Detailed Business Loan Application for Ottawa Pet Facility Store

This document presents a business loan application from Ms. Wendy Moore to the Bank of Montreal, seeking $500,000 to establish a pet facility store in Ottawa, Canada. The application highlights the growing pet industry in Canada, driven by increased pet ownership and the trend of considering ...Read More

Ms. Wendy Moore
100, Wellington Street
Ottawa,
Ontario,
Canada
K1A 0G9
March 23, 2019
Ms. Barbara Cossa,
The Manager,
Bank of Montreal,
Canada
Dear Ms. Cossa
I am a resident of the area in which your bank branch is located. After completing a decade of
professional experience with leading pharmaceutical product and food product companies in
Sales & Marketing, I have decided to venture into something closer to my heart and hence
want to start something of my own as an entrepreneur.
I plan to start a Pet Facility store in our neighbourhood.
Apart from being an animal enthusiast and a pet parent myself, I have also done some
considerable amount of research around this project. According to the IBISWorld, the pet

stores in Canada have recorded a growth of 3.8% over the last five years bringing the market
size to $ 1.8 billion. Also, the number of dogs and cat ownership are increasing by 10% year-
on-year for the last 5 years and is expected to stay strong for the next five years. The major
driving force for growth in this industry is that an increasing number of pet owners consider
themselves to be pet parents and the pets as their family members. Sustained demand for pet
services will be a major driver for sales.
With hardly two full-fledged pet stores in a radius of approximately 8 kilometers also make
this an interesting business proposition. Apart from being just a normal pet store, I propose to
have a separate veterinarian clinic, grooming services and swimming facility as well within
the pet store premises. This addition will make it a unique proposition in this entire locality.
With this in context, I would want to start my venture into this area. Being a proprietary
model of business, I am in need of a business loan to manage the initial capital investments
and to manage the initial procurement of stocks. I will be investing my own savings to
manage the working capital requirements for the initial few months. Thus, I request you to
please consider this application and grant me a Business Loan of $ 5,00,000 only at an
attractive interest plan to be recovered over a period of Six years.
Looking forward to a favourable consideration from your office.
Sincerely,
Wendy Moore

References
IBISWorld. (2018). Pet Stores - Canada Market Research Report. IBISWorld.
MordorIntelligence. (2018). Canada Pet Food Market - Growth, Trends, and Forecast (2018 - 2023).
MordorIntelligence.