/her) for a long time; I know (he/she) runs a small business.

In today’s world of competition, a businessman needs a lot of funds to keep up with others. There can be no better organization than your bank to give loans with such low-interest rates.

To conclude, I would like to restate my strong recommendation for (mention name) if you have any further questions regarding (him/her). Please do not hesitate to contact me on (Mention Contact number).

Hope to hear from you soon.

Thanking you in anticipation.

(Designation)

(Company Name)

(Company Address)

recommendation letter for bank loan

Download Template :
(pdf, docs, ODT, RTF, txt, HTML, Epub, Etc)

Recommendation Letter For Bank Loan

Letter Template: 3

 (Date)

(Designation)

(Bank Name)

(Address of the bank)

Sub: Recommendation letter for a bank loan

Respected Sir,

I (mention your name) am writing this letter to give my recommendation about (mention name). (He/she) was my previous business partner, and now we are out of the partnership, but we’re still in touch.

I heard that (he/she) is in need of financial help to build a house for his family. And as an old customer of your bank, I told him about your bank.

(She/he) is now associated with (Mention where He/she is working). (He/she) currently earns (Mention the amount) per month.

And I know (he/she) is capable of paying any loan he/she will lend. (He/she) has a sense of principle, and (he/she) does not prefer to cheat.

I am attaching (his/her) previous loan repayment information with this letter. I would be highly obliged if you, please take a look at it.

If you want to know more about (him/her), you can contact me at this number, or you can contact (him/her) directly. His/her contact number is (Mention phone number).
I look forward to your reply.

Yours sincerely,

(Write the name of the person)

(Designation)

(Company Name)

(Company Address)

recommendation letter for bank loan

Download Template :
(pdf, docs, ODT, RTF, txt, HTML, Epub, Etc)

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