To:
The Loan Officer
PUC Branch,
Mizoram Rural Bank,
College Veng, Aizawl
Dear Loan Officer,
I hope this letter finds you well. I am writing to formally apply for a loan of Rs. 50,000 to
finance the purchase of musical instruments and equipment for my online teaching and home
recording studio.
As a professional musician and teacher with over 15 years of experience, I am passionate
about creating high-quality educational content and recordings from the comfort of my home.
With the growing demand for online music education and remote collaboration, having the
right instruments and studio equipment is crucial to maintaining and expanding my business.
I have already discussed this matter with the Bank Manager, who has been very supportive
and willing to assist me with this loan. The loan amount I am requesting will cover the costs
of purchasing essential musical instruments such as electric guitars, microphones, cameras,
video recording equipment, lighting treatments, and other necessary tools to achieve
professional-grade sound and video quality in my recordings and online classes.
Here are the details of the loan request:
Loan amount: Rs. 50,000
Annual interest rate: 7% to 12.5% (depending on bank policies)
Approximate monthly repayment: Rs. 2,000
I am confident that I will be able to meet the monthly repayment amount of Rs. 2,000, even at
the highest interest rate of 12.5%. However, I kindly request that you consider granting me
the loan at the lowest possible interest rate.
With one student paying Rs. 2,000 per month, if I receive this loan and make the necessary
updates, I anticipate doubling my monthly income within two months. This would increase
my earnings to approximately Rs. 15,000 to Rs. 25,000 INR.
Achieving this new level of success will also enable me to create content for YouTube,
Instagram, and Facebook, which will not only support my career but also inspire others. I
humbly ask for your support in this endeavor, as I have a strong potential to generate
significant income, especially as I plan to reach a broader audience beyond Mizoram. I am
also fluent in English, which allows me to teach and create content for a global audience.
However, teaching is just one of the many plans I intend to pursue.
If necessary, I am willing to offer collateral, including my motorcycle (registered at the
Mizoram Transport Department) and all of my musical instruments, which together are worth
more than Rs. 1,00,000. Additionally, I own an empty flat available for rental; if I focus on
online teaching, I could use this flat to generate rental income in case of any unforeseen
circumstances. Please feel free to verify any of my claims if necessary.
I am truly grateful for the opportunity to potentially increase my monthly income by more
than 100% with this loan, and I am confident that I will achieve this goal. Please feel free to
contact me at 9774495699 or
[email protected] if you need any additional information
or verification regarding my past music teaching experiences or any other details. I am also
more than happy to meet you in person at your convenience.
Thank you for considering my loan application. I look forward to your positive response.
Sincerely,
Andrew
