Crafter Bank is open for business! We will he offering small loans, under 15k to keep it safe. We will also only be loaning out money to residents+ only for extra security, unless you're a builder donator. Loans must be payed back within a week or the loan amount will go up 500 everyday after the loan is not payed back. (Unless under certain circumstances.) Interest amount is $750 dollars a day, and unless you contact me on the forums or send me in game mail, there is a $750 a day late fee. If u want a loan please contact me: Redmonkey1313 logged on Friday-Sunday. Owners: 7airlinepilot Nitrolaser17 Redmonkey1313 If you would like to apply for a loan please use the format below: In game name: Loan amoumt: How long until the loan is payed back: What will the loan be used for:
You do not state how much has to be paid back.. for example 1k for 1 week or 5k for 1week? I am interested but would like to know how much it costs. Thank you.
I think you should list interest rates in percents, not specific amounts of money. What if somebody were to get a 1000 ecodollar loan and have to pay back almost twice the amount back. Because of a $750 fee. I am just giving suggestions. Because somebody could start another bank and compete with you.
So, just to clarify in my mind - I borrow 1k for 1week - I pay you back $6250. If I borrow 5k for 1 week - I pay you $10250 And if I borrow 1k for 1 day, I would pay back $1750?? Thank you.
Edit!!! Not closing!!! We will just be having a revamp of the company. If you want a loan look for a new post to be out soon!! Mod still lock
The person who came up with the interest rate probably spent less then 10 seconds thinking about it. Who would want to pay back 1750 Ecodollars after borrowing 1000 Ecodollars. Its almost as if paying back 100% interest because 1750 is close to 2000. In the real world, we pay 5% - 30% interest, you guys are saying you will be charging 75% interest which is poop, if you were borrowing 1000 ecodollars, which would be even higher interest if the duration was longer. This isn't going to be convenient for the people that are taking out the loans. The EcoCityCraft public isn't going to borrow money from people who make decisions hastily. I don't blame Redmonkey because he claimed he wasn't responsible for making up these interest rates.
