Sustaining Your Business: Notifying Creditors
Sample Letter
XYZ Company LLC
111 Robin Lane
Anytown, MI 22222
August 1, 2005
ABC Credit Corporation
5 Industrial Road
Birmingham, AL 11111
Dear Sir or Madam:
I am writing to inform you that I will soon be serving our country as a member of the U.S. Army in Operation Iraqi Freedom. I am scheduled to deploy on Sept. 15, 2005, and expect to be in Iraq for at least one year.
I plan to maintain my business operations while I am overseas. Although I am leaving my business in capable hands, times may be tough in my absence. I am requesting an interest rate reduction on my business loan under the provisions of the Servicemembers Civil Relief Act. It is my understanding that under this law, my interest rate will be capped at 6%.
If your company offers programs for small business owners who are also members of the Armed Forces, I would like to learn more about them. Thank you for your consideration.
Sincerely,
Bob Soldier
Owner and President
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