What is a solicitation letter for financial support?
A solicitation letter, also known as an appeal letter is the best way to collect funds to meet financial needs. The basic purpose of this letter is to attract different investors and funders who have the potential to pay funds for any specific purpose. Before this letter is written, it is ensured that all the elements that must be specified in the solicitation letter are known.
Solicitation letters are written for a variety of purposes. However, the basic objective behind writing every letter is the same. When you want to collect funds for someone who is in the need to get the financial support, you can write a solicitation letter to solicit funds on behalf of that person.
How to write?
Below are some steps to follow for writing an effective solicitation letter:
Talk about the subject:
You know that for what purpose you are soliciting funds. Therefore, you better know about the subject of the letter. If you are soliciting funds for support in executive a particular program, you must provide some background information of that program. This part of the letter is important especially when the person being written this letter is already familiar with the project you have initiated. Especially if the project you have initiated has a good cause behind it, you will proudly talk about it in the letter.
Tell the reason for solicitation:
Before you ask the reader for support in a straight way, describe why you are in the need of financial support. You can describe here what made you tight on your budget or about the obstacles that are hindering you from successfully executing a process. This will give an idea to the reader that you are in the need of support.
Request to lend financial support:
After you have described your problems the reasons behind those problems, now you are in a better position to ask for the money that you need to support yourself. Ask the reader to pay you the money and also specify the amount that you need.
Show that you are hopeful:
When the reader realizes that you have pinned so many hopes on him, he is more likely to lend you some financial support. So, show positivity and tell him that why you have chosen him to solicitation of financial support. In this part of the letter, you can also give a call to action.
In case you want to write the best solicitation letter and you don’t know how to draft the one, you can get help from the sample letter given below:
Subject: solicitation for financial support
Dear Mr. ABC,
We are pleased to complete a project with the support of different sponsors. Now, we are being requested to work on the same project to take it to another level. For this purpose, we are required to pay the amount for the program that we want to initiate. This includes several other types of costs such as up-gradation of the equipment cost, cost related to hiring staff, and much more. We are on a very tight budget and therefore, we were compelled to reduce our expenses to half. We have already cut down our expenses to a large extent.
This letter is being written to you because I want you to consider ABC Company for your donations again. The event our company is going to organize needs your financial support so that we can organize this event in the best possible way.
ABC Company is a well-reputed NGO in the UK and the sole purpose is to raise funds for needy people. The program we have initiated will help 100 children get their basic education free of cost. We have lots of volunteers who are ready to provide their services for this cause. However, we are in the dire need of financial support.
We look up to you as a very generous person who never turned his back on helping those in distress. We hope that you will provide us with the financial assistance with which, we would be able to meet our goals.
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