Dear [Ms./Mrs./Mr. Last name],
It is with regret we inform you of the investors' decision to not underwrite your business plan, which you presented to us on [Month, Date, Year].
However, we may still be very much interested in financing your business plan provided the Financial Analysis section is reworked to reflect more objective, well-researched and realistic figures concerning your 10-year North American and European sales projections.
Your business plan, otherwise, is one of the best we have seen so far this year. Almost all the investors are impressed with the comprehensive nature of the Market Analysis section.
Like you, we still think what you have come up with is a killer product, and that it will rewrite the tablet PC category for good. We especially like the way you have paid equal attention to both its design and practical application.
The prototype itself seems to be virtually perfect, with the exception of some bugs.
You certainly have brought together an enviable team of researchers, designers, software engineers . . . and we hope we will soon have the pleasure of writing you your first check!
Please contact the undersigned if you have any questions or you feel you are ready to present your reworked business plan.
We wish you and your team the very best.