Are you a small business owner who recently received a rejected SBA loan application? Don’t lose hope just yet. There’s still a chance for you to get your application approved through the SBA reconsideration process. But what exactly do you need to do?
Luckily, there are numerous resources available online, including SBA reconsideration email samples, that can help you through the process. These samples are great examples of successful reconsideration requests that have led to approved loan applications.
By utilizing these samples, you can gain insight into the tone and language that the SBA responds positively to. Additionally, you can easily customize and personalize these templates to fit your specific situation and business needs.
Don’t let a rejected loan application discourage you from pursuing your small business dreams. With the help of SBA reconsideration email samples, you can increase your chances of success and get one step closer to achieving your goals.
The Best Structure for an SBA Reconsideration Email Sample
If you’ve received a notice of decline or rejection from the Small Business Administration (SBA), don’t despair. You have the option to request reconsideration of your application. The key to success is crafting a compelling email that follows a specific structure. In this guide, we’ll outline the best structure for an SBA reconsideration email sample using the Tim Ferriss writing style.
Subject Line
Your subject line should be clear and concise, letting the SBA know that you’re requesting reconsideration. Avoid using words like “urgent” or “important” as they may come across as desperate. Instead, use a straightforward subject line such as “Request for Reconsideration – [Your Business Name].”
Opening Paragraph
In the opening paragraph, you need to introduce yourself and explain why you’re writing. Keep it brief and to the point. Say something like “My name is [Your Name], and I’m writing to request reconsideration of my SBA loan application dated [Date]. I received a notice of decline on [Date], and I believe there may have been a misunderstanding. I’m hoping to clarify the situation and provide additional information.”
Body Paragraphs
The body of your email should be where you make your case. Address the reason for your decline and provide supplementary information to support your application. If you were declined due to poor credit, explain any extenuating circumstances that may have contributed to your low credit score. If your business plan was deemed unfeasible, provide more in-depth research or revised projections. Use clear and concise language, and try to avoid jargon or overly technical terms. When possible, provide examples or evidence to support your points.
Closing Paragraph
In the closing paragraph, you need to wrap up your email and reiterate your request for reconsideration. Thank the SBA for their time and consideration, and remind them of your willingness to work with them to address any concerns or questions they may have. Close with something like “Thank you for your time and consideration. I appreciate your attention to my application and am available to provide any additional information.”
Signature
End your email with a professional signature. Include your name, position, and contact information (phone number and email). Make sure all information is up to date and correct.
By following this structure, you’ll be able to craft a persuasive and professional email that increases your chances of SBA loan approval. Keep in mind that this is just a guideline – feel free to make it your own and add your own voice and personality. Good luck!
SBA Reconsideration Email Samples
Reconsideration Request for SBA Loan Denial
Dear SBA Loan Officer,
I am writing to request reconsideration of my loan application, which was unfortunately denied on the basis of insufficient credit history. I understand the importance of a good credit score for loan approval, but I want to explain that my credit history has been impacted by unforeseen circumstances outside of my control.
Firstly, I experienced a medical emergency that resulted in significant medical bills and loss of income. Secondly, I was a victim of identity theft, which resulted in fraudulent activity on my credit report. I have since taken steps to resolve the issues and improve my credit score.
I am confident that I can repay the loan as agreed and respectfully request that you reconsider my application. Thank you for your time and consideration.
Sincerely,
[Your Name]
Reconsideration Request for SBA Disaster Loan
Dear SBA Disaster Loan Officer,
I am writing to request reconsideration of my disaster loan application, specifically related to the property damage assessment. Having reviewed the determination, I strongly disagree with the total amount calculated for property damage.
I have provided additional documentation and estimates from reputable contractors to support my appeal. Additionally, several neighbors in the vicinity of the property have also experienced damage from the same natural disaster and have received higher payouts from insurance companies.
I respectfully request that you reconsider the property damage assessment and adjust the loan accordingly. Thank you for your time and attention to this matter.
Sincerely,
[Your Name]
Reconsideration Request for SBA Economic Injury Disaster Loan
Dear SBA Economic Injury Disaster Loan Officer,
I am writing to request reconsideration of my economic injury disaster loan application, which was unfortunately denied due to insufficient financial documentation. I understand the importance of accurate financial documentation, but I want to explain that the pandemic has created unique challenges for my business.
As a small business owner, I was forced to shift operations from in-person to virtual, which resulted in significant revenue loss. As a result, my financial statements do not reflect the true financial position of my business.
I have since prepared updated financial documentation that accurately reflects my current financial situation and respectfully request that you reconsider my application. Thank you for your time and consideration.
Sincerely,
[Your Name]
Reconsideration Request for SBA Paycheck Protection Program Loan
Dear SBA Paycheck Protection Program Loan Officer,
I am writing to request reconsideration of my PPP loan application, which was unfortunately denied due to insufficient documentation for eligible payroll costs. I understand the importance of accurate documentation, but I want to explain that my business was impacted by unforeseen circumstances outside of my control.
Specifically, I was forced to lay off several employees due to a sudden decrease in demand for my product/services. As a result, my payroll costs did not meet the threshold for forgiveness.
I have since rehired employees and prepared updated documentation that meets the forgiveness requirements and respectfully request that you reconsider my application. Thank you for your time and attention to this matter.
Sincerely,
[Your Name]
Reconsideration Request for SBA Minority-Owned Business Certification
Dear SBA Minority-Owned Business Certification Officer,
I am writing to request reconsideration of my application for minority-owned business certification. Although my business meets the criteria for this certification, my application was unfortunately denied due to insufficient documentation.
After reviewing the denial letter and speaking with SBA representatives, I have identified the specific documentation that is needed to support my application. I have since prepared updated documentation that meets the certification requirements.
I respectfully request that you reconsider my application and accurately assess my business for minority-owned certification. Thank you for your time and consideration.
Sincerely,
[Your Name]
Reconsideration Request for SBA Surety Bond Guarantee Program
Dear SBA Surety Bond Guarantee Program Officer,
I am writing to request reconsideration of my application for the surety bond guarantee program, which was unfortunately denied due to insufficient collateral. I understand the importance of collateral for bonding, but I want to explain that my business operates in a niche market that requires specialized equipment.
The equipment is not easily liquidated and therefore cannot be used as traditional collateral. I have provided additional information on the specialized equipment and my business operations to support my appeal. Additionally, I have identified alternative forms of collateral that I am willing to offer.
I respectfully request that you reconsider my application and provide alternative solutions for collateral. Thank you for your time and attention to this matter.
Sincerely,
[Your Name]
Reconsideration Request for SBA Women-Owned Business Certification
Dear SBA Women-Owned Business Certification Officer,
I am writing to request reconsideration of my application for women-owned business certification. Although my business meets the criteria for this certification, my application was unfortunately denied due to insufficient documentation.
After reviewing the denial letter and speaking with SBA representatives, I have identified the specific documentation that is needed to support my application. I have since prepared updated documentation that meets the certification requirements.
I respectfully request that you reconsider my application and accurately assess my business for women-owned certification. Thank you for your time and consideration.
Sincerely,
[Your Name]
Tips for Writing a Compelling SBA Reconsideration Email Sample
If your Small Business Administration (SBA) loan application has been denied, you have the opportunity to request reconsideration. Writing an effective SBA reconsideration email sample can be the difference between having your application denied and approved. Here are some tips to help you write a compelling SBA reconsideration email.
- Stick to the facts: The SBA will make their decisions based on specific facts, so avoid including anything that isn’t directly relevant to your application. Present your case clearly and concisely, making sure to highlight the facts that support your request for reconsideration.
- Show a willingness to work with the SBA: When writing your SBA reconsideration email, express your willingness to work with the SBA to resolve any issues and demonstrate your commitment to ensuring that your application meets all requirements.
- Highlight changes or improvements: If there were specific issues identified during the initial review of your application, provide details on the steps you have taken to address the issues. If you are able to demonstrate that you have made changes or improvements, this can help to strengthen your reconsideration request.
- Provide supporting documentation: Along with your SBA reconsideration email sample, make sure to provide any supporting documentation that is relevant to your application. This can include financial documents, tax returns, and other pertinent information that can help to better illustrate your financial position and capabilities.
- Be polite and professional: When writing an SBA reconsideration email, it is important to remain polite and professional. Use a formal tone and avoid emotional language that may be off-putting to the reviewer. Demonstrating your professionalism and seriousness can go a long way in helping to secure reconsideration.
By following these tips, you can create a compelling SBA reconsideration email sample that can help get your loan application back on track. Remember, the SBA wants to support small businesses, and by demonstrating your commitment and willingness to work with them, you can increase your chances of having your application approved.
FAQs about SBA Reconsideration Email Sample
What is an SBA Reconsideration Email Sample?
It is a template of an email that one can send to the Small Business Administration (SBA) to request reconsideration for a declined SBA disaster loan application.
What is the purpose of an SBA Reconsideration Email?
The purpose of an SBA Reconsideration Email is to ask the SBA to review your declined disaster loan application again and reconsider your eligibility for financial assistance.
What should be included in an SBA Reconsideration Email Sample?
An SBA Reconsideration Email should include the following:
- Your name, the application number, and the date of your application.
- The reason for your request for reconsideration.
- Your current financial situation and the impact of the disaster on your business.
- Any additional information that can support your eligibility for a disaster loan.
What are the common reasons for an SBA loan application to be declined?
The most common reasons for an SBA loan application to be declined are:
- The applicant’s credit history.
- The applicant’s ability to repay the loan.
- The applicant’s lack of collateral.
- The applicant’s noncompliance with SBA regulations.
Can I apply for an SBA disaster loan more than once?
Yes, you can apply for an SBA disaster loan more than once. However, you will need to provide updated information and indicate how the new application is different from the previous one.
How long does it take for the SBA to review an SBA Reconsideration Email?
The SBA reviews SBA Reconsideration Emails on a case-by-case basis. It may take several weeks or months for the SBA to review your email and respond to it.
What are the chances of getting approved after sending an SBA Reconsideration Email?
The chances of getting approved after sending an SBA Reconsideration Email depend on several factors, including the reason for the initial denial, the completeness of your application, the strength of your supporting documents, and the available funds.
Can I request an SBA Reconsideration after the deadline has passed?
It is unlikely that the SBA will consider a request for reconsideration after the deadline has passed. However, you may contact the SBA to inquire about any available options.
Can I appeal an SBA Reconsideration decision?
Yes, you can appeal an SBA Reconsideration decision. You will need to follow the appeal process outlined by the SBA and provide new and compelling evidence to support your appeal.
What happens if my SBA Reconsideration request is still denied?
If your SBA Reconsideration request is still denied, you may explore other financial assistance options, such as grants, loans from private lenders, or crowdfunding.
Comeback soon, partner!
Filing for an SBA reconsideration can be a real head-scratcher, but with our sample email, the process becomes a lot smoother. We hope you found this article helpful and that our example email gave you enough inspiration to draft your own convincing argument. Don’t hesitate to drop by again for more business tips, industry news, and helpful resources. Thanks for reading, partner!