(INSERT LETTERHEAD)

ADDRESSEE NAME
ADDRESSEE TITLE
ADDRESSEE COMPANY

DATE

SENDER NAME
SENDER TITLE
SENDER COMPANY

Dear Mr./Mrs. ____________________,

I am writing to you in regards of our past due loans from your good office. We have received
your demand to pay the sum of ____________________.

Unfortunately, our company was not spared from the negative effects of the pandemic, and we
suffered from a slow down of our business. This resulted in our inability to conduct our business
at an optimal level.

If we are to further reduce our working capital, our Company may have no choice but to go
under.

Thus, we are constrained to ask for a grace period to pay our loans. During this grace period, we
would utilize our meager capital to give us an opportunity to raise our sales and be able to pay
off our existing loans with you.

We pray that you understand our current predicament.

Kind Regards,

__________________________