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[Service] Micro and not micro loans

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Vaerah Vahrokha
Vahrokh Consulting
#1 - 2012-11-04 16:27:18 UTC  |  Edited by: Vaerah Vahrokha
Hello,

Effective today it's possible to get a fast (generally < 24 hours delivery time) loan / bond from me.

Minimum amount is 300M, maximum 10B.
Interest rate is 1.8% for 1 week, 3% for 2 weeks, 4% for 3 weeks, 5% for 1 month.

Loan must have collateral, located at Jita IV CNAP.
In case collateral is in BPOs, collateral must cover 105% of the requested amount. Unless the BPOs are high end, they will be valued as NPC value. This because they also cover the potential interests loss in case of default.
In case collateral is a liquid market item, it must cover 110% of the requested amount.
In case of illiquid items it will have to cover 120% of the requested amount.

In case the ISK is not given back within the next downtime past maturity date, collateral WILL be immediately dumped to market, whatever it is.

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Vargan Armer
Tribal Liberation Force
Minmatar Republic
#2 - 2012-11-04 19:19:07 UTC
So how do we go about getting an investment, do we have to mail you, or post here or what?
Barakach
Caldari Provisions
Caldari State
#3 - 2012-11-04 20:08:52 UTC
It's a trap! One should never trust someone that has fewer than 2,000 likes.
Vaerah Vahrokha
Vahrokh Consulting
#4 - 2012-11-04 20:19:31 UTC
Vargan Armer wrote:
So how do we go about getting an investment, do we have to mail you, or post here or what?


Do as you wish, I am fine with both.

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Vadane Deninard
The Scope
Gallente Federation
#5 - 2012-11-04 21:45:16 UTC
I assume the collateral is based on the estimated price given in-game?

I currently have my alt in nullsec, with most of his ships still in highsec. Because I dont need them now anyway, I'm basically interested in providing them as collateral for a bond for my main (this char right here). The problem however about rigged/fitted and/or equipped T3 cruisers is that the est. price does not reflect the total worth.

I.e. a rigged Proteus with subsystems is about 0.8 B while it will only show 230M for the main hull though. Will you take this into account?

I'm asking this because I could understand if you would not take it into account. In the end, it would be more work for you to sell such a configuration via contract than just throwing it on the market.

Thanks and very bests

VD

PS: Bara, good one. ;)
Nanatoa
#6 - 2012-11-04 22:27:05 UTC
Vadane Deninard wrote:
The problem however about rigged/fitted and/or equipped T3 cruisers is that the est. price does not reflect the total worth.

I.e. a rigged Proteus with subsystems is about 0.8 B while it will only show 230M for the main hull though.


You're confusing cost with worth. Rigged ships are often harder to sell than unrigged ships (have to use contracts instead of market), and usually will not bring in substantially more money than just the hull would.

"Stay the course, we have done this many times before." - (CCP) Hilmar, June 2011
Vaerah Vahrokha
Vahrokh Consulting
#7 - 2012-11-04 23:18:17 UTC
Vadane Deninard wrote:
I assume the collateral is based on the estimated price given in-game?

I currently have my alt in nullsec, with most of his ships still in highsec. Because I dont need them now anyway, I'm basically interested in providing them as collateral for a bond for my main (this char right here). The problem however about rigged/fitted and/or equipped T3 cruisers is that the est. price does not reflect the total worth.

I.e. a rigged Proteus with subsystems is about 0.8 B while it will only show 230M for the main hull though. Will you take this into account?

I'm asking this because I could understand if you would not take it into account. In the end, it would be more work for you to sell such a configuration via contract than just throwing it on the market.

Thanks and very bests

VD

PS: Bara, good one. ;)


I know I am going to be verbose once again but I want to be as detailed and "predictably consistent" as possible.
Therefore in line of principle I follow this Contract of Collateral Holding I posted long ago.

In particular, ARTICLE IV – GENERAL COLLATERAL EVALUATION CRITERIA paragraph 2 states:

"In case of ships, rigs value is always considered equal to zero."

This comes from years of having held missioning ships as collateral: they can't be dumped on a market and the new owner is almost never going to keep the existing rigs configuration, so it's like they are worth zero.

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Vaerah Vahrokha
Vahrokh Consulting
#8 - 2012-11-07 16:42:40 UTC
I am pleased enough with the in game feedback I am receiving so I added an additional 5B on top of the possible loan maximum.

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Vaerah Vahrokha
Vahrokh Consulting
#9 - 2012-11-08 11:13:44 UTC
I have been contacted in game about extending loans and similar.

It works as follows:

- If you ask for 1 month loan then even if you give the ISK back before the month, you'll still be charged the month's interest.
Micro loans are too many to effectively track pro-rata interests calculations and so on.

- If you ask for say 1 week and then want to extend another week, you'll:

a) Important! Send me a mail stating your intention to extend the loan 2-3 days before the loan end.
b) Pay week 1 interest only at the end of the week.
b) At the end of the second week you eventually repeat from a) (in case you want to extend again). Otherwise I just create the contract of collateral back to you for the second week interest plus original principal.

I can't stress enough the importance of sending me a mail in advance, because if I don't receive any communication I'll have to consider the loan as defaulted and thus liquidate the collateral.
I might not liquidate it immediately but I can't guarantee I won't.

My decisions will be completely dependent on ESYFND Investors shares redeeming decisions.

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Vaerah Vahrokha
Vahrokh Consulting
#10 - 2012-11-12 12:18:57 UTC
With 3 current loans plus one probably in the make, the amount of available capital available is now 9-10B.

If you are interested in a loan please notify me as I estimate in 3 days it'll be all used.

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Vaerah Vahrokha
Vahrokh Consulting
#11 - 2012-11-13 18:22:58 UTC
A loan completed so there are an additional new 3B available on top of the rest.

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Vaerah Vahrokha
Vahrokh Consulting
#12 - 2012-11-16 07:59:26 UTC
19B available for loans now.

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I Was There
Habemus
#13 - 2012-11-16 10:42:01 UTC  |  Edited by: I Was There
Would 'Pure Strong drop' be considered worthy for collateral? It's a product of two reactions. First between Exile and Drop and then another reaction between the Improved Drop and X-instincts. Pure Strong Drop can be produced into Strong Drop boosters.
If this is a valid item to use as collateral, would the 'Estimated value' provided by CCP be what we're measuring with?

-IwasThere
CEO of The Nigerian Drug Manufactoring co.
Vaerah Vahrokha
Vahrokh Consulting
#14 - 2012-11-16 10:46:39 UTC
I Was There wrote:
Would 'Pure Strong drop' be considered worthy for collateral? It's a product of two reactions. First between Exile and Drop and then another reaction between the Improved Drop and X-instincts. Pure Strong Drop can be produced into Strong Drop boosters.
If this is a valid item to use as collateral, would the 'Estimated value' provided by CCP be what we're measuring with?

-IwasThere
CEO of The Nigerian Drug Manufactoring co.


I am sorry but the item you refer to is traded in absolutely minimal amounts and with huge spread. I'd have to value it 65k pu.

Acceptable collateral has to be liquidable within 1 week tops as well.

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Vaerah Vahrokha
Vahrokh Consulting
#15 - 2013-01-13 09:30:22 UTC
Alex Grison
Grison Universal
#16 - 2013-01-13 19:11:33 UTC
Vaerah Vahrokha wrote:
Hello,

Effective today it's possible to get a fast (generally < 24 hours delivery time) loan / bond from me.

Minimum amount is 300M, maximum 10B.
Interest rate is 1.8% for 1 week, 3% for 2 weeks, 4% for 3 weeks, 5% for 1 month.

Loan must have collateral, located at Jita IV CNAP.
In case collateral is in BPOs, collateral must cover 105% of the requested amount. Unless the BPOs are high end, they will be valued as NPC value. This because they also cover the potential interests loss in case of default.
In case collateral is a liquid market item, it must cover 110% of the requested amount.
In case of illiquid items it will have to cover 120% of the requested amount.

In case the ISK is not given back within the next downtime past maturity date, collateral WILL be immediately dumped to market, whatever it is.


What is the point in getting a loan if someone already has collateral worth the amount they want loaned?

yes
Ran Koh
Ministry of War
Amarr Empire
#17 - 2013-01-13 21:43:09 UTC
Can I get a loan against a fitted archon and revelation in lowsec?
Varius Xeral
Doomheim
#18 - 2013-01-13 21:44:54 UTC
Alex Grison wrote:
What is the point in getting a loan if someone already has collateral worth the amount they want loaned?


When the cost of the loan is less than the cost of selling and then later re-acquiring said item.

Official Representative of The Nullsec Zealot Cabal
Vaerah Vahrokha
Vahrokh Consulting
#19 - 2013-01-13 22:12:31 UTC
Ran Koh wrote:
Can I get a loan against a fitted archon and revelation in lowsec?


Sorry, the micro loans service does not have the margins to allow for collateral located in low / null sec.

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Vaerah Vahrokha
Vahrokh Consulting
#20 - 2013-01-28 09:54:38 UTC
10B available.


Also, since I get a number of similar "inappropriate" requests, I feel like adding some clarifications: this is a "quick, comprehensive, relatively small, not very long" loans service.


This has some consequences:

- Collateral cannot be your absurdly illiquid item that sells once a month. I have posted collateral guidelines a lot of times both here and on my website so please review them.

- In particular mode, I won't accept your "I entered frig / cruisers / BC speculation with 7000 identical BPOs and now want to use them as collateral. Nobody told you that BPOs are a cost to factor in for such speculation? That selling hundreds of (bad) researched BPOs is a torture? Well, I am afraid but I am not going to accept those as collateral, the risk to be just traded thousands of BPOs for immediate money is too high.
The scheme, which I have been proposed now a dozen of times, is always the same: convince somebody (me included) to "loan" liquid ISK with no intention of giving it back, giving up the small over-collateral value in exchange of giving away nightmarish amounts of BPOs to sell. In my case all you achieve is to enter my blacklist of beginner wannabe scammers to never help again.

- Due to the quick turnover I can't accept titans as collateral and similar. The optimal loan size is 2-5B, stretching up to 10B.

- I can't accept your Rorqual, Aeon, Nidhoggur and similar, they take time to sell (in case of default), they are hard to move, expecially when you "forget" to mention they are in a now hostile nullsec system or parked in Amamake.

- Optimal loan duration would be 1-2 weeks, stretching up to 2 months. But that's really stretching it.

- I won't loan you 10B at 1.5% for 2 months regardless of how much you pester me about it. Period. The numbers are clearly stated.

- I reserve the undisputable right to decline loan requests, expecially with me moving overseas with all the logistics and connection disruptions involved.

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