Sample Bank Letter
Three weeks ago I was looking for new ways to grow my business – looking at new sites, looking at different franchise opportunities and looking at ways to assist and benefit our key employees. Sales were holding up. Profit margins were adjusting to the minimum wage increases we faced. Overall business was good. Today, all of those things we were considering are no longer the case. We have seen sales plummet. We have been mandated by the government to shorten our hours. With our customer counts cut in half and our fixed costs being what they are, we are facing steep losses and negative cashflow. We have had the unfortunate task of having to cut back many of our employees. We did this only as a last resort. We have cut hours and unfortunately, we had to temporarily lay off employees.
I like to think that our relationship is a good relationship; that we can be frank and candid with each other. Because of that relationship, we need to work with each other. The near future, unfortunately, will see many businesses going out of business – bankruptcies. We just don’t know the impact this entire situation will have. We intend to do everything in our power to stay in business, help our employees, and weather this terrible storm, but to be quite candid with you, we need you to help us stay in business. With our cashflow being negative, we need to preserve cash. We know we will need to dip into our reserves, but our reserves will only go so far. We are, therefore, requesting assistance. Please note, we recognize that you too are and will be impacted, but what we are respectfully requesting is relief from our monthly payments and possibly interest only.
Please feel free to contact me directly so that we can discuss this request.
We are looking to preserve our relationship and be able to work together for a long and prosperous future.
Thank you for your consideration in this matter.