One sales director is suggesting that new Mary Kay consultants use this letter to get a bank loan. Yes, she’s suggesting that the consultant actually present this nonsense to a bank loan officer. I’m afraid to say that this isn’t quite going to cut it.
To: Loan Officer
I recently became a Mary Kay Independent Consultant and I am applying for a Small Business Loan to get started. Mary Kay is the best selling brand of facial Skin Care and Color Cosmetics in the U.S. and is the largest Skin Care Company in the United States.
Mary Kay Inc., provides women with an unparalleled opportunity for financial independence as well as career and personal fulfillment. As an Independent Consultant, I will conduct weekly Skin Care Classes. These classes will generate an average of $400.00 in weekly revenues. To get off to a good start, I must have sufficient inventory. The purpose of this loan request is to purchase sufficient inventory.
Inventory Package and Use:
Career Package $3600.00
(foundations, color cosmetics assortment and fragrance items)
Office Supplies $150.00
(postcards, stamps, folders, cabinet, desk, etc.)
Business Supplies $150.00
(literature, order forms, sales tickets, display trays, vanity tray/mirrors, brushes, sponges, product samples)
Tax on Inventory $500.00
Total amount needed to start my business $4,400.00
More products are sold in a Skin Care Class when they are available to the Customer. Women prefer to take their product home as opposed to having them delivered later. Having products on hand will increase sales and related revenue. All income from this Business will be maintained in a separate bank account. Money earned from the related sales of this inventory will be earmarked to payoff this loan and reinvest into my business.
Thank you for understanding this application request.