Are you a small business owner who has recently been denied a loan by the Small Business Administration (SBA)? If so, you’re not alone. But don’t give up hope just yet. The SBA does offer a reconsideration process and we’re here to help you navigate it.
One important aspect of the SBA reconsideration process is the email you send requesting reconsideration. It can be a daunting task, but fear not, there are examples available that you can use as a guide to draft your own email. These samples can give you an idea of what to include and how to present your case in a compelling manner.
Additionally, you have the ability to edit these sample emails as needed to ensure that your unique circumstances and arguments are clearly presented. The goal is to make your case stronger and more persuasive so that the SBA will reconsider and approve your loan.
So, take a deep breath and let us guide you through the process with our SBA reconsideration email samples. With some effort and the right approach, you can convince the SBA to give your small business the funding it needs to grow and thrive.
The Best Structure for SBA Reconsideration Email Sample
If you are looking to appeal a decision made by the Small Business Administration (SBA), then it is crucial that you craft a well-structured reconsideration email to increase your chances of success. The good news is that there are several elements that you can incorporate into your email to make it stand out and grab the attention of the right people. In this article, we will delve into the best structure for an SBA reconsideration email sample, inspired by the writing style of Tim Ferris.
1. Start with a Clear and Concise Subject Line
Your subject line is the first thing that the SBA team will see when they receive your reconsideration email. It is therefore essential that you use this space to summarize the nature of your appeal in a clear and concise manner. This will help to ensure that your email gets noticed and prioritized by the relevant parties. A good example of a subject line could be “Request for Reconsideration of SBA Loan Denial.”
2. Greet the Recipient and State Your Purpose
Once you have a compelling subject line, it is time to introduce yourself and state your purpose in the first paragraph of the email. In this section, you should greet the recipient and explain that you are writing to appeal a decision that was made by the SBA. You could also thank the recipient for their time and include any relevant case numbers or file references.
3. Include a Brief Summary of Your Case
In the next section of your email, it is crucial that you provide a brief summary of your case. This should include a concise explanation of why you feel that the initial decision made by the SBA was incorrect, as well as any relevant facts or evidence supporting your position. This section should be no longer than two or three paragraphs, but it should be persuasive and to the point.
4. Provide Supporting Documentation
To strengthen your case further, it is essential that you provide any supporting documentation that you have at your disposal. This could include tax returns, financial statements, bank statements, or any other relevant documents that help to prove your case. Be sure to organize your documentation in a logical order and label each document clearly to make it easy for the recipient to follow your argument.
5. Be Clear About What You Want
Finally, it is essential to be clear about what you want to achieve with your reconsideration email. Do you want the SBA to reverse their original decision, or are you looking for a compromise solution? Whatever your goal, it is crucial that you state it clearly and concisely in your email.
Conclusion
In summary, the best structure for an SBA reconsideration email sample should include a clear and concise subject line, a polite and professional greeting, a brief summary of your case, supporting documentation, and a clear statement of what you want to achieve. By following this structure and the writing style of Tim Ferris, you will increase your chances of success when appealing a decision made by the SBA.
SBA Reconsideration Email Samples
Reconsideration Request for SBA EIDL Loan Denial
Dear SBA reconsideration team,
I am writing to request a reconsideration of my EIDL loan application denial. I understand that my credit score did not meet the minimum requirement, but I want to explain the circumstances that led to the drop in my credit score.
My credit score dropped due to medical bills and unexpected expenses in the last year. However, my business is profitable, and I have a solid repayment plan in place to pay back the loan. I hope you can reconsider my application and grant me the loan I need to keep my business afloat.
Thank you for your time and understanding.
Sincerely,
[Your Name]
Request for SBA Reconsideration due to Incorrect Financial Information
Dear SBA reconsideration team,
I am writing to request a reconsideration of my SBA EIDL loan application denial. I believe that my application was denied due to incorrect financial information that may have been reported. Unfortunately, I was not given the chance to correct any mistakes in the data.
I would like to request that my application be re-examined and given another chance. I can gladly provide updated financial information to show my eligibility for the loan. I hope that you will consider my request and help me secure the funding I need to keep my business operating.
Thank you for your attention to this matter.
Sincerely,
[Your Name]
SBA Reconsideration Request Due to Insufficient Collateral
Dear SBA reconsideration team,
I am writing to request that my SBA loan application be reconsidered. My application was denied due to insufficient collateral to secure the loan. However, I would like to explain that my business assets have recently increased in value and can be used as additional collateral.
I can provide updated information and would appreciate the opportunity to show my eligibility for the loan and my commitment to paying it back. I hope that you can reconsider my application and offer me the funding that I need to grow and strengthen my business.
Thank you for your time and consideration.
Best regards,
[Your Name]
Reconsideration Request for SBA Loan Due to COVID-19 Financial Impact
Dear SBA reconsideration team,
I am writing to request a reconsideration for my SBA loan application. The reason for my request is that my business has been greatly impacted by the COVID-19 pandemic, causing a sharp decline in revenue and profits over the past year. I have been unable to obtain other financing options to keep my business operating.
I would like to request that my application be reviewed again, and I ask for leniency considering the challenging circumstances that businesses have faced due to the pandemic. I have taken steps to pivot and adjust the business strategy to minimize the future impact on my business.
Thank you for your time and consideration.
Best regards,
[Your Name]
Request for Reconsideration of SBA Loan Application Due to Incorrect Business Classification
Dear SBA reconsideration team,
I am writing to request a reconsideration of the classification given to my business in the SBA loan application. I believe that there may have been an error in classification that caused my application to be denied.
I respectfully ask that you review my application again and consider any new information that I can provide with regards to my business classification. I understand the importance of accurate classification and will provide clarification or additional documentation if needed.
Thank you for your understanding and support.
Sincerely,
[Your Name]
SBA Reconsideration Request Due to Lack of Business Credit History
Dear SBA reconsideration team,
I am writing to request that my SBA loan application be reconsidered. My application was denied due to a lack of business credit history, but I would like to explain that my personal credit history is very strong, and I have never missed a payment or defaulted on a loan.
I hope that you can take this information into consideration when reviewing my application. I would also like to offer additional personal information that can prove my ability to repay the loan and help my business succeed.
Thank you for your time and understanding.
Sincerely,
[Your Name]
Reconsideration Request for SBA Loan Due to Incorrect Personal Information
Dear SBA reconsideration team,
I am writing to request a reconsideration of my SBA loan application denial. I believe that there may have been incorrect personal information that impacted the final decision. Unfortunately, I was not given the opportunity to correct these errors.
I respectfully request that my application is reviewed again, and I am given a chance to provide the correct personal information. I hope that you can reconsider my application and help me secure the financing that I need to grow my business.
Thank you for your time and attention to this matter.
Best regards,
[Your Name]
Tips for SBA Reconsideration Email Sample
Writing an SBA reconsideration email can be a nerve-wracking process, but it is important to stay focused and clear in your message. Here are some tips that can help you craft an effective SBA reconsideration email sample:
- Start with the basics: Make sure to include your name, business name, loan number, and contact information in your email. This will help the SBA identify your application quickly and efficiently.
- Be clear about why you are requesting reconsideration: Whether it is an error in the loan application process or a change in your business circumstances, the SBA needs to know what has changed since your initial application.
- Provide supporting documents: If you have new or additional information that will help your case for reconsideration, be sure to include it in your email. Supporting documents such as bank statements, financial reports, and tax records can all be helpful in demonstrating your business’s financial position.
- Keep it concise and organized: In your email, try to stick to the most important points and avoid unnecessary details. Use bullet points or numbered lists to break up your message and make it easier to read.
- Show that you have a plan: If your business has struggled due to unforeseen circumstances, be sure to include a plan for how you intend to get back on track. This can help demonstrate to the SBA that you are committed to your business’s success.
- Be polite and professional: Remember that the SBA is made up of people who are trying to help businesses succeed. Being polite and professional in your email can go a long way toward building a positive relationship with the SBA.
By following these tips, you can increase the chances that your SBA reconsideration email sample will be successful in getting your loan application reconsidered. Keep in mind that the SBA receives many such requests, so be patient and persistent in following up on your email. Good luck!
SBA Reconsideration Email Sample FAQs
What is an SBA Reconsideration Email Sample?
An SBA Reconsideration Email Sample is a sample email that you can use to request reconsideration from the Small Business Administration (SBA) for a loan or grant application that was previously denied.
Why did my loan or grant application get denied?
There are several reasons why your loan or grant application may have been denied, including insufficient credit history, low credit score, lack of collateral, or inaccurate or incomplete information in your application.
Can I appeal an SBA loan or grant denial?
Yes, you can appeal an SBA loan or grant denial by submitting an SBA Reconsideration email or letter within 6 months of the date of the denial letter.
What should I include in my SBA Reconsideration email?
You should include your name, contact information, application number, the reason for your initial denial, and any new or additional information that supports your application. You should also provide a clear and concise explanation of why you believe your application should be reconsidered.
How long does it take for the SBA to make a decision on my reconsideration request?
The SBA typically takes 2-4 weeks to review and make a decision on a reconsideration request.
What can I do if my SBA Reconsideration request is denied?
If your SBA Reconsideration request is denied, you can appeal the decision by submitting a written request for an administrative review or by contacting the Office of the National Ombudsman.
Can I get help with my SBA Reconsideration request?
Yes, you can get help with your SBA Reconsideration request by contacting your local SBA district office or by working with a Small Business Development Center (SBDC) or SCORE mentor.
Stay Positive and Keep Trying!
So, that’s it for the SBA reconsideration email sample. We hope that this article has been helpful to you in your journey to appeal for your SBA loan. Remember to always stay positive and keep trying. Don’t be disheartened if your reconsideration request gets denied. Instead, look for ways to improve your application. There are always options, so keep exploring and never give up! Thanks for taking the time to read, and we hope to see you again soon. Happy applying!