Letter of Commitment Example – Commercial Loan Letter of Commitment Example

| June 14, 2012 | 0 Comments

This letter of commitment example is modelled on those used by loan companies or banks. A commitment letter is a legally binding document that is issued by the lender to the applicant. The body of the letter contains confirmation of the loan approval and details of the loan. Once the applicant has read the letter and understands and agrees to the terms, they sign the letter and return it to the Loan Company or bank. There is much contained in a letter of commitment that must be studied closely by the applicant. If you have received a letter of commitment, or have applied for a loan and will receive one in the near future; prepare yourself in advance by consulting our letter of commitment example.

How to Use This Letter of Commitment Example

This letter of commitment example is designed so that you can download it to your personal computer and compare it with any commitment letters you may receive. If you are a lender, you can edit the letter of commitment example to contain the particular details of the loan you are extending and the parties involved. Letters of commitment have a particular structure unique to themselves, so it is a good idea to read through the example to familiarize yourself with the contents and format.

If you find that this example meets your needs you can Download This Letter of Commitment Example and use it for your personal requirements.


Mr. Michael Sharkey
Lucrative Loan Company
1444 McDougal St.
Detroit MI
00213
Tel: 414-567-9987

September 14, 2001

Mr. Malcolm Poole
67 Ford Rd.
Dearborn, MI
00421

RE Loan Application #0043526MP

Dear Mr. Poole,

This letter is to inform you that your application for a personal loan in the amount of $10,000 has been approved in principal. Once you have signed and returned this letter, the principal will be deposited into your account #000111999 within 5 business days of its receipt. Your first payment of $308 is due 30 days after the principal has been disbursed.

The term of the loan is 5 years, at a fixed rate of 7.2% for the duration of the loan. Please sign and date this letter and return it to Lucrative Loan Company within 21 days accompanied by the following documents:

  • Original copies of pay slips for the last 3 months.
  • Copies of bank and credit card statement for the past 3 months.
  • Copy of a utility bill to confirm your address.
  • Copy of passport or other valid identification (drivers licence, or government issued photo ID). 

Failure to return this letter and accompanying documents before the allocated 21 days will result in the withdrawal of your loan approval. Subject to your documentation being in order, your principle will be issued within the aforementioned 5 business day period. 

Thank you for your interest in a loan with Lucrative Loan Company. If you have any questions or concerns, please contact me at 414-567-9987 ext. 445.

Sincerely,

Mr. Michael Sharkey
Loan Officer
Lucrative Loan Company

Whether you’re a lender or loan applicant, you can Download This Letter of Commitment Example and use it to meet your personal requirements.

Tips and Useful Sentences you Can Use with our Query Letter Examples:

  • Read the terms and conditions carefully, and make yourself aware of the penalties for missing any payments on any loan you may take out.
  • Remember, once you’ve signed such a document it becomes a letter of commitment.
  • Example is for comparison purposes only.

Category: Letters of Commitment Examples

About the Author ()

Melanie Walters is a writer and editor for several businesses both online and offline. Her experience with writing business letters and marketing materials has helped her understand exactly what works in written communication for businesses. In the 10 years she's been writing, Melanie has amassed a large collection of letter examples that she gladly shares with you here on Letter Example Help.org

Leave a Reply