Welcome to Bank of America, EcoCityCraft's #1 Source of LoansBank of America is your go-to source for money lending needs! We strive to serve the community with flexible interest rates and repayment durations, as well as the ability to become an investor in the bank itself to collect interest on loans!
Bank of America Team: @CammyBunny & @SirSpuzzy
Bank of America now offers tool rentals! See the spoiler below for more information!
Please note: Any and all information on this page is subject to change at any time. Any information that will affect investors will be reported to them immediately.
Interest from loans is split three ways! 50% of interest is collected by investors, and split among them based on their percent share of invested funds. The remaining 50% is split evenly between the bank and the "security net."
The security net is a fund that is collected over time to help protect investors and the bank in case of a defaulted loan. These funds will be used to cover losses if they occur!Bank of America is now introducing credit! All users start with a base credit of 0, and build credit with the bank by doing business with us! Higher credit scores come with perks like lower interest rates, quick in-game contracts for loans, paying for tool rentals afterwards, and more to come!
Methods of increasing credit:
Individual users' credit will not be publicly available.
- Paying loans early or on-time
- Long term investment with the bank
- Renting and returning tools problem free
- Loans may be approved or denied at the bank's discretion. A user who is well known, responsible, and has the means to pay back a loan has a much higher chance of having their loan request approved!
- Interest rates are determined based on the amount of EcoDollars requested, but this number is negotiable most of the time!
- 20% interest at $50,000+
- 15% interest at $100,000+
- 12% interest at $250,000+
- 10% or lower interest at $500,000+
- Most loans will require a forum contract, however, users that are trusted by the bank may be eligible for an in-game contract!
- Bank of America takes risk management very seriously, as our investors deserve to have their money protected! The bank will not engage in loans or other business ventures that put funds in jeopardy.
- 50% of interested accrued from any given loan is split among investors. The amount each individual investor receives is determined by their percent portion of invested funds. This is clearly labelled on the spreadsheet, and is meticulously kept up to date.
- The interest an investor receives on any given is calculated when the loan is issued, this will not change if an investor withdraws or deposits any funds after the loan is issued.
- Bank of America strives to serve its investors as well as possible. The bank reserves the right to hold deposited funds for 30 days after deposit before they can be withdrawn. However, if an investor would like to withdraw sooner they may, so long as the funds are available.
- If you would like to invest in the bank, please contact @CammyBunny in-game or on the forums!
IGN:
Amount Requested:
Reason for Loan:
How do you plan to earn the funds to repay this loan:
Requested repayment period:
- L3 Rod x4 - 20k/hr, 250k/day
- L3 Hoe x1 - 15k/hr, 200k/day
- L3 Pick x1 - 10k/hr, 150k/day
IGN:
Tool Requested:
Features Owned (Things like repairs, tombstone, pyro):
In the spirit of transparency, all of Bank of America's financial documentation is provided to the public via the spreadsheet below!
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Friendly x 3 -
Potato x 3 -
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Thonk x 1 - List
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Snowzberry TycoonTycoon ⛰️⛰️⛰️
IGN: SnowzBerry
Rank: Mayor
Amount Requested: 173k
Reason for Loan: To become president
How do you plan to earn the funds to repay this loan?: FArming,Fishing
Do you currently owe any other debt, and if so, how much: None
Ideal loan duration: As long as you can make it -
IGN: TheUnrulyAxius
Rank: Resident
Amount Requested: 85,000
Reason for Loan: Promotion to Mayor
How do you plan to earn the funds to repay this loan?: I have a farm that, when worked for a couple days, will provide income of about 1k per 64 stack of Haybales (I can make those per 2 hours)
Do you currently owe any other debt, and if so, how much: None owed.
Ideal loan duration: Willing to pay back the debt at a 2 month contract, accruing interest on a bi-weekly basis. -
IGN: Skiblo
Rank: Resident
Amount Requested: 50,000
Reason for Loan: To pay for mayor
How do you plan to earn the funds to repay this loan?: I will create a town with plots, a shop, and more to create profit.
Do you currently owe any other debt, and if so, how much: None
Ideal loan duration: One month -
Declined. Contact me in game or forum message for more information
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IGN DvL7
Rank President
Amount Requested:600k
Reason for Loan:Buying magic tool
How do you plan to earn the funds to repay this loan?:Magicdays
Do you currently owe any other debt, and if so, how much:No
Ideal loan duration : one month -
IGN: Wallky
Rank: Mayor
Have you been banned previously, and if so, why: No
Amount Requested: $180,000
Reason for Loan: Rank up to president
How do you plan to earn the funds to repay this loan?: Mining and fishing
Do you currently owe any other debt, and if so, how much: I owe $208,000 (Already have all of the money to repay that debt)
Ideal loan duration: 4 weeks -
IGN: Wallky
Rank: President
Have you been banned previously, and if so, why: No
Amount Requested: 520,000
Reason for Loan: Buying features
How do you plan to earn the funds to repay this loan?: Mining, fishing, farming
Do you currently owe any other debt, and if so, how much: I do 150k (For which I have most of the money to repay)
Ideal loan duration: 6 weeks -
I need it before magic day. If you're reviewing this and magic day already started cancel the loan application
IGN: nejcgg
Rank: President
Have you been banned previously, and if so, why: No
Amount Requested: 500,000
Reason for Loan: Attempt to buy a god drop
How do you plan to earn the funds to repay this loan?: Magic day is very soon (I'll play for around 24h) + any magic hours before or after that (Got to mention that I have a L3 rod and a L1 pickaxe so it will be easy to repay)
Do you currently owe any other debt, and if so, how much: 1,300,000 ECD
Ideal loan duration:1 week -
IGN: Terrov
Rank: Resident (By choice, not ready for my town quite yet)
Have you been banned previously, and if so, why: No
Amount Requested: 300,000
Reason for Loan: Upfront payment for Magic Day rented item.
How do you plan to earn the funds to repay this loan?: Fishing on magic day + fishing with star rod afterwards.
Do you currently owe any other debt, and if so, how much: No current debts.
Ideal loan duration: 2 weeks (planning to repay after magic day). -
This application cannot be accepted at this time due to other outstanding debt on the part of the applicant.
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Mythic ⚔️ I ⚔️ ECC Sponsor President ⛰️⛰️ Ex-EcoLegend ⚜️⚜️⚜️⚜️ Prestige ⭐⭐ XI ⭐⭐ Premium Upgrade
IGN: @Mysticgoli123
Rank: President
Have you been banned previously, and if so, why: Yes, long ago for accidental griefing
Amount Requested: 1.8M
Reason for Loan: Buying stars to then buy star melon sword
How do you plan to earn the funds to repay this loan?: Melon farming
Do you currently owe any other debt, and if so, how much: None
Ideal loan duration: 8-12 weeks -
IGN: nejcgg
Rank: President
Have you been banned previously, and if so, why: I did not
Amount Requested: 3.0M
Reason for Loan: The loan will be used as an investment in station11 which is a magic tool renting service. I am constantly looking out for more tools to rent out and I believe this is the best decision to make.
How do you plan to earn the funds to repay this loan?: Fishing with an L3 rod on magic days. And before when I said I would rely on the magic day to pay the 500k loan that was declined, I was successful and played for over 24h as I said I would and I did pay the rest off. I plan to do the same here. I will fish for over 20 hours on both magic days. The dates are stated below.
Do you currently owe any other debt, and if so, how much: 1,42M
Ideal loan duration: This magic day (Sep 29 - Oct 1), then another one aka the one around Oct 14. So technically it would take me 3 weeks and 1-2 days (from when this post was published).
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