Sample Letter Of Reconsideration For Sba Loan
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FAQ
Your reconsideration letter should have a clear structure. It should begin with a formal salutation, followed by an introduction where you respectfully request reconsideration. State your reasons in the body of the letter, supporting them with facts. Conclude by thanking the recipient for their time and consideration.
As of , SBA is no longer processing COVID-19 EIDL loan increase requests or requests for reconsideration of previously declined loan applications due to a lack of available funding.
Fortunately, there is a way to appeal a denied loan application: loan reconsideration. This process involves submitting an email to the lender explaining why the loan should be reconsidered and approved.
The SBA will provide you with the reason your application was declined. If you can refute this, you should outline why you want your application to be reconsidered in your letter. You'll also want to include any supporting documents that can strengthen your case like tax returns or revenue reports.
