How to Ask For a Loan From Your Boss

Share This Post

If you’re in a situation where you need money but no one is willing to lend it to you, then maybe it’s time for something new.

You might think that asking for a loan from your boss would be too awkward and embarrassing to even consider doing, but we’re here to tell you that this can work out just fine. In fact, if done properly—and with some careful strategizing—it could lead to some very beneficial outcomes for both parties involved!

Land More Interviews With A Professional Resume

Get a professional resume review from a certified career expert

How do I write a letter to my boss asking for a loan?

When you’re in need of a loan, it can be tempting to just ask your boss for the money. But whether you’re requesting a personal loan or one from a business, it might be challenging to write a letter asking for money. If there’s any chance that your request could lead to an awkward situation, then it’s best not to write anything at all.

If you must write, then the best way to do so is by including all the information your boss needs in one place. This makes it easier for him or her to make a decision about whether or not they’re willing to loan you money. If you’re going to write a letter asking for money, then it’s important that you:

  • Provide details about what you need the money for.
  • Explain why this is an urgent situation—and how much time is left before it becomes even more urgent.
  • Explain why you’re asking your boss for money and not someone else.
  • Offer some kind of incentive if he or she agrees to give it to you.
  • Make it clear that you’re committed to repaying the loan and will do so as soon as possible.
  • If possible, include a timeline with specific dates so your boss knows exactly what he or she can expect from you.

The body of the letter should look like this, for example:

“Dear Sir/Madam,

With all due respect, my name is Vanessa Willis with employee ID 23116, and I am submitting this letter on behalf of ABC Foundation as a Lead Supervisor to request a personal loan of $20,000 owing to the hospitalization of my father.

You may withdraw $1,000 from my earnings each month for 20 months to pay back the loan.

I sincerely hope you will approve the loan; in that case, please accept my gratitude.

Thank you.”

How do I go about getting a loan from my boss?

If you’re looking to get a loan from your boss, it’s important to consider the nature of your employment relationship. If you are an employee, then this is likely not an option for you.

However, if you are self-employed or work as a contractor for your boss, then there may be some room for negotiation. It’s also important to consider how you plan to use the money and how much you will be able to pay back. If it’s for a business venture, then your boss may want to see some kind of business plan or financial projections before agreeing to lend you the money.

If you’re looking to use the money for a personal reason, however, then this may be a more viable option. It’s important to remember that while your boss may be willing to give you a loan, he or she isn’t required to do so. If you want to get a loan from your boss, it’s important that you approach the situation with respect and honesty. Finally, if you do get a loan, then it is your responsibility to pay back what he or she gave you.

In this example, the purpose of the loan is a personal one (for medical expenses):


With all due respect, I would like to introduce myself as David Smith, a manager who has been employed by your company since 2019. I would like to let you know that I urgently need a loan for my medical care. Since I’m ill, my surgery has been recommended. I require a loan in the amount of $80,000 (eighty thousand dollars only) for this purpose.

Please give my request some thought and grant me a loan. My pay should be used for deductions. I will be very grateful for your kindness.

Thank you.”

What is a good reason to ask for a loan?

There are many reasons why you may need a loan. However, it is important to make sure you have a good reason if you want your lender or employer to grant it.

Here are some examples of good reasons:

  • You want to buy a car or house.
  • You are starting a business and need funds for equipment, inventory, or supplies.
  • You want to go back to school.
  • You need money to pay for medical expenses.

A good reason should be specific and detailed.

For example:

  • If you are applying for a business loan, including information about how the funds will help your business grow and expand.
  • If you are applying for a personal loan, explain why this is the right time in your life to make important purchases such as a car or house.

Is applying for a loan from your boss good or bad?

When you are in need of money, it’s understandable that you would want to apply for a loan. After all, getting a loan means you have access to funds that can help solve your problems. You may even be tempted to take out an unsecured loan if you don’t have any collateral or security for the amount being requested by the lender.

However, applying for a loan isn’t always a good idea. If you have bad credit or no job, it may not be worth your while to get a loan. Even if you do have a steady income and a decent credit score, don’t automatically assume that getting an unsecured loan is the right move. Before you apply for a loan, there are several things you should consider.

For example:

  • Consider your options for other sources of cash.
  • If you have savings or can borrow money from family or friends, it might be better to use these funds instead of taking out a loan.

What are the 3 advantages of a loan from your boss?

Getting a loan is the best way to get the money you need.

Here are three advantages to getting a loan:

  1. It’s easy. If you have good credit and a steady income, getting a loan can be as simple as filling out some paperwork and making one trip to the bank.
  2. You don’t have to wait for your money; you can get it in just a few days.
  3. It’s flexible: When you get a loan, you can also ask for extra money to cover any unexpected costs that come up during the project. If you have bad credit, it can be hard to get a loan.

Land More Interviews With A Professional Resume

Get a professional resume review from a certified career expert


If you’re the type of person who likes to be in control, then this might be a great opportunity for you. You don’t have to go through with it; it’s your choice. If you feel like you have no other options, then this might be a good idea for you.

You don’t have to take it personally! If someone asks you something and doesn’t like your response (or any response), they’ll probably just ignore the question entirely or change their mind about how much money to give out based on how well-received the answer was by themselves and others involved in making decisions regarding how much company resources should go toward whatever project we’re talking about here today.

Your resume is a great place to start if you want to prove yourself as a valuable employee. It’s not just about listing your education and experience; it’s about highlighting what makes you stand out from other candidates and making sure the hiring manager knows that they need to hire you.

If you need assistance with your resume, we have a team of experts who can create a unique resume that will land you the job. Our writers are trained in every industry and can help you craft a resume that showcases your skills and experience as well as how they align with the company’s needs.

Is Your Resume Working?

Get a professional resume review from a certified career expert

Is your resume getting ignored?

Land more interviews and get hired faster with a professional resume written by career experts.


Resume + Cover Letter

$ 199
  • Professionally written resume - By experts that know your industry
  • Formatted for success - Formatting that will get an employer's attention.
  • Keyword optimized - Your resume will be optimized to pass through Applicant Tracking Systems.
  • Collaborate with writer - Work directly with your resume writer for a personalized experience
  • Cover Letter - Employers are 40% more likely to read a resume with a cover letter.

Contact Us

Contact us if you have any questions

Monday - Friday, (9am - 5pm EST)


Priority Support


(786) 474 - 6976