Employee Loan Agreement Letter
Date: September 3, 2050
Floyd Cremin
Portland, OR 97201
Dear Floyd Cremin,
We are pleased to confirm that your request for an employee loan has been approved. We are offering you a loan amount of $10,000 with an annual interest rate of 5.0%, repayable over a period of 2 years. The first payment is scheduled for October 3, 2050, with monthly installments of $438.71.
This loan is provided to assist you with personal expenses and is unsecured. The repayment will be deducted directly from your monthly salary, with a total of 24 deductions beginning with the October payroll. Enclosed with this letter are the terms and conditions of the loan agreement, including details on the deduction schedule and the process for early repayment.
The first payment is scheduled for October 3, 2050. Monthly installments of $438.71 will be deducted from your salary for 24 months.
To finalize the loan, please review, sign, and return the enclosed agreement by September 10, 2050. Should you have any questions or require further assistance, please contact the HR department at [Your Email].
Thank you for your dedication to [Your Company Name]. We are happy to support you during this time.
Sincerely,
[Your Name]
Loan Officer
[Your Company Name]
[Your Email]
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