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500m 30day Loan @ 12%/24% No collat [Done]
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Barakach
Caldari Provisions
Caldari State
#1 - 2012-04-01 20:42:54 UTC  |  Edited by: Barakach
I'm looking for 500m-600m to help my trading.

Rules
1) Rate of 12%/month. Calculated to the day 0.37847670539523236837424807457% compounded daily. (All final payouts are rounded up to the nearest 0.01isk)
2) May end early for any reason, like Jita burning/etc. Interest will be paid accurate to the day.
3) If payment is late, it will be calculated at a rate of 20%/month for every day after the 30th day, accurate to the day.
4) You may request your money back early, subject to liquidation. You will still get the 20%/month rate if it takes me past the 30th day to pay you back. Someone who requests their money back early, gets priority for pay-backs, first come first serve.
5) Please don't send me money until I send you a response.
(I'm -5gmt so the below )
6) Money must be recieved by 22:00(6pm my time) server time to be counted for the current day, otherwise the interest does not start until the next day.
7) I have until 04:00(11pm my time) server time to pay one back before I have to pay for the next day.
8) Min 50mil (Edit: Changed from 100 to 50)

I can't think of anything else right now.

The "why" part

I am a trader, it's what I do to play eve. I am still new. Even though my account is ~2 year old, I spent a lot of time not playing because of irl money issues. I do a mixture of Station-trading, Region-trading, Hauling, PI, and manufacturing. All of my wealth is liquid or tied up in stuff that I trade, so no collat. This is not speculation and can cover any losses, so I have near 100% confidence of trading not going sour.

Word of Warning: Even though I want my loan filled, Eve is a scammy place.

As much as my word is worth, I claim to payback the best I can.

P.S. I know everyone wants to say how "no collat" won't work, try to keep it to a min and not de-rail. Thanks :-)
Barakach
Caldari Provisions
Caldari State
#2 - 2012-04-02 18:06:18 UTC
I see there have been views, but no posts. Is it entirely the "No Collat"? Do people want more info? Is MD just to scammy right now? Do people want API?

I am a very active trader. I had 4.7bil in my wallet when I re-activated my account a few weeks back and that didn't include my large stash of minerals and P1. I don't "need" 500mil, but it is an amount I feel comfortable working into my normal trading. Heck, I make ~17mil/day doing PI in high sec with 5 planets all in the same system. Paying back the money isn't an issue.

I assume it's a "trust" issue.

Anyway, last posting as I don't want to bump if no one really wants in.

btw, what is the minimal amount of API one normally gives out? I wouldn't want to show too much info.
OllieNorth
Recidivists Incorporated
#3 - 2012-04-02 18:13:57 UTC
Looks like an interesting thing, I guess people are just a little gun-shy right now. If I weren't as broke as I always am, I would probably throw some money in. Minimum amounts accepted?
Jake Andarius
Andarius Trading Corp.
#4 - 2012-04-02 20:24:09 UTC
Looking through your post history, I noticed you have already successfully completed a 300m bond. Successful past bonds can do a lot to interest investors, so you should definitely mention them!

Andarius Trading Corp. | MD Borrowers and Trustees
Lauren Hellfury
Super Happy Awesome Fun Times
#5 - 2012-04-02 20:34:07 UTC
Problem is that 500M covers a plex, combine that with the start of a month and.... yuh, you see where I'm going with this. It ends up looking dodgy. Linking previous efforts are always a plus though

Help rid New Eden of T2 BPOs: ** https://forums.eveonline.com/default.aspx?g=posts&t=62797 **The Full Pocket Aggro blog:  http://fullpocketaggro.blogspot.com/ **Now showing: **Margin Trading Scams
Barakach
Caldari Provisions
Caldari State
#6 - 2012-04-02 20:36:55 UTC
Jake Andarius wrote:
Looking through your post history, I noticed you have already successfully completed a 300m bond. Successful past bonds can do a lot to interest investors, so you should definitely mention them!


Unfortunately, I didn't get my two investors to post that I paid them, so I didn't think it "counted". At least they didn't post "he didn't pay!" :-)
Lauren Hellfury
Super Happy Awesome Fun Times
#7 - 2012-04-02 20:41:01 UTC
tell you what. mail me a link to a screenshot showing open charactersheet (select a tab that doesn't show anything dodgy) and open wallet with the balance, escrow and order amounts visible (sell order total, buy order total) you can blank out the actual sell and buy orders if you like.

So long as it looks reasonable i'll log in and transfer the isk

Help rid New Eden of T2 BPOs: ** https://forums.eveonline.com/default.aspx?g=posts&t=62797 **The Full Pocket Aggro blog:  http://fullpocketaggro.blogspot.com/ **Now showing: **Margin Trading Scams
Barakach
Caldari Provisions
Caldari State
#8 - 2012-04-02 20:48:29 UTC
Lauren Hellfury wrote:
Problem is that 500M covers a plex, combine that with the start of a month and.... yuh, you see where I'm going with this. It ends up looking dodgy. Linking previous efforts are always a plus though


I completely agree. From a human stand point, the 500m lining up with plex value makes it stand out more, but form the logical stand point, I would be better off scamming for more money.

I actually have been having the issue of being spoiled by my corp. They have been funding my loans. I figure I need to start doing MD loans if I ever want to have MD standing since it will look strange if in the future I ask for a 1bil loan with almost no history and even stranger if I ask for a 500m loan when I have 10bil in the wallet.

If I wait too long, no matter what, my actions will look suspicious in the future. I find playing with numbers fun, so making money for others adds a bit more "fun" than just making money for myself.
Lauren Hellfury
Super Happy Awesome Fun Times
#9 - 2012-04-02 20:53:35 UTC
You also have to be careful about exposing yourself to claims of "obvious rep-grind is obvious".


My offer above still stands, the reason I request a screenshot with the details above is because it will substantiate the claim of how much you are trading and links it to your character whilst annonymising what you trade with. The alternative is providing API access to your wallet which you need to be careful of doing because it exposes what you trade and where as well as other things that aren't exactly needed for the amount you are asking for.

Help rid New Eden of T2 BPOs: ** https://forums.eveonline.com/default.aspx?g=posts&t=62797 **The Full Pocket Aggro blog:  http://fullpocketaggro.blogspot.com/ **Now showing: **Margin Trading Scams
Barakach
Caldari Provisions
Caldari State
#10 - 2012-04-02 23:04:03 UTC  |  Edited by: Barakach
Lauren Hellfury wrote:
You also have to be careful about exposing yourself to claims of "obvious rep-grind is obvious".


Technically, I am rep grinding, it's my motivation that separates me and I hope that shows over time.

The one thing I have different over scammers is anyone looking at my API trade history won't see an AFK station trader, but a very active trader+hauler+manufacturer.
Lauren Hellfury
Super Happy Awesome Fun Times
#11 - 2012-04-03 10:53:16 UTC
My isk, your wallet, get jiggy!

Help rid New Eden of T2 BPOs: ** https://forums.eveonline.com/default.aspx?g=posts&t=62797 **The Full Pocket Aggro blog:  http://fullpocketaggro.blogspot.com/ **Now showing: **Margin Trading Scams
Chevalleis
The Scope
Gallente Federation
#12 - 2012-04-03 11:13:50 UTC
The OP must be the most overcomplicated 500m loan evar.
Barakach
Caldari Provisions
Caldari State
#13 - 2012-04-03 12:05:13 UTC
Chevalleis wrote:
The OP must be the most overcomplicated 500m loan evar.


It is just a 12%/month loan but accurate to the day. I was spelling out the exact details so others can re-create the same numbers.

That large decimal number is from this equation, x = 1.12^(1/30) <--- this gives you the compound daily interest to use to get 12% after 30 days.
Lauren Hellfury
Super Happy Awesome Fun Times
#14 - 2012-04-03 12:48:11 UTC
The OP really isn't complicated at all. It is just specific and sets out exactly what both parties can expect.


As a quick aside, I didn't notice the "-600M" part, so there is potentially an extra 100M up for grabs if people want it, or if Barakach prefers I can just send the extra over.

Help rid New Eden of T2 BPOs: ** https://forums.eveonline.com/default.aspx?g=posts&t=62797 **The Full Pocket Aggro blog:  http://fullpocketaggro.blogspot.com/ **Now showing: **Margin Trading Scams
Barakach
Caldari Provisions
Caldari State
#15 - 2012-04-03 13:13:05 UTC
Lauren Hellfury wrote:
The OP really isn't complicated at all. It is just specific and sets out exactly what both parties can expect.


As a quick aside, I didn't notice the "-600M" part, so there is potentially an extra 100M up for grabs if people want it, or if Barakach prefers I can just send the extra over.


The 600m part was in case I ended up with something like 450m and someone else wanted in.

If someone does want in, I will gladly accept up to 100m with a 50m min, but I already have the 500m I was aiming for.
Barakach
Caldari Provisions
Caldari State
#16 - 2012-04-05 19:07:58 UTC  |  Edited by: Barakach
I talked it over with Lauren Hellfury and he has agreed to a minor change in the loan.

I offered him the loan at 10% instead of 12%, but I would match 50% and the matched amount would be forwarded on to Vahrokh's Emergencies Relief Trust (https://gate.eveonline.com/Corporation/Vahrokh's%20Emergencies%20Relief%20Trust).

The new interest rate will be 15%. Lauren has asked that I flip the numbers and give 10% to the Charity and 5% to him.

Current loan will now be 500m @ 15% which is 75mil at the end. Of that 75mil, 50mil will go to the Charity and 25mil + prinipal to Lauren. This assumes a full 30 days, as the loan is accurate to the day as explained above.

I have also talked it over with the Trust's CEO, and they said they will post to confirm the transfer and the amount will also show up in the next balance sheet.

Going forward, I plan on doing similar ideas, where the the option is given to take a marginally lower percentage but with a matched amount from me going to the trust.
Lauren Hellfury
Super Happy Awesome Fun Times
#17 - 2012-04-05 19:12:19 UTC
How could I refuse helping the little kiddies?


Seriously good idea though and something that should really be encouraged. Well done that man!

Help rid New Eden of T2 BPOs: ** https://forums.eveonline.com/default.aspx?g=posts&t=62797 **The Full Pocket Aggro blog:  http://fullpocketaggro.blogspot.com/ **Now showing: **Margin Trading Scams
Vaerah Vahrokha
Vahrokh Consulting
#18 - 2012-04-05 21:53:12 UTC
Thank you both a lot!

I had discussed with Barakach about this idea of him but did not imagine it'd go that well.

Anyway anybody including Barakach who want to send ISK to the charity, please address it to this corporation:

Vahrokh's Emergencies Relief Trust [VAERT]

Be careful to copy and paste the exact name because there are other similar named, extraneous corps.

Please put a description to the donation so I may both post your name as Donor and have a correct balance sheet.

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Barakach
Caldari Provisions
Caldari State
#19 - 2012-04-13 04:25:49 UTC
How long before a thread gets locked for being inactive? I just saw someone "bump to keep from locking". I don't see anything in the forum rules.
Tekota
The Freighter Factory
#20 - 2012-04-13 13:04:02 UTC
Barakach wrote:
How long before a thread gets locked for being inactive? I just saw someone "bump to keep from locking". I don't see anything in the forum rules.


When these were first released last year the auto lock came in rather quick but I think they've changed that to 90 days inactivity now.

Either way, if it does get auto locked a polite report/petition will usually see it unlocked for you should the need arise.
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