Bank of America - Loans and Investments

Discussion in 'Classifieds & Ads' started by beeliebub, Aug 4, 2021.

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  1. beeliebub

    beeliebub bing bong
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    Welcome to Bank of America, EcoCityCraft's #1 Source of Loans

    Bank of America Team: @CammyBunny & @SirSpuzzy
    ​
    Bank of America is your go-to source for money lending needs! We strive to serve the community with flexible interest rates and repayment durations, as well as the ability to become an investor in the bank itself to collect interest on loans!

    Bank of America now offers tool rentals! See the spoiler below for more information!

    Please note: Any and all information on this page is subject to change at any time. Any information that will affect investors will be reported to them immediately.

    Interest from loans is split three ways! 50% of interest is collected by investors, and split among them based on their percent share of invested funds. The remaining 50% is split evenly between the bank and the "security net."

    The security net is a fund that is collected over time to help protect investors and the bank in case of a defaulted loan. These funds will be used to cover losses if they occur!
    Bank of America is now introducing credit! All users start with a base credit of 0, and build credit with the bank by doing business with us! Higher credit scores come with perks like lower interest rates, quick in-game contracts for loans, paying for tool rentals afterwards, and more to come!

    Methods of increasing credit:
    • Paying loans early or on-time
    • Long term investment with the bank
    • Renting and returning tools problem free
    Individual users' credit will not be publicly available.
    • Loans may be approved or denied at the bank's discretion. A user who is well known, responsible, and has the means to pay back a loan has a much higher chance of having their loan request approved!
    • Interest rates are determined based on the amount of EcoDollars requested, but this number is negotiable most of the time!
      • 20% interest at $50,000+
      • 15% interest at $100,000+
      • 12% interest at $250,000+
      • 10% or lower interest at $500,000+
    • Most loans will require a forum contract, however, users that are trusted by the bank may be eligible for an in-game contract!
    • Bank of America takes risk management very seriously, as our investors deserve to have their money protected! The bank will not engage in loans or other business ventures that put funds in jeopardy.
    • 50% of interested accrued from any given loan is split among investors. The amount each individual investor receives is determined by their percent portion of invested funds. This is clearly labelled on the spreadsheet, and is meticulously kept up to date.
    • The interest an investor receives on any given is calculated when the loan is issued, this will not change if an investor withdraws or deposits any funds after the loan is issued.
    • Bank of America strives to serve its investors as well as possible. The bank reserves the right to hold deposited funds for 30 days after deposit before they can be withdrawn. However, if an investor would like to withdraw sooner they may, so long as the funds are available.
    • If you would like to invest in the bank, please contact @CammyBunny in-game or on the forums!
    IGN:
    Amount Requested:
    Reason for Loan:
    How do you plan to earn the funds to repay this loan:
    Requested repayment period:
    • L3 Rod x4 - 20k/hr, 250k/day
    • L3 Hoe x1 - 15k/hr, 200k/day
    • L3 Pick x1 - 10k/hr, 150k/day
    IGN:
    Tool Requested:
    Features Owned (Things like repairs, tombstone, pyro):

    In the spirit of transparency, all of Bank of America's financial documentation is provided to the public via the spreadsheet below!

     
    • Friendly Friendly x 3
    • Potato Potato x 3
    • Winner Winner x 1
    • Thonk Thonk x 1
    • List
    #1 beeliebub, Aug 4, 2021
    Last edited: Mar 8, 2022
  2. Snowzberry

    Snowzberry Tycoon
    Tycoon ⛰️⛰️⛰️

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    IGN: SnowzBerry
    Rank: Mayor
    Amount Requested: 173k
    Reason for Loan: To become president
    How do you plan to earn the funds to repay this loan?: FArming,Fishing
    Do you currently owe any other debt, and if so, how much: None
    Ideal loan duration: As long as you can make it
     
    #2 Snowzberry, Aug 4, 2021
  3. TheUnrulyAxius

    TheUnrulyAxius Mayor
    Mayor ⛰️⛰️

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    IGN: TheUnrulyAxius
    Rank: Resident
    Amount Requested: 85,000
    Reason for Loan: Promotion to Mayor
    How do you plan to earn the funds to repay this loan?: I have a farm that, when worked for a couple days, will provide income of about 1k per 64 stack of Haybales (I can make those per 2 hours)
    Do you currently owe any other debt, and if so, how much: None owed.
    Ideal loan duration: Willing to pay back the debt at a 2 month contract, accruing interest on a bi-weekly basis.
     
    #3 TheUnrulyAxius, Aug 5, 2021
  4. beeliebub

    beeliebub bing bong
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    Approved, please contact me in-game so that we can discuss specifics and set up a forum contract.
     
    #4 beeliebub, Aug 5, 2021
  5. beeliebub

    beeliebub bing bong
    Server Admin EcoLegend ⛰️⛰️⛰️⛰️ Prestige ⭐⭐ XI ⭐⭐ Gameplay Architect Premium Upgrade Wiki Team

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    Approved after revised terms in-game, forum contract signed.
     
    #5 beeliebub, Aug 5, 2021
    Last edited: Aug 5, 2021
  6. Skiblo

    Skiblo Resident
    Resident ⛰️ Ex-Builder ⚒️

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    IGN: Skiblo
    Rank: Resident
    Amount Requested: 50,000
    Reason for Loan: To pay for mayor
    How do you plan to earn the funds to repay this loan?: I will create a town with plots, a shop, and more to create profit.
    Do you currently owe any other debt, and if so, how much: None
    Ideal loan duration: One month
     
    #6 Skiblo, Aug 23, 2021
  7. SirSpuzzy

    SirSpuzzy Wandering Shulker Salesman
    Mythic ⚔️ I ⚔️ ECC Sponsor EcoLegend ⛰️⛰️⛰️⛰️ Ex-EcoLegend ⚜️⚜️⚜️⚜️ Prestige ⭐⭐ X ⭐⭐ Premium Upgrade

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    Declined. Contact me in game or forum message for more information
     
    #7 SirSpuzzy, Aug 24, 2021
  8. DvL7

    DvL7 EcoLeader
    EcoLeader ⛰️⛰️⛰️ Ex-Builder ⚒️ Prestige ⭐ I ⭐ Premium Upgrade

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    IGN DvL7
    Rank President
    Amount Requested:600k
    Reason for Loan:Buying magic tool
    How do you plan to earn the funds to repay this loan?:Magicdays
    Do you currently owe any other debt, and if so, how much:No
    Ideal loan duration : one month
     
    #8 DvL7, Aug 30, 2021
    Last edited: Aug 30, 2021
  9. beeliebub

    beeliebub bing bong
    Server Admin EcoLegend ⛰️⛰️⛰️⛰️ Prestige ⭐⭐ XI ⭐⭐ Gameplay Architect Premium Upgrade Wiki Team

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    Thank you for applying, however we unfortunately cannot accept this loan at this time.
     
    #9 beeliebub, Aug 30, 2021
  10. Wallky

    Wallky President
    President ⛰️⛰️

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    IGN: Wallky
    Rank: Mayor
    Have you been banned previously, and if so, why: No
    Amount Requested: $180,000
    Reason for Loan: Rank up to president
    How do you plan to earn the funds to repay this loan?: Mining and fishing
    Do you currently owe any other debt, and if so, how much: I owe $208,000 (Already have all of the money to repay that debt)
    Ideal loan duration: 4 weeks
     
    #10 Wallky, Sep 3, 2021
  11. beeliebub

    beeliebub bing bong
    Server Admin EcoLegend ⛰️⛰️⛰️⛰️ Prestige ⭐⭐ XI ⭐⭐ Gameplay Architect Premium Upgrade Wiki Team

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    Approved, will post forum contract shortly.
     
    #11 beeliebub, Sep 3, 2021
  12. Wallky

    Wallky President
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    IGN: Wallky
    Rank: President
    Have you been banned previously, and if so, why: No
    Amount Requested: 520,000
    Reason for Loan: Buying features
    How do you plan to earn the funds to repay this loan?: Mining, fishing, farming
    Do you currently owe any other debt, and if so, how much: I do 150k (For which I have most of the money to repay)
    Ideal loan duration: 6 weeks
     
    #12 Wallky, Sep 10, 2021
  13. beeliebub

    beeliebub bing bong
    Server Admin EcoLegend ⛰️⛰️⛰️⛰️ Prestige ⭐⭐ XI ⭐⭐ Gameplay Architect Premium Upgrade Wiki Team

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    Approved, will post forum contract shortly
     
    #13 beeliebub, Sep 10, 2021
  14. Bopogame1

    Bopogame1 President
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    I need it before magic day. If you're reviewing this and magic day already started cancel the loan application
    IGN: nejcgg
    Rank: President
    Have you been banned previously, and if so, why: No
    Amount Requested: 500,000
    Reason for Loan: Attempt to buy a god drop
    How do you plan to earn the funds to repay this loan?: Magic day is very soon (I'll play for around 24h) + any magic hours before or after that (Got to mention that I have a L3 rod and a L1 pickaxe so it will be easy to repay)
    Do you currently owe any other debt, and if so, how much: 1,300,000 ECD
    Ideal loan duration:1 week
     
    #14 Bopogame1, Sep 14, 2021
    Last edited: Sep 14, 2021
  15. Terrov

    Terrov Mayor
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    IGN: Terrov
    Rank: Resident (By choice, not ready for my town quite yet)
    Have you been banned previously, and if so, why: No
    Amount Requested: 300,000
    Reason for Loan: Upfront payment for Magic Day rented item.
    How do you plan to earn the funds to repay this loan?: Fishing on magic day + fishing with star rod afterwards.
    Do you currently owe any other debt, and if so, how much: No current debts.
    Ideal loan duration: 2 weeks (planning to repay after magic day).
     
    #15 Terrov, Sep 14, 2021
  16. beeliebub

    beeliebub bing bong
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    This application cannot be accepted at this time due to other outstanding debt on the part of the applicant.
     
    #16 beeliebub, Sep 14, 2021
  17. beeliebub

    beeliebub bing bong
    Server Admin EcoLegend ⛰️⛰️⛰️⛰️ Prestige ⭐⭐ XI ⭐⭐ Gameplay Architect Premium Upgrade Wiki Team

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    Application has been withdrawn by the applicant, thanks for your interest, maybe next time!
     
    #17 beeliebub, Sep 14, 2021
  18. Mysticgoli123

    Mysticgoli123
    Mythic ⚔️ I ⚔️ ECC Sponsor President ⛰️⛰️ Ex-EcoLegend ⚜️⚜️⚜️⚜️ Prestige ⭐⭐ X ⭐⭐ Premium Upgrade

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    IGN: @Mysticgoli123
    Rank: President
    Have you been banned previously, and if so, why: Yes, long ago for accidental griefing
    Amount Requested: 1.8M
    Reason for Loan: Buying stars to then buy star melon sword
    How do you plan to earn the funds to repay this loan?: Melon farming
    Do you currently owe any other debt, and if so, how much: None
    Ideal loan duration: 8-12 weeks
     
    #18 Mysticgoli123, Sep 21, 2021
  19. beeliebub

    beeliebub bing bong
    Server Admin EcoLegend ⛰️⛰️⛰️⛰️ Prestige ⭐⭐ XI ⭐⭐ Gameplay Architect Premium Upgrade Wiki Team

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    Approved, will post forum contract shortly
     
    #19 beeliebub, Sep 21, 2021
  20. Bopogame1

    Bopogame1 President
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    IGN: nejcgg
    Rank: President
    Have you been banned previously, and if so, why: I did not
    Amount Requested: 3.0M
    Reason for Loan: The loan will be used as an investment in station11 which is a magic tool renting service. I am constantly looking out for more tools to rent out and I believe this is the best decision to make.
    How do you plan to earn the funds to repay this loan?: Fishing with an L3 rod on magic days. And before when I said I would rely on the magic day to pay the 500k loan that was declined, I was successful and played for over 24h as I said I would and I did pay the rest off. I plan to do the same here. I will fish for over 20 hours on both magic days. The dates are stated below.
    Do you currently owe any other debt, and if so, how much: 1,42M
    Ideal loan duration: This magic day (Sep 29 - Oct 1), then another one aka the one around Oct 14. So technically it would take me 3 weeks and 1-2 days (from when this post was published).
     
    #20 Bopogame1, Sep 23, 2021
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