This is an example of a payoff letter used in a syndicated loan transaction. This payoff letter (including the defined terms such as Lenders,.Create a Loan Payoff Letter online and download it as a PDF or Word document. Customize and print a blank Loan Payoff Letter for free. A payoff letter provides instructions on how to pay off a loan with a lump sum before the loan term ends. Learn how payoff letters work. Obtaining payoff letters which confirm that a secured party will release its security interest in collateral and terminate UCC financing statements is crucial. The Officer Loan Committee has the authority to approve all loans up to set limits based on the type of loan and the collateral. Have a question about your account or looking for your Routing Number? Count on Columbia to answer all questions and concerns you may have.