Curufinwe has retired due to RL time comittments. AP&N will be handling the Bank loans office as part of our contract for services with the Bank.

The Rules for loans are here:http://forums.civfanatics.com/showthread.php?s=&threadid=31144

In essence you may borrow up to one half of your expected income for up to 3 full terms. We estimate your income per term based on your salary multiplied by 8 (estimated number of chats per term).

You may get a signature loan for any reason. Interest charges on a signature loan are 10%.

You may get a secured loan to purchase items or to cover startup expenses for a business. In this case the Bank holds title on what was purchased until the loan is payed off. Interest rate on a secured loan is 7%.

NEW
You may get an asset secured loan for any reason. These loans are secured by assets (home, items excluding perishables and animals) that you already own completely. The bank then holds title to the asset until the loan is repaid. Up to 50% of the asset value may be borrowed with up to a 3 term repayment plan.
NEW

Loan payments are automatic and are deducted from your salary. For signature and secured loans the length of payback is the same as the number of terms used to figure the amount of the loan. i.e. If you are borrowing 50% of your income for 3 terms, you will pay back the loan in equal installments for 3 terms. You may pay back the bank early but there is no break or refund on the overall interest charges.

NEW
You may have a maximum of 1 of each type of loan.
NEW

I wish to take out a maximum amount 3 term loan for a business startup (http://forums.civfanatics.com/showthread.php?s=&threadid=32137).

Loan Amount
50% of expected income for 3 terms.
Income = 100 base salary + 40 moderator salary + 30 bank contract.
.5 x 170g (income) x 8 (chats/term) x 3 (terms)
.5 x 170 x 8 x 3 = 2040g

Loan Terms
Interest (5%) = 102g
Total payback = 2142g
Payments = 90g for 23 chats, and 72g for one chat

I am, oddly enough, approving my loan. ;)

yes, this is offical. bank aproves.

I would like to borrow 1200 gold from the bank.
I would like to take this for 3 terms.

Income=130gold/tc...
Totaling to 3120 gold in 3 terms, 50% of which is 1560 gold.
This is much more than my propable income.

The loan would with the 5% interest total to 1260gold payback.

And that would result in a payback of 53 for 23 chats and 41 for one chat.

disorganizer, your loan is approved. Your numbers have been verified.

Income = 100 gpc
Income over 3 terms = 100*8*3 = 2400 gold
Maximum loan = 0.5*2400 gold = 1200 gold

I would like to borrow 1189 gold. The interest at 5% is 59 gold.
Total payback = 1189 + 59 = 1248 gold
Paid back over three terms this would be 24 payments of 52 gold each. :)

Loan Approval
donsig, your loan is approved in the amount of 1189 gold to be repaid in 24 installments of 52g each.

i would like to take a loan for 500 gold.

Loan Approval
jdd2007, your loan is approved for 500g. Your total repayment will be 525g (5% interest). Your repayment schedule is 59g for 8 turn chats plus one turn chat at 53g

AP&N is handling the business startup for Eternal Eye Weekly. SKILORD requires a startup loan for this business.

Income: 100 g/tc
3 term expected income: 2400
Max loan possible: 1200
Loan amount: 1200
Interest: 60
Total payback: 1260

Repayment Schedule:
Turns 10 through 21: 53 g/tc
Turns 22 through 33: 52 g/tc

Loan officer: LOAN APPROVED

ok so is shaitan loan officer jsut cheking cos if not we could make it another job likeprice manager

Yes. AP&N is handling the loan office as part of our contract to the bank.

How much money can i still take as loan? I have one running.

You can only have one loan at a time, dis. You can take out a full loan as soon as you pay back the previous one. If you like we can figure your first loan payoff into your new one but that makes it a signature loan at 10%.

no thanks. i just was interested and wanted to put this thread to the top again ;-)

I would like to take out 1000 gold.
Income is 100 (base) + 3 (land ownership, I think) + 5 (knighthood, I think again...)
I'll repay over 3 terms. Not clear on the math, just tell me how much to repay per chat.

i would like to pay back my loan ... early.

Originally posted by Grandmaster
I would like to take out 1000 gold.
Income is 100 (base) + 3 (land ownership, I think) + 5 (knighthood, I think again...)
I'll repay over 3 terms. Not clear on the math, just tell me how much to repay per chat.
Your signature loan amount is approved for 1000g.
Your interest is 100g making your total repayment 1100g.
Your repayment schedule will be: 20 turn chats at 55g.

Originally posted by jdd2007
i would like to pay back my loan ... early.
348 gold billed. Loan is now paid off.

can i have a 1000 gold loan with minimum pay back i have suddenly lost a lot of money

@BCLG - Your loan is approved

Loan amount: 993g
Interest: 99g
Total Payback: 1092g

Payments: 14 payments at 78g

can i have a secured loan of 1500 gold to start my new buissness i have a signature loan so it should be alright :)

Originally posted by BCLG100
can i have a secured loan of 1500 gold to start my new buissness i have a signature loan so it should be alright :)
Loan amount: 1484g
Interest: 148g
Total Payback: 1632

Repayment schedule: 68g per chat for 24 chats.

Can I get a loan for 700 gold?

I'd like to apply for a loan of 1220g. An asset secured loan might be best. I can put up tile -1/1 as collateral, as I use it for farming. If this type of loan has too high of an interest rate, we might look at a different type.

@gunning1 - Yes, you may. I'll post your particulars in the morning.

@Cyc - You can get an asset loan for up to 50% of the value of the assets you put up for collateral. Land tiles are currently valued at 700g (at demand price). The largest loan you could get using that tile would be 350g. Your best bet is a secured loan at 5%. This loan can only be taken for the value of an asset purchase or business startup material expense. With this you could get 1000g to pay your portion of the startup. If you need that extra 220 you could then do an asset loan for it at 7% using the land tile for collateral.

I'd like to repay my loan early. Thought I'd need it to start my business, turns out I don't. Do I post the transaction here or in the bank?

Quoting Shaitan:
. Your best bet is a secured loan at 5%. This loan can only be taken for the value of an asset purchase or business startup material expense. With this you could get 1000g to pay your portion of the startup. If you need that extra 220 you could then do an asset loan for it at 7% using the land tile for collateral.
_________________________________________________

OK, sounds good, but lets make the second loan for the full 350g. I believe that will give me 1350g at about 5.55%. Just in time for the chat update too. Thank you.

To re-iterate: 1000g @5% and 350g @7% using the terms you posted.

i want a loan of of 1000g to start up my bussiness. thank you.

Originally posted by gunning1
Can I get a loan for 700 gold?
Signature Loan amount: 700g
Interest: 70g
Total repayment: 770g

Repayment Schedule: 14 turn chats @ 55g each.

Originally posted by Grandmaster
I'd like to repay my loan early. Thought I'd need it to start my business, turns out I don't. Do I post the transaction here or in the bank?
As the first payment has not come due and the funds were not accessed we will just cancel the loan. I will post to the Bank thread for this.

Originally posted by Cyc
Quoting Shaitan:
. Your best bet is a secured loan at 5%. This loan can only be taken for the value of an asset purchase or business startup material expense. With this you could get 1000g to pay your portion of the startup. If you need that extra 220 you could then do an asset loan for it at 7% using the land tile for collateral.
_________________________________________________

OK, sounds good, but lets make the second loan for the full 350g. I believe that will give me 1350g at about 5.55%. Just in time for the chat update too. Thank you.

To re-iterate: 1000g @5% and 350g @7% using the terms you posted.
Secured loan: 1000g
Interest: 50g
Total repayment: 1050g

Repayment Schedule: 20 turn chats at 52.5 gold per chat.

Asset loan: 350g, asset is land tile -1/1.
Interest: 25g
Total repayment: 375g

Repayment Schedule: 15 turn chats at 25g per chat.

Originally posted by jdd2007
i want a loan of of 1000g to start up my bussiness. thank you.
Secured loan: 1004g
Interest: 50.2g
Total repayment: 1054g

Repayment schedule: 17 turn chats at 62g per chat.

All loans to this point have been processed.

i would like to take out a loan of 1200. I will pay the full amount on October 15th.

i will probably pay it b4 then, but i don't want to make any promises i can't keep.

How much would i have to pay back for my loan at the moment?

@VHS - Your loan is approved.
Signature Loan amt: 1200g
Interest (10%): 120g
Total repayment: 1320g
Repayment schedule: 24 payments of 55g (you may pay early if you wish)

@disorganizer - Your current loan balance is 1048g

when is my 1st payment due?

The first turn chat after a loan is a grace period so your first payment will be deducted on next Wednesday's turn.

Loan cancelled before processing, per VHS.

k

i need a signature loan on gunning1. hes at -11, with a current loan where he pays 55g/tc. Make it so he still earns something, please. Perhaps a 400g loan at 20g/tc for 20t?

Originally posted by Stuck_As_a_Mac
i need a signature loan on gunning1. hes at -11, with a current loan where he pays 55g/tc. Make it so he still earns something, please. Perhaps a 400g loan at 20g/tc for 20t?
gunning transfered his account. Do you want me to handle it on the Valhalla side?

yes. also- see post in Valhalla regarding RYB (run your business)
also also- remember to post Stock earnings

can i pay off any loans also whats the status on my bank account

Originally posted by BCLG100
can i pay off any loans also whats the status on my bank account
You have one loan at 1014g and another at 1564g.

can i pay any off now i have just made another 800 gold

Yes, your current balance is 1177g so you could pay off the smaller loan.

shai- regarding gunning, sure.

I would like to take out a loan of 350g. I have assets, the Business VKS gave me. I think that should be worth something.

Originally posted by DMX666
I would like to take out a loan of 350g. I have assets, the Business VKS gave me. I think that should be worth something.
Request rejected (obviously).

I want a loan for 3000

How many T/Cs do I have left to pay off my loan?

Originally posted by gunning1
How many T/Cs do I have left to pay off my loan?
You have 11 more chats at 55g per chat. Or, you can pay off the loan in full for the balance (currently 605g).

Originally posted by Strider
I want a loan for 3000
Loan request cancelled by Strider.

can i take out a 7000gold loan please and what would be the repayments

The Bank of Fanatika is no longer in business. You need to go to the Bank of Valhalla now. I'll archive this thread to prevent any more confusion.