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Eastern Promise
Gunboat Commerce
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Posted - 2010.01.25 08:14:00 -
[1]
Hello everyone,
I'm fairly new to both MD and the "less pew-pew" side of Eve. In an attempt to fund my space violence, approximately 3 months ago I took an unoccupied alt, Cuppa Coffee, gave her some ISK to play with, and rapidly found myself enjoying the commercial side of Eve as much as the one to which I was more used.
In short, I would like to ask a few questions regarding the possibility of future funding. I apologise in advance for any brutal treatment I give words like "bond" and "collateral", my knowledge of financial jargon is fairly limited!
Firstly, it is by no means certain that I will need this funding. The majority of the people I associate with in Eve are the spendy types who often have limited ISK, but there is at least one person I may be able to call upon for the money, which would be a sum of 1 billion ISK.
The business would be inter-regional trade, hisec only. I have already begun doing this, and have made a reasonable profit, fairly quickly. A loan would allow me to expand my business more quickly by allowing me to purchase a freighter. The billion ISK I ask for would cover the cost of the freighter, the freighter skillbook, and possibly insurance, without reducing my capital.
I consider this a fairly safe investment, but I have a few questions:
- Firstly, would anyone be interested in this? What sort of interest rate would be expected? (I can see the time rate as lasting 1-2 months)
- What sort of security would this bond require?
- I occasionally make use of the corporate wallet to funnel ISK where it is needed, and also send and receive ISK throughout the 5 or so characters I actively use. Will this be a problem for an auditor, should one be required?
I would like to reiterate that this is a discussion regarding a future loan; the soonest that I could possibly launch this bond would be at the beginning of March, to allow for my two RL business trips during February, and to get my freighter pilot ready SP-wise.
If you have any input, comments, or criticism, please reply.
Best,
Eastern
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Cuppa Coffee
Gunboat Commerce
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Posted - 2010.01.25 08:16:00 -
[2]
Confirming Eastern and I are one and the same human bean.
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Riethe
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Posted - 2010.01.25 11:06:00 -
[3]
The simple response is this:
If you want a loan, you need collateral to cover it entirely.
The alternative is a very positive audit by someone credible.
Falling short of both of those:
More regular MD participation. Better understanding of "financial jargon," more trade experience, smaller startup request. (though this will also be crucified, mostly because MD is bored lately.)
Exist, be known. Contribute, be positive. Get audited once you feel it'll pass with 120% of your expectations. Then demand the ISK.
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Taram Caldar
Noir.
Noir. Mercenary Group
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Posted - 2010.01.25 13:52:00 -
[4]
Edited by: Taram Caldar on 25/01/2010 13:53:02
TBH a 1bil loan to get a freighter isn't a bad 'starting out' point in MD. But you will need to submit to a full audit and some kind of collateral isn't a BAD idea either.
My best advice would be:
1) Get a full audit done.
2) If offering collateral your rate should be roughly 8%
2a) If not offering collateral your rate should be around 10-12%
3) Don't set your share/bond price too high. I'd say 1mil/bond is a fair price and will allow smaller investors to help you out. It also reduces the risk of people considering it a scam.
4) References from folks who know you and are known in the general EVE community (preferably MD regulars but not everyone knows someone in MD) is probably a good idea. IE: CEO, corp mates, friends, etc.
Want a sig made? Contact me in game. Click my sig to see samples |
Roguehalo
Caldari
Resonance Laboratories
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Posted - 2010.01.25 15:10:00 -
[5]
Edited by: Roguehalo on 25/01/2010 15:10:34
I bought a freighter recently and it is now sitting in my hangar going rusty and getting very dusty. I'm sure it's probably feeling very unloved and neglected.
It took me only a few jumps to realise that watching paint dry is inestimably more interesting than flying a freighter. 
edit : spelling
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Eastern Promise
Gunboat Commerce
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Posted - 2010.01.25 16:04:00 -
[6]
Ok, thanks for the answers chaps. Some stuff to mull over here. Regarding the freighter certainly; I'll see how business goes with other forms of transport first.
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