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Sir Tikon
FUITA The Bastard Cartel
0
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Posted - 2016.10.20 23:44:28 -
[1] - Quote
Im currently looking to get a loan to help fund a manufacturing project I'm working on. The reason for the loan is that what ISK I have is currently being put towards this particular project, and need a touch more to get it rolling smoothly.
The ISK will be deposited back to anyone whom invests in this, with 20% interest on top of it (3b ISK) on December 20th, 2016.
If the project is not complete by the above date, the ISK will still be refunded via purchased plex.
I am new to this investment business so if you have any questions, feel free to send me a mail or convo me.
Thank you for your consideration.
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Gnea Crassua
Cow and Pony Kebab Factory Civil War Survivors
0
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Posted - 2016.10.20 23:49:30 -
[2] - Quote
The interest is pretty high so it seems a bit too good to be true.
Would you be willing to give out API to investors or a third party?
(I'm not interested, just tryina help) |
Sir Tikon
FUITA The Bastard Cartel
0
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Posted - 2016.10.20 23:57:11 -
[3] - Quote
I thought the 20% interest was enough to make it worth peoples time for a 2.5b loan for the course of 2 months.
and yes i can provide an api. |
Bobb Bobbington
Bros Before Holes The Devils' Rejects
350
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Posted - 2016.10.21 11:01:15 -
[4] - Quote
I think he means 20% interest total, so what would probably be something closer to 10% interest per month (really slightly smaller if you were going by compounding)
This is a signature.
It has a 25m signature.
No it's not a cosmic signature.
Probably.
Btw my corp's recruiting.
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Sir Tikon
FUITA The Bastard Cartel
0
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Posted - 2016.10.21 17:09:02 -
[5] - Quote
Bobb Bobbington wrote:I think he means 20% interest total, so what would probably be something closer to 10% interest per month
correct |
Solonius Rex
F0RCED ENTRY Domestic Disturbance
343
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Posted - 2016.10.21 21:02:27 -
[6] - Quote
Sir Tikon wrote:I thought the 20% interest was enough to make it worth peoples time for a 2.5b loan for the course of 2 months.
and yes i can provide an api.
Its not the interest were worried about, its the collateral, or rather, the lack of collateral. Simply offering high interest does not mitigate this risk. |
Sir Tikon
FUITA The Bastard Cartel
0
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Posted - 2016.10.21 23:20:05 -
[7] - Quote
The post has been edited to reflect the adjustments that will now include collateral. |
Xylem Viliana
another shell corp mk3
374
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Posted - 2016.10.21 23:26:47 -
[8] - Quote
You may want to show what the collateral is and its rough location.
With collat you stand much better chance of getting the money, but if its in low null it has less value as someone has to either move it of find a buyer, if in mainland highsec use evepraisal and give folks an idea of what they will be holding. |
Sir Tikon
FUITA The Bastard Cartel
0
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Posted - 2016.10.21 23:35:31 -
[9] - Quote
done |
Bad Bobby
Bring Me Sunshine In Tea We Trust
1550
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Posted - 2016.10.22 02:04:55 -
[10] - Quote
The collateral doesn't cover the loan amount: 2180m on evepraisal, 1952m if you ignore the fitted rigs.
You need to raise that to 2750m (110% of the loan value).
The interest rate, at 3.5% per month, is probably a shade lower than it needs to be given the small size of the loan, the short duration and the low-sec collateral. I'm not sure anyone would bite for less than 100m per month (4%). |
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Sir Tikon
FUITA The Bastard Cartel
0
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Posted - 2016.10.22 02:44:41 -
[11] - Quote
the link i posted shows 2.52b, no idea where youre getting your numbers from. other than that youre right. ill update the link to reflect the included interest |
Bad Bobby
Bring Me Sunshine In Tea We Trust
1550
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Posted - 2016.10.22 03:59:38 -
[12] - Quote
Sir Tikon wrote:the link i posted shows 2.52b, no idea where youre getting your numbers from. I'm using the buy value, you're using the sell value.
If someone invests in this and you default, you're expecting them to move two battleships from low-sec to Jita, babysit sell orders to liquidate it all and be happy with 2800m, minus taxes and 241m lost from the fitted rigs.
That liquidation would fall short of the loan amount, would certainly not cover the interest owed and doesn't justify the risk and effort involved in the process.
Would you take up that deal in the hope of maybe making 200m in 2 months time? |
Sir Tikon
FUITA The Bastard Cartel
0
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Posted - 2016.10.22 04:44:12 -
[13] - Quote
. |
Sir Tikon
FUITA The Bastard Cartel
0
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Posted - 2016.10.22 04:51:16 -
[14] - Quote
Bad Bobby wrote:Sir Tikon wrote:the link i posted shows 2.52b, no idea where youre getting your numbers from. I'm using the buy value, you're using the sell value. If someone invests in this and you default, you're expecting them to move two battleships from low-sec to Jita, babysit sell orders to liquidate it all and be happy with 2800m, minus taxes and 241m lost from the fitted rigs. That liquidation would fall short of the loan amount, would certainly not cover the interest owed and doesn't justify the risk and effort involved in the process. Would you take up that deal in the hope of maybe making 200m in 2 months time?
so youd rather have me jack up the interest, jack up the collateral and then what? i contract it all over to someone who would just walk away with it? i dont think so.
The way i see it, is i put up a contract with the collateral at the allotted amount im asking for, no interest included. When the due date is up, i rebuy the contract priced at what was loaned to me + interest on top of it. If i default, no one loses anything and i probably never get another loan.
I understand the whole risk mitigation, but stop trying to eliminate the risk and pass it all over to me. Either take the risk, or dont.
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Sheeth Athonille
Rabid Dogz Mining The Bastion
149
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Posted - 2016.10.22 05:16:09 -
[15] - Quote
Sir Tikon wrote:so youd rather have me jack up the interest, jack up the collateral and then what? i contract it all over to someone who would just walk away with it? i dont think so.
The way i see it, is i put up a contract with the collateral at the allotted amount im asking for, no interest included. When the due date is up, i rebuy the contract priced at what was loaned to me + interest on top of it. If i default, no one loses anything and i probably never get another loan.
I understand the whole risk mitigation, but stop trying to eliminate the risk and pass it all over to me. Either take the risk, or dont.
Just a heads up, you might not want to be confrontational with one of the larger isk loaners in the game when you're asking for a loan
An easy way to eliminate the risk for both parties is to use a third party to hold the collateral (think Chribba). That way, you don't have to worry about anyone running away with it, and the person loaning you isk doesn't have to worry about it getting stolen.
Downside to Chribba is he does charge for his services. I've never looked into them personally, so couldn't really comment on how much it would cost.
Without having a history with people, you're unlikely to get a loan with more favorable conditions unfortunately :/ |
Bad Bobby
Bring Me Sunshine In Tea We Trust
1550
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Posted - 2016.10.22 07:37:45 -
[16] - Quote
Sir Tikon wrote:so youd rather have me jack up the interest, jack up the collateral and then what? i contract it all over to someone who would just walk away with it? i dont think so. You are welcome to use a trusted third party at your own expense, which is what most people do in order to mitigate that risk. However, such arrangements are quite expensive, when compared to the small size of this loan.
Sir Tikon wrote:The way i see it, is i put up a contract with the collateral at the allotted amount im asking for, no interest included. When the due date is up, i rebuy the contract priced at what was loaned to me + interest on top of it. Yes, that's exactly how it should be done, assuming no trusted third party is involved.
Sir Tikon wrote:If i default, no one loses anything The person giving you the loan has then exchanged 2500m for items that you claim are worth 2800m (at Jita sell price).
But those 2800m of items are in low-sec and consist of rigged battleships and fittings. The rigs are worthless in this situation and should not be included in the valuation. The items are not in Jita or anywhere near it, so you should not be using Jita sell price for the valuation. Moving these items from several jumps in to low-sec over to Jita to liquidate them would not be a risk or effort free exercise, if it were you would probably have done this yourself.
So you are offering collateral that can optimistically be valued at 2450m (Jita sell) or pessimistically valued at 2150m (Jita buy) and will not be straightforward to liquidate either way. So the person extending you the loan would lose something in the event of default.
Sir Tikon wrote:and i probably never get another loan. You have no reputation to lose, so that's not really a factor.
Scammers, liars and reprobates of all sorts can get a collateralised loan whenever they want. Trust is not a factor, providing the collateral covers the loan.
Sir Tikon wrote:I understand the whole risk mitigation, but stop trying to eliminate the risk and pass it all over to me. The reason why collateralised loans are offered at such low rates of interest is because there is no significant risk involved.
My suggestion to you would be to move these items to Jita yourself. Once they are there, either sell them and use the isk to fund your venture, or seek out a loan using them as collateral based on the mid-point between Jita sell and Jita buy (minus the rigs) at 4%. This will give you the best chance of success.
As it stands, sensible investors will avoid this like the plague. |
Bad Bobby
Bring Me Sunshine In Tea We Trust
1550
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Posted - 2016.10.22 08:04:59 -
[17] - Quote
Sheeth Athonille wrote:Just a heads up, you might not want to be confrontational with one of the larger isk loaners in the game when you're asking for a loan He's just a novice borrower trying to get the best deal he can without fully understanding the process. I don't resent his frustration.
I'll even agree to fill this loan, provided the terms are brought in to line. But personally, I don't think a loan is the best solution here. |
Sir Tikon
FUITA The Bastard Cartel
0
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Posted - 2016.10.22 23:16:14 -
[18] - Quote
Thank you Zep Grams for taking the opportunity.
Your loan will be returned on December 20th as stated in the original post. |
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