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blankseplocked [Loan] Microloans - No Collateral needed
 
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Author Topic

Cainam
Hypherians
Posted - 2008.09.25 07:56:00 - [31]
 

I need more attention! Still lots of ISK available for lending!

Cainam
Hypherians
Posted - 2008.09.25 22:38:00 - [32]
 

*resisting urge to post linky in General discussion*

c4 t
Directive Enterprises
Posted - 2008.09.25 23:11:00 - [33]
 

hi this sounds perfect for me. while i need much more than 50m 50m is still a good amount for i will be getting a good return for it. heres a thread of me requesting a loan in market discussion. eve mail to come when i get home.

http://myeve.eve-online.com/ingameboard.asp?a=topic&threadID=882655


Cainam
Hypherians
Posted - 2008.09.27 01:49:00 - [34]
 

Originally by: c4 t
hi this sounds perfect for me. while i need much more than 50m 50m is still a good amount for i will be getting a good return for it. heres a thread of me requesting a loan in market discussion. eve mail to come when i get home.




Sure thing, feel free to contact me at any time!

Pyea
Posted - 2008.09.27 19:23:00 - [35]
 

I'd quite like a loan please. Sending Evemail now.

Deimi
Posted - 2008.09.27 20:44:00 - [36]
 

Yes I agree Aramova, and one does not need to do any in-depth questioning of a character either. Just a look at standings will tell if the char is played normally, as well as adding it to the friends list to see if the guy are online or only get on rarely.
So one could judge only from either or both of these two, and not more might even be needed to say if someone is safe business or not.

Now interest here is high on a year basis, but on the other hand, as the game goes, most should be able to either get their mining or mission running up and profitable in a shorter time than that so I don't say the interest is too high either considering the risk involved. In short Cainam is dealing on a market where no-one else is currently and so it might be seen as a good service for those who need it.
But that is the end line, any and every who considers this kind of loan should ask themself if they really need it in the first place.

Shadowdeath73
Posted - 2008.09.27 22:24:00 - [37]
 


CLH0203

This is a loan agreement between speeddeath73 and Cainam.

Loan amount: 10mil ISK
Interest: 10% per week
Repayment date: 5th october

I'm aware that I will be charged 10% interest per week (minimum 1 week) and that the interest ticks per start of every week (7 days) counting from when I recieved my loan.

Cainam
Hypherians
Posted - 2008.09.27 22:27:00 - [38]
 

Originally by: Shadowdeath73

CLH0203

This is a loan agreement between speeddeath73 and Cainam.

Loan amount: 10mil ISK
Interest: 10% per week
Repayment date: 5th october

I'm aware that I will be charged 10% interest per week (minimum 1 week) and that the interest ticks per start of every week (7 days) counting from when I recieved my loan.




Agreed. Isk will be sent shortly.

For your information, the isk will be sent from my corporations wallet (Hypherians) and will be listed in your wallet with the reference number CLH0203.

Cainam
Hypherians
Posted - 2008.09.28 18:43:00 - [39]
 

More and more happy customers finding my banking-venture every day now.

Still lots of ISK available for lending! Razz

Cainam
Hypherians
Posted - 2008.09.29 18:47:00 - [40]
 

Up we go

Setarcos Nous
Posted - 2008.09.29 20:42:00 - [41]
 

I am not one to take out a loan anyway, but I think if you lowered your interest rate, or extended the period in which it accumulates you might get more takers. Like I said, I am not one to take a loan, but I would still find 20%/month more tempting than what you are offering. For people like me, who only really get to play on the weekends. We'd probably get the money at the end of the weekend, and then not be able to actually use it until the first payment was due. You might want to let the client specify the date they want the loan to be available on, that way you could deposit it early for your own convenience without having to miss out on a potential client that will not be able to use it immediately and not want to pay a week's worth of fees only days (if that) after they can.

Also, the terms are a little vague. Are the interest rates compounded or is really it a flat weekly fee that is a percentage of the loan amount? If so, what happens when a client pays down the principle partially? Will the weekly fee remain static, or will it decrease in proportion to the balance? Oh, and if it is compounded weekly, it is not 520%/year as an earlier poster suggested; it is over 14,100%/year. There is a reason credit card contracts are long. While I can see why you would want to keep your screening process secret, I think it might increase your business if you elaborated on how you calculate fees.

Ares Aurora
Caldari
Beyond Ascension
Posted - 2008.09.29 21:14:00 - [42]
 

I would like to wish you luck for this venture.

Just wanted to say how cool it would be if CCP could put a Credit File on our Character Sheets and then things like this will work much better.

If people have no credit history then would be a medium rated customer, taken debts and repaid on time then a good rated customer and of course black listed for non-payment.

The black list might then prompt payment to have the black list removed after say 30 days or so as yes we all fall on hard times in rl and eve sometimes :)

If not could some cool forum poster who has alot of time on hands make a forum sticky with likes of a credit file for eve universe.

Someone takes out a debt, gets registered with the forum via the lender and then can be updated as lends get paid.

Eve really does need a good credit facility and this could go to some way to getting one, but of course peeps would maybe not think twice about tarnishing a good credit history for 1 quick gain but I think most peeps like me would rather have a pristine record.

Anyways just wanted to post my idea.

Good luck,



Cainam
Hypherians
Posted - 2008.09.29 21:51:00 - [43]
 

Originally by: Setarcos Nous
Lots and lots of valid points that I'm sorry to say that I've missed to address.



Hi there - and thank you for bringing up some valid points here.

First, remember that this is strictly an experiment so far. When I set this up I hadn't spent much time considering all possible options or questions a potential client might have. Look at this service as a trial run, or a researching of the market if you will, basically its here in a very rough form so that I can decide if this is a venture worth sinking my teeth in to, and to see if these kind of loans without collateral is viable in the world of EVE.

However, if this initial test proves successful the whole venture will be re-launched on a grander scale, with websites, dedicated corp running it, possibilities (perhaps) for investors etc. etc. Basically the whole shebang.... While this might take a while to get in to place, the first steps has already been taken. This re-launch would with high probability include other/more services, some of which you have mentioned in your post for instance, variable interest rates, weekly installments etc. It all comes down to which services are wanted/needed. To all of you with good suggestions, feel free to post them here!

Finally, I want to apologize for being unclear about compounded interest-rate VS. flat weekly fee. My first thought was actually to use a compounded interest mostly to keep clients from taking out a loan over a longer period of time and thus leading to this test-run taking too long time. However, since this obviously led to some confusion this is retroactively being changed to a flat 10% weekly fee, and anyone (none to my immediate knowledge) charged a compounded interest will have their interest changed to a flat fee. As for partial payments of a loan; I simply do not have the tools to keep track of this yet, thus it is expected that anyone taking out a loan is ready to make a payment in full on the agreed upon date.


Important info below:


To anyone confused about how the interest is calculated, the "interest" is a flat 10% weekly fee to be paid together with the repayment of the loan.

Thus, taking a 50m loan for X weeks would result in the following:

One week loan : 55m repayment
Two week loan: 60m repayment
Three week loan: 65m repayment
Four week loan : 70m repayment
etc...

__________


Again, thank you all for taking interest in this venture, and again, I'm sorry if anything is unclear or a bit rough around the edges. If it all falls out well I'll be sure to iron out the details and re-launch this as a full time, fully fledged lending institute.


//C







VIPERSCARNAGE
Posted - 2008.09.30 20:27:00 - [44]
 

Bumpety Dumpety sat on a wall...is that how the rhyme goes?Wink

Scagga Laebetrovo
Failure Assured
Posted - 2008.09.30 21:39:00 - [45]
 

Hrrr I strongly approve of this experiment. Mr Cainam, I would like to borrow a few moments of time for a chat - no pun intended Wink

VIPERSCARNAGE
Posted - 2008.10.01 17:15:00 - [46]
 

Up Top

Cainam
Hypherians
Posted - 2008.10.01 19:59:00 - [47]
 

Originally by: Scagga Laebetrovo
Hrrr I strongly approve of this experiment. Mr Cainam, I would like to borrow a few moments of time for a chat - no pun intended Wink


Hi,

Been trying to contact you ingame without success to lend you a few moments of my time. Remember that the interest is ticking from the point you open convo (RE: pun) Wink

VIPERSCARNAGE
Posted - 2008.10.02 10:35:00 - [48]
 

Up top, downtime approaching.

Meeogi
Amarr
Lone Star Privateers
Posted - 2008.10.02 13:42:00 - [49]
 

Very Happy Hello Cainam!.....I am interested in a small noobie loan. Let me say that I think this is a fantastic idea,and I wish you a long and successful venture. I should be on at start up.
Looking forward
Meeogi

Atridies
Posted - 2008.10.02 17:40:00 - [50]
 

I'd like a loan please.

Sending you a mail in game.

Lighting Strike
Posted - 2008.10.08 07:03:00 - [51]
 

bump, this seems like a pretty nice idea.

Cainam
Hypherians
Posted - 2008.10.11 13:20:00 - [52]
 

Been out of game for a few days, seems this topic slipped down from the first pages.

*bumps topic back to the fist page*

InfamousOne
Posted - 2008.10.11 17:31:00 - [53]
 

I would just like to say good luck with your experiment and I hope everything works out. I think this is an excellent service and will really help out newer players, I know it would have helped me when I first started, getting iskies to buy my first cruiser took forever :-) Best of luck mate....cheers.

Inf

Shadowdeath73
Posted - 2008.10.13 22:05:00 - [54]
 

CLH0206

This is a loan agreement between speeddeath73 and Cainam.

Loan amount: 10mil ISK
Interest: 10% per week
Repayment date: 20 october

I'm aware that I will be charged 10% interest per week (minimum 1 week) and that the interest ticks per start of every week (7 days) counting from when I recieved my loan.

and thanks again cainam

Cainam
Hypherians
Posted - 2008.10.13 22:12:00 - [55]
 

Originally by: Shadowdeath73
CLH0206

This is a loan agreement between speeddeath73 and Cainam.

Loan amount: 10mil ISK
Interest: 10% per week
Repayment date: 20 october

I'm aware that I will be charged 10% interest per week (minimum 1 week) and that the interest ticks per start of every week (7 days) counting from when I recieved my loan.

and thanks again cainam


Agreed, sending isk shortly.

Pete X
Minmatar
The Littlest Hobos
Ushra'Khan
Posted - 2008.10.28 11:06:00 - [56]
 

can i get a loan of 150mill isk? convo me or mail me

Komatose
Caldari
Posted - 2008.10.28 12:59:00 - [57]
 

Originally by: VIPERSCARNAGE
Up top, downtime approaching.


Am I the only one that finds it suspicious that the person who he was arguing with about how unfair the screening was is his alt that is bumping the topic repeatedly?

Elaine Celeste
Celeste Industries
Posted - 2008.10.28 13:09:00 - [58]
 

Originally by: Komatose
Originally by: VIPERSCARNAGE
Up top, downtime approaching.


Am I the only one that finds it suspicious that the person who he was arguing with about how unfair the screening was is his alt that is bumping the topic repeatedly?


Yeah I noticed that a while ago too...

Niko Lorenzio
United Eve Directorate
Posted - 2008.12.03 18:40:00 - [59]
 

Where were you when I was broke and needed ISK for my godamn mission running mods & Insurance!

I guess you were here but I didn't read the forums enough : p

Andres Talas
Posted - 2008.12.03 22:40:00 - [60]
 

Bump


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