Letter of interest (LOI)

Letter of interest (LOI),

Definition of Letter of interest (LOI):

  1. Financing: Written communication from lenders in response to requests for financial assistance for projects or transactions. The letter of intent does not confirm the loan or set specific conditions under which the loan can be renewed, only stating that the lender will consider this type of financial assistance. See also Promise.

  2. Purchase: Request written responses from contractors or suppliers through advertising. It is commonly used to review respondents based on their resources and experience with a specific service before submitting a request for reference.

Meaning of Letter of interest (LOI) & Letter of interest (LOI) Definition