If your intent is to persuade the recipient in some way, whether it's to invest money, give you a reference, hire you, partner with you, or fix an issue, create a compelling case for your cause. If, for example, you want the reader to sponsor a charity event, identify any overlap with their company’s philanthropic goals. Convince the reader that helping you would be mutually beneficial, and you will increase your chances of winning their support. Keep your closing paragraph to two sentences. Simply reiterate your reason for writing and thank the reader for considering your request.
Anything that you'd use in an informal communication is inappropriate for a business letter. This includes slang, text_speak, emojis, and anything off_color or casual. If you're used to communicating mostly with friends, family, or even co_workers you've worked with for a long time, an appropriate closing for a business letter will probably feel pretty stilted at first. Don't worry about it – your colleague or business associate won't feel that way when he or she reads your correspondence. What seems unnatural to you will feel respectful and polite to the recipient.