Follow-Up Letter for Request for Funding

Whether you are applying for a small business loan, a grant or another funding opportunity, a timely, well-crafted follow-up letter can show initiative and give your small business a chance to reiterate its strengths. With some effort, this can greatly enhance your chances to obtain funds for your small business. However, a poorly executed follow-up correspondence can appear as pushy or desperate and hurt your chances for funding. By maintaining professionalism and emphasizing new business assets, you can write a practical follow-up letter.

1. Call the funding organization to confirm receipt of your application materials if you sent them through physical or electronic mail. Ask when the organization expects to close its application process, and determine the name and title of the person who selects funding recipients. If you submitted an application in person, avoid the phone call by obtaining this information at the time of your submittal.
2. Wait two weeks after sending your initial request before sending your follow-up letter. Your letter should be written on letterhead and include your contact information, centered in the header. Leave a blank line, then include the recipient's name and contact information, aligned left. Leave another blank line and write the date.
3. Begin the next line with a professional greeting that includes the recipient's name and title. Fore example: "Dear Ms. Denise Stevenson, Loan Director of American Banks." Punctuate this salutation with a colon, then skip another line.
4. Begin the body of the letter by thanking the recipient for considering your funding request. For example: "Thank you for the opportunity to learn more about your bank's loan division and for your time and consideration regarding my request." All paragraphs should be aligned left with one line separating each.
5. Cite your initial request. For example: "I recently submitted a small business loan for a bar and grill on Main Street." If you received a policy or case number when you submitted your initial proposal, include it for the recipient's convenience.
6. Reiterate the strengths of your initial request in a concise manner. Where appropriate, utilize bullet points to convey key points succinctly. Include any relevant developments or achievements that have occurred since your initial request. For example: "Since my initial correspondence, I have obtained even more favorable marketing data regarding a bar and grill on Main Street."
7. Conclude by inquiring about the next steps in the application process. For example: "I am very excited to hear your decision regarding this promising opportunity. When will applicants be notified about your determination?"
8. Close your letter with "Sincerely," and sign your name in ink in the lower left-hand corner, if you are using physical mail. Email correspondence is also acceptable, however, it must be just as professional.