SAMPLE FORMAT FOR INFORMATION & DEFERMENT REQUEST TO BANKS/NBF’S OF THE BUSINESS LOSS LEAD TO CASH CRUNCH/NON-PAYMENT OF EMI’S OF THE AVAILED LOAN

SAMPLE FORMAT FOR INFORMATION & DEFERMENT REQUEST TO BANKS/NBF’S OF THE BUSINESS LOSS LEAD TO CASH CRUNCH/NON-PAYMENT OF EMI’S OF THE AVAILED LOAN

Financial Institution Name

Address

My name is _________ and my Business Loan Acc. no. is _______. I am writing to request a one-time deferment of my loan for the next 6 months due to my business loss.

For the last _________months, I have paid Rs.________ of my loan EMI each month. I have always made an effort to pay my installments on time and in full. This month i.e. _________, I am not able to pay my EMI on due date because I have met with the unexpected hardship of business loss. I have been running (Nature of Business) in ___________ City from last ______ years, but due to (mention here the  issue by which the business loss occur), which in turn lead to losses in business. In lieu, I have to shut down my business and which had lowered the cash flow drastically, I have hardly been able to afford the most basic necessities.

I am making every effort to get back on my feet but it will take time to bring things back on line. I am planning to liquidate my personal & business assets (movable & Immovable) to pay back the pending Loan amount as one time settlement. If I can defer my loan for next 6 months, it will allow me to get time to liquidate these assets and return the pending loan amount after 6 months.

I am hopeful that you will consider my request. I expect to hear from you at your earliest convenience.

 Regards

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