The Loan Request Letter is a crucial document in Nigerian banking and financial transactions, serving as the formal initiation of a loan application process. This document is used when an individual or business seeks to obtain funding from a financial institution and must be drafted in accordance with Nigerian banking regulations, including the BOFIA 2020 and Central Bank of Nigeria guidelines. The letter should contain comprehensive information about the applicant's financial position, loan amount requested, purpose of the loan, proposed repayment terms, and any collateral being offered. It's essential for establishing the preliminary terms of the loan request and demonstrating the applicant's credibility and ability to repay. The document often serves as a reference point throughout the loan approval process and may be required for regulatory compliance and audit purposes.

1. Sender's Details: Full name, address, and contact information of the loan requestor

2. Date: Current date of the letter

3. Recipient's Details: Name, title, and address of the bank/financial institution and specific contact person if known

4. Subject Line: Clear indication that this is a loan request with any relevant reference numbers

5. Salutation: Formal greeting to the appropriate bank officer

6. Purpose Statement: Clear statement of the loan request purpose and amount

7. Loan Details: Specific amount requested, preferred repayment terms, and proposed interest rate if applicable

8. Business/Individual Profile: Brief introduction of yourself or your business, including relevant history and current status

9. Financial Position: Current financial status, including income, existing debts, and assets

10. Repayment Plan: Detailed explanation of how and when you plan to repay the loan

11. Closing Statement: Professional closing with request for next steps

12. Signature Block: Your name, title (if applicable), and signature