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MEMORANDUM

To: Board of directors

From: Mr Steele

Date: 17 September 19—

Subject: Bridging loan

I had a meeting with a customer, Richard Grey, on the September 17 and we discuss loan for his company. His company has a bad time, but he wants to expand the fleet and buy another two lorries and asked us for extending loan. He want to buy second-had vehicles and £30000 for it. He was sure that revenue from the extra lorries allow him repay us within a year and for security he offer this lorries.

During the meeting I said that we can’t extend his loan. I offer him bridging loan. After that I ask about security of loan and said that consult with you.

Thank you.

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