2 Billion loan collaterized 5 month payment

(Geo Eclipse Oksaras) #1

I will be giving @Hellior_Lennelluc a 2 Billion Isk Loan for 990 mil collateral at 2% Interest for 5 months.

Updated for increased collateral and loan.

(Hellior Lennelluc) #2

Still at work, be home in 2 hours if you r still on

(Geo Eclipse Oksaras) #3

yea i’ll probably still be awake… I got home early.

Edit: Received 505 mil in collateral, and in exchange given 1 Bill isk.
First payment Due Oct 19 for 220mil.

(Brock Khans) #4

2% of 1b is 20m. Did you mean to say this 22% monthly ? If that’s the case you are ripping this guy off

(Geo Eclipse Oksaras) #5

The repayment is 200 mil. The interest is the 20 mil.

I’m ripping him off? I offered to loan him 1 bil for only half the collateral.

(Brock Khans) #6

Very odd loan paying off 200m a month + interest

(Geo Eclipse Oksaras) #7

I could be doing it wrong, hell its the first time i’ve loaned someone money, But i was looking at other topics and I thought on top of the payment people were charging interest for the loans.

my thinking is, i’ll get the 1 bil back plus 100 mil on top of it

im not looking to cheat anyone, if im doing something wrong, i’ll take advice to make it right.

(Brock Khans) #8

This is just my opinion. But making him pay back 1/5 of the loan each month really means he isn’t taking a 1bil loan. Hes taking a new gimped loan every month because he has to pay back a large majority. By month 5 he only has 200m to work with, which he won’t be able to accomplish much with.

The point of a collateralized loan is you are fine just receiving the interest payment each month, in this case 20mil. Because if they run off with the isk, you still have your value in the collateral.

On another note, the fact that they are paying the loan back in large sums each month means that at month 5 when he has paid you back 100%, you could walk off with his collateral and make an additional 500m because you have received your full loan refunded.

(Geo Eclipse Oksaras) #9

Ah I see.

(Solonius Rex) #10

No need to worrry, its probably a scam.

(Hellior Lennelluc) #11

No it’s fine guys. He has been very helpful. But yea I see the full picture. We are working it out! Thanks for the input tho. First time I’m doing a loan as well

(Geo Eclipse Oksaras) #12

updated first post… 2 Bil loan and 990 mil total in collateral. Payments are 40 mil a month.

(Hellior Lennelluc) #13

I’m ready to pay back all of the loan now if you need me too… I have a lot more in assets and looking for a bigger loan. R u willing to do 10bil or should I go to the forums?

(Geo Eclipse Oksaras) #14

Forums. I dont have that much.

(Hellior Lennelluc) #15

Ok no problem, looking it send your loan back to you tonight, if you want to contract my stuff to me, and set it for 2.2bil and I’ll get that to you after I’m done with work

(Geo Eclipse Oksaras) #16

Contract Sent back with a est price of 985 mil in return for 2.2 Bil.

(Hellior Lennelluc) #17

Paid in full. Thanks for helping get me started in trading.

(system) #18

This topic was automatically closed 90 days after the last reply. New replies are no longer allowed.