Template

Letters of Explanation Kit

Lenders ask for a written explanation of late payments in the last 12 months, collections, liens, gaps in income or a bad year. A good letter is short, factual and shows what has changed. This kit gives you templates and examples for the situations lenders ask about most. It is credit education, not a credit repair service.

What’s included

• Six one-page Word letters: late payments; collection, charge-off, bankruptcy or foreclosure; tax matters; revenue decline; employment or business gaps; judgments, liens and lawsuits
• A completed example of each letter
• Examples of strong and weak explanations
• How to get your credit reports and IRS transcripts first
• The SBA eligibility limits a letter cannot fix

Every AceTheSBA product comes with

• Step-by-step instructions for every section
• A completed example for a fictional business
• References to the SBA rule each part applies
• Editable Word, Excel or PowerPoint files
• A version showing the SBA rules it follows (SOP 50 10 8.1)
• Documents for your lender kept free of AceTheSBA branding