Bank Confirmation Letter
A bank confirmation letter is a legal document issued by a bank to confirm that its recipient has secured financing from the bank. It states the specific amount of funds the bank has agreed to provide to the business or individual. It also indicates what purpose the money can be used for.
It is commonly used by people looking to buy a house. It proves to the home’s seller that a bank has approved the buyer for the required mortgage financing so the buyer can close the deal. Bank confirmation letters are also used in business acquisitions as proof of funds available to the buyer.
Author: Kris Tabetando
Kris Tabetando provides mergers & acquisitions (M&A) advisory and brokerage services to Internet companies. He also partners with investors to acquire & manage Internet businesses.
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