Hope of Manitoba Essential Academy

264 Malasin Water Tank District, 3121 San Jose City, Nueva Ecija

To: The President

Producers Savings Bank Corporation

Through: Agnes Gay R. Miguel

Account Officer
Producers Savings Bank Corporation
Cabanatuan City

Dear Sir/Ma’am

It is our deepest regret to inform you that our institution has collectively been
affected by the pandemic Covid19. Schools nowadays were victim of this
circumstance that school year is being adjusted to uncertainty because of the said
pandemic and enrolment has been scarce because of parent’s fear of the virus.
Our enrolment also has been reduced (from 200 to only 58 paying students) and our
financial capability has been hampered due to the abrupt cancellation of classes in
mid-March, that collections were also stopped and collectibles were uncertain to
be paid since most of our students have transferred in public schools, also due to
economic conditions.

As your client, we are deeply indebted to your generosity for the adjustments
made during the lockdown. However, by the uncertainties of the School Year which
our institution is highly relying on its enrolment for its operational sustenance, we also
fall into uncertainties set by the Department of Education’s advisories and
memorandums.

In line with this, may we humbly request your good office to again, re
structure our loan agreement for us to catch up with this situation that has affected
not only our institution but also our clientele and manpower. May our loyalty to your
endeavors and vision be accounted in considering our requests

We look forward to your continuous support on our institution as an honest

and humble partner in making business at ease during these trying times. We also
seek your favorable consideration to our humble request. Thank you and more
power to your bank. May God bless you.

Very Truly Yours,

Rowena P. Rivera-Toralba
Corporate Finance Officer/
School Principal
Noted:
Aniceto T. Toralba-School Administrator

“NON SCHOLAE SED VITAE DISCIMUS”