When writing a letter to apply for a personal loan, the applicant needs to list the purpose of the loan, when the loan will be paid back and a few personal details, according to eAge Tutor. The letter should be written in a professional matter.
Lenders want to know that the loan is being used for legitimate purposes, which is why the applicant needs to list what the loan is specifically for, says eAge Tutor. Lenders also want to know the exact date of when the loan and any accrued interest will be paid back in full. For personal details, applicants need to list their current employment situation, past loans and financial history, according to eAge Tutor.