Financial Hardship Letter

From

G.K Metal and Steel Factory

99, Industrial town, Northern London

UK

Phone no-9663214587

Account Number: 36612589784

To

Jimmy Adams

General Manger

The National Bank of London

Zonal Branch, 44 Zurich Street

Central London, UK

Sub- Financial hardship letter

Respected Jimmy

I being the managing director of the company is requesting you to carefully observe our latest financial liabilities and work out a feasible option for the existing loan restricting. You are also requested to give us some extra working capital so that our company keeps on running during these times of financial hardship. We are unable to pay our existing loans EMI because of the ongoing cyclical recession process in the steel industry. Everything was fine until the end of the financial year 2011 to 2012.Trouble started in April 2012 when suddenly there was sharp decline in the prices of the steel and the demand almost became negative from the various steel consuming industries. As a result our bottom-line have been hurt very badly and our earning s have nearly halved than previous years on the account of fall of steel prices and increased our inventories because of the fall in demand both in the domestic as well the international markets.

I am requesting you to kindly accept our proposal of loan refinancing in order to tide over these tough times smoothly.

Yours sincerely

Daniel Brown

Managing director

G.K Metal and Steel Factory

16TH June 2012

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