P. O. BOX 307, ARUSHA. Mobile: 0753347090. Date: 10 - 05 – 2011.
THE BRANCH MANAGER.
NATIONAL BANK OF COMERCE (NBC),
P. O.BOX 112,
REF: APPLICATION FOR LOAN FACILITY OF TSHS. 100,000,000
(ONE HUNDRED MILLIONS TZS ONLY)
Kindly refer the heading above.
I hereby present my application for loan facility of one hundred million Tanzania shillings (TSHS. 100, 000, 000) of which tenor is projected to be two years following approval.
I am dealing with hotel services or operations under the business name of SARAFINA HOTEL since January 2008 but officially registered under business name cap 212 on March, 2008.
Due to increase in number of tourists, I have decided to expand the hotel for satisfying the larger number of customers. Hence I have to raise the extra working capital in order to expand the size of the hotel.
On implementing my plan; I request your bank a loan of TSHS. 100, 000, 000/= of which repay ability is projected to twenty four months following approval.
If my application will be successively considered; I will pledge my legal owned Sarafina Hotel serve as collateral security against this application.
Precisely consider my request,
1. BUSINESS PROFILE.
Sarafina is a Hotel established in January 2008 mainly specialized in provision of hotel services. It deals with the provisions of food stuffs and shelter for tourists both from inside and outside the country. It also provides tour guide service to the tourists using the hotel vehicles as a means of transport to the National Parks like Ngorongoro, Manyara and Serengeti.
The business is owned by Miss SARAFINA, it is the private business and not public one that is why it does not issue shares, the whole of the capital of the business comes from the owner’s pockets. Therefore she enjoys the profit and bear losses from the business operation. The business also owns land and building with a current revalued amount of TSHS. 200,000,000; furniture of about TSHS. 50,000,000 and 4 vehicles which values TSHS. 170,000,000 each.
3.0BUSINESS MISSION, VISION AND OBJECTIVES
To be among the leading tourism hotels in Tanzania.
Being the leading hotel service provider in Tanzania through provision of unique quality services with good security, employment of professional staff, and conducive environment for tourists and employees to enjoy.
-The owner of the business aims at expanding services by opening new branches in various National Parks. -To increase customers royalty through quality service and security.
4.0TECHNICAL ASPECTS OF THE BUSINESS.
The business permanent office is located at KIJENGE Street, Uhuru road in Arusha City.
-The historical financial performance for the past two years shows the tremendous economic performance as illustrated bellow;
|DETAILS |YEAR 2009 |YEAR 2010 | | |TSHS |TSHS | |Annual Revenue |1,220, 000, 000 |1, 800, 000, 000 | |Gross Profit |660, 000, 000 |1, 040, 000, 000 | |Net Profit...