Loan Proposal for House Rent
Introduction
This loan proposal is submitted to request financial support to cover monthly rental payments for the borrower's current residence. The loan is intended to help manage housing expenses, ensuring that rent payments are made on time and in full, thus maintaining a stable living environment. The borrower seeks a loan that will cover 12 months, allowing sufficient time for repayment while meeting monthly rent obligations.
Loan Purpose and Amount Requested
The borrower requests a loan for $12,000 to cover rental payments for the next 12 months. The breakdown is as follows:
Monthly Rent Payment: $1,000
Total Loan Amount Requested: $12,000 (for 12 months)
This loan will be used exclusively for rent payments and will ensure that the borrower can meet their housing needs without any interruptions.
Borrower’s Information
Name: Franz Davis
Address: 123 Maple Street, Apt. 4B, Springfield, IL 62704
Phone Number: 222 555 7777
Email Address: franz@you.mail
Employer: Springfield Tech Solutions
Income: $3,500 (Monthly Gross Income)
Loan Repayment Plan
The borrower will repay the loan in equal monthly installments of $1,000 over 12 months. The total amount to be repaid is $12,600, which includes the principal and 5% annual interest.
Security or Collateral
This loan is unsecured. However, the borrower has a stable and consistent income from full-time employment with Springfield Tech Solutions. The borrower also commits to prioritizing the repayment of the loan to avoid any disruption in housing.
Loan Terms and Conditions
Loan Term: 12 months.
Repayment Frequency: Monthly.
First Payment Due: January 1, 2025.
Late Payment Fees: A fee of $50 will be charged for any payments made after the due date.
Early Repayment Option: The borrower may repay the loan in full or in part before the due date without incurring any penalties.
Conclusion
This loan proposal requests the amount of $12,000 to cover the borrower’s rent payments over the next 12 months. The borrower is financially stable and committed to repaying the loan on time. The repayment plan has been structured to ensure manageable payments, with the final amount to be repaid totaling $12,600 (including interest).
The borrower’s income level and employment status provide the necessary assurance that the loan will be repaid according to the terms outlined.
Prepared by:
[Your Name]
[Your Company Name]
Email: [Your Email]
Phone: [Your Company Number]
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