Looking for a personal loan? Here's a tip. When applying for a loan, you must prepare a written loan proposal. Make your best presentation in the initial loan proposal and application; you may not get a second opportunity.

Always begin your proposal with a cover letter or executive summary. Clearly and briefly explain who you are, your personal background, the nature of your personal, the amount and purpose of your loan request, your requested terms of repayment, how the funds will benefit your personal, and how you will repay the loan. Keep this cover page simple and direct.