04/11/2022

Buna International Bank S.C

Addis Ababa

Our company Lakeshore Hotel and Lodge ( promoter: Abraham Seyoum Tessema) is a

three-star hotel project located adjacent to Lake Tana, in the most tourist destination

city of Amhara regional capital, Bahir Dar. The project is intended to be undertaken

using both equity and debt financing sources. Accordingly, we have taken so-far Br.

35,748,945.31 (Thirty-five million seven hundred forty-eight thousand nine hundred

forty-five birr and thirty-one cents ) from Abay Bank S.C of which principal balance is
intact as of 03/11/2022. Of which balance, a part of it used for construction.

The total estimated cost of the project to be fully operational is Birr 275,512,624 (Two

hundred seventy-five million five hundred twelve thousand six hundred twenty-four
birr). Of this total amount, Birr 62,801,800 ( Sixty-two million eight hundred one

thousand eight hundred birr), (23% of total cost) is to be sourced from equity financing
whereas Birr 212,710,821 (Two hundred twelve million seven hundred ten thousand

eight hundred twenty-one birr), (77% of total cost) is to be financed from bank loan.

Herewith, our company reached in vital decision to build a banking relationship with

your prestigious bank coming with the request for a loan of Birr 212,710,821 (Two

hundred twelve million seven hundred ten thousand eight hundred twenty-one birr) the
detail of which is indicated hereunder: -
 Description Amount required
Settlement of principal loan balance @ 35,748,945.31
ABAY Bank
Building and civil work 58,730,269
Hotel Equipment and Facilities 66,912,187.69
Power Generator and Submersible 2,401,526
Pump
Boats 7,269,034
Motor Vehicles 23,678,610
Working Capital 17,970,249
Total 212710821

This is therefore to request the bank to provide us with loan as shown above with 2

years grace period of which accrued interest to be paid in lump-sum at the end of the
grace period on semi-annual repayment mode.

We advance our gratitude for your genuine cooperation.

Best regards,

Abraham Seyoum

Tel.: +1 650 422 1788

+ 251 98 547 3124
Email: aseyoum1@yahoo.com