Model letter - Bank

The Counties Bank

60 City Road

Salford M5 4WT

2 February2016

Richard Grey

Grey Transport Ltd

350 Dock Street

Salford M6 3WT

Dear Mr Grey,

Further to our meeting on 28 January, I am sorry to inform you that we will not be able to offer you a bridging loan at the present time.

Our decision to turn down your request was influenced by the current economic recession, which has affected our policy on loans to all sectors of industry and commerce. Fuerthermore, our directors now insist that all loans shoud be covered by negotiable securities, such as shares or bonds.

You may, however, be able to raise the capital you need from other sources, such as finance houses. Nevertheless, I should warn you that such sources will probably charge a higher rate of interest than that levied by us.

Once again, I am sorry not to have better news for you, but hope that we may be of more help in the future.

Your sincerely,

John Steele

Manager