Archive - Loans Office

Status
Not open for further replies.
can i have a secured loan of 1500 gold to start my new buissness i have a signature loan so it should be alright :)
 
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.
 
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.
 
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?
Click to expand...
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.
Click to expand...
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.
 
@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
 
Status
Not open for further replies.

Similar threads

H
  • Poll Poll
Strong culture triggers elections at border cities. Strong religion leeches their yields and influences what they construct. Faith provides immunity.
Replies
0
Views
163
Happiness
H
T
Actual Trains, Better Modern Econ Victory
Replies
7
Views
605
tman2000
T
Quintillus
PSA - Internet Archive Hack
Replies
2
Views
866
The_J
The_J
mycophobia
Changes in Warlords/BTS to building Wealth and their impact on the value of buildings
Replies
1
Views
689
a pen-dragon
A
UncivilizedGuy
[Mod] Financial Institutions
Replies
1
Views
608
UncivilizedGuy
UncivilizedGuy
Back
Top Bottom