I need a few people to help me run my operation. I’m buying a bunch of PLEX and loaning it out and establishing a credit system.
I’m in the process of securing a few thousand PLEX to start my loan sharking business.
All of the figures I’m about to list should be considered arbitrary as this is simply a rough draft of a business model I’m developing, so keep that in mind. The numbers are not concrete.
I plan on loaning PLEX and ISK. I figure if I loan PLEX at the current ISK conversion rate of around 5 million ISK per PLEX I can charge around a 10% weekly interest rate and see a min return of 5.5 million ISK per PLEX, with the potential for higher returns as well.
We will approve loans based upon a multitude of factors. People will submit a loan request and their profile will be reviewed. No alts permitted, consistently active accounts only, and a preference towards those with an established good reputation as well as for those active in the forums will be given. There are additional checks and balances that will be put into place as well.
Since all transaction records will be kept, I will be able to build credit profiles for my clients and their credit scores will be available for everyone to see. The goal here would be to establish a credit score system where eventually I could have other approved lenders and corporations report on the credit of others as well.
If clients fail to pay, their credit will be marked as poor and they will be blacklisted and a perpetual bounty will be placed upon them. Working hand in hand with mercenaries is how I plan on enforcing penalties on those who don’t pay.
Collateral will also be accepted for loans.