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[Bond 1] 1B @ 20% Interest, 10 Day Duration (Completed)
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Colonel Tosh
The MorningStar. Syndicate
#1 - 2012-09-13 19:16:14 UTC  |  Edited by: Colonel Tosh
First time loan request. Not going big, just looking to build a reputation. I recently started a fourth location for purchasing and I am running a little thin on my available NAV without having to run a freighter around some 50 jumps every day.

I just need a loan for 10 days to cover me till I can sell a perfect mining character on the Character Bazaar. Due to this I am willing to pay a decent interest rate.

Amount: 1B
Interest: 20% (200M)
Collateral: None
Duration: 10 days (estimated repayment date of 23 September)
Minimum Investment: 250M

I request the ability to pay back sooner. Interest will still be calculated as if the loan had gone the full duration.

A little about me...
I am a trader who procures and moves ores and minerals. Twice a day playing the .01 Isk game. With Margin Trader 4, I usually run 6B in total Buy Orders (1.5 Escrow, 4.5B to cover). My estimated Isk value is 3.5B with additional liquidity in a Freighter (1.8B) and Command Ship (280M). I currently am building standing in high sec and eventually plan to start a POS. After which I will jump into the manufacturing business (i.e. another loan potential).
Veronique Vynneve
EAT ATTiC
#2 - 2012-09-13 21:44:17 UTC
Collateral information?
Colonel Tosh
The MorningStar. Syndicate
#3 - 2012-09-13 22:02:31 UTC
There is no collateral, sense all I really have is a Providence and a Damnation. I am surprised how hard it is to get a loan. I didn't think the loan system was scammed that often. I want to build a positive reputation, and this is a start.
Barakach
Caldari Provisions
Caldari State
#4 - 2012-09-13 22:06:01 UTC
Colonel Tosh wrote:
There is no collateral, sense all I really have is a Providence and a Damnation. I am surprised how hard it is to get a loan. I didn't think the loan system was scammed that often. I want to build a positive reputation, and this is a start.


1b loan is more than a "start"
Darrien Hawkins
Doomheim
#5 - 2012-09-13 22:12:34 UTC
I know how much of a pain it can be to get a first bond on these forums. My first one failed miserably.

Some tips:

1. From what i've seen, the first bond is usually collateralized before anyone will take you seriously. If you have collateral (the freighter maybe?) get in touch with Vaerah Vahrokha; he is well-known and trusted in the Market Discussion section. Take a look at some of the information on his website.

2. 20% interest is very very high for a ten day loan. You may think that this is compensating for you being a risky investment (and it does, to some extent; someone may be along and give you a chance). On the other hand, from the investor perspective, no interest rate may be high enough, since the risk is effectively 100%.

3. Information is good; investors don't like throwing money down a black hole and watching more money pop out. You may be hesitant like I was to give information to potential investors, but the chances are pretty good they don't have the time/desire to try and take over whatever niche you are exploiting. I think that JohnathanGalt sends detailed reports to his investors:

https://forums.eveonline.com/default.aspx?g=posts&t=141731&find=unread

You should take a look at his bond, since it sounds like he may be doing something similar to you.


I wish you the best of luck with your bond; don't be discouraged if it doesn't turn out like you would hope. At least you're getting responses. I got the cold shoulder from the entirety of MD on my first bond!
Colonel Tosh
The MorningStar. Syndicate
#6 - 2012-09-13 22:23:46 UTC  |  Edited by: Colonel Tosh
Thank you Darrien for the positive response.

I debated doing a bond or not. It would just be nice to not have to haul 1.5B worth of minerals and ore to sale everyday (but I am retired so nothing else to do).

Barakach may be right this might not be small, but that's all prospectively. I just figured if I want to try for a larger one later when I start up manufacturing I might want to start somewhere.
Makro SSRI
The Grey Eagles
#7 - 2012-09-13 22:54:20 UTC
1b sent.
Colonel Tosh
The MorningStar. Syndicate
#8 - 2012-09-13 22:55:21 UTC
Makro SSRI wrote:
1b sent.


Confirmed. Repayment and interest guaranteed by 23 September. Thank you for the help.
Colonel Tosh
The MorningStar. Syndicate
#9 - 2012-09-16 20:03:41 UTC
Had a wonderful weekend or trading. Made enough to secure my repayment and not have to worry about being margin called.

Repayment sent with interest.

Nice doing business with you Makro SSRI.
Hrothgar Nilsson
#10 - 2012-09-16 22:13:08 UTC
Darrien Hawkins wrote:
2. 20% interest is very very high for a ten day loan. You may think that this is compensating for you being a risky investment (and it does, to some extent; someone may be along and give you a chance). On the other hand, from the investor perspective, no interest rate may be high enough, since the risk is effectively 100%.

Not especially. A 1bil loan with 200mil paid in interest after 10 days - he ought to be able to make at least 200 million ISK per day station trading.

I've... seen things you people wouldn't believe...

Attack ships on fire off the shoulder of Orion...
Makro SSRI
The Grey Eagles
#11 - 2012-09-16 22:43:59 UTC
Confirming early repayment of principal and interest, pleasure doing business with you!
Darrien Hawkins
Doomheim
#12 - 2012-09-17 01:17:42 UTC
Hrothgar Nilsson wrote:
Darrien Hawkins wrote:
2. 20% interest is very very high for a ten day loan. You may think that this is compensating for you being a risky investment (and it does, to some extent; someone may be along and give you a chance). On the other hand, from the investor perspective, no interest rate may be high enough, since the risk is effectively 100%.

Not especially. A 1bil loan with 200mil paid in interest after 10 days - he ought to be able to make at least 200 million ISK per day station trading.


If you take a look at other uncollateralized loans on MD, the going rate is very low in comparison to his advertised rate; anywhere from 9-11% for 30 days. I was comparing his offered rate to the offered rates of other uncollateralized offerings here on MD. The point I was trying to make was that if the investor doesn't think you are going to pay the isk back, no interest rate will be high enough.