How to write a letter to borrow money from a friend

Introduction

Borrowing from a friend can feel awkward. A clear, respectful letter helps set expectations and preserves your relationship, even if the outcome isn't perfect. This guide covers how to prepare, structure your message, and a simple template you can adapt.

Why a thoughtful approach helps

• Sets expectations and reduces pressure.
• Shows you take the request seriously.
• Increases the chance of a constructive conversation.

What to consider before asking

• Your repayment plan and timeline.
• The friend's current financial situation and boundaries.
• Willingness to accept a \"no\" without harming the friendship.
• Have you explored other options?

Writing your letter

Structure of the letter

• Opening: a warm greeting and context.
• The request: specify amount and reason.
• The plan: repayment schedule and method.
• Closing: appreciation and invitation to discuss.

Tone and language to use

• Be honest, courteous, and non-demanding.
• Avoid guilt-tripping or threats.
• Acknowledge that you value the friendship regardless of the outcome.

What to include and avoid

• Include: amount, purpose, repayment plan, timeframe, contact method.
• Avoid: vague requests, dramatic language, pressure or ultimatums, unrealistic timelines.

A sample letter

Short, respectful template

Dear [Name],

I hope you are well. I am reaching out because I am in a temporary tight spot and could use a loan of [amount]. I expect to be able to repay by [date], with regular repayments of [amount] on [schedule] until the loan is repaid. I understand this is a big ask, and I will completely respect your decision if you are not comfortable helping. If you can't help, I am glad we can talk about it in a way that preserves our friendship.

Thank you for considering it.

Sincerely, [Your Name]

Non-financial alternatives

• Consider asking for a help with a small gift, or assistance with a plan to steady finances, or seeking other options.

Follow-up and next steps

Timing and patience

• Give them time to think it over; follow up gently if appropriate.

If the answer is no

• Respect their decision; thank them and discuss how to move forward.