Yea dont need it anymore , waited like 2 weeks : (
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Quick update, as it is necessary. Demand for loans has slowed down a lot, and I believe that my own personal funds will likely be sufficient enough to sustain what little is requested. As such, most investors are currently being refunded their balances right now via forum transfer from @SirSpuzzy
@ringthane @ChiGuy133 @Mysticgoli123 @MikeGallegos @S_Bend_To_Blind @Fon_ @xvgwest Thank you all so much for contributing and helping get the bank off the ground :D If at any point in the future I'm ready to re-open investing I will make a post here for it
There is still a loan currently out that the majority of you have a stake in, and that money will be forum transferred to you once it's all paid off. Thanks a lot everyone <3-
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Informative x 1 - List
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After a short hiatus, Bank of America is now offering loans again! Public investors are not currently being taken.
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TexasLowBoost TycoonTycoon ⛰️⛰️⛰️
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IGN: SplayTick
Rank: President
Have you been banned in the last six months: No
Amount Requested: 2,000,000
Reason for Loan: Tool Purchase
How do you plan to earn the funds to repay this loan: Mostly fishing and mining.
Do you currently owe any other debt, and if so, how much: No, N/A
Ideal loan duration: 4 weeks but should be paid sooner. -
IGN: Wallky
Rank: President
Have you been banned in the last six months: No
Amount Requested: 2,000,000
Reason for Loan: Purchase of a L3 rod
How do you plan to earn the funds to repay this loan: Magic
Do you currently owe any other debt, and if so, how much: No
Ideal loan duration: 7 weeks -
Mythic ⚔️ I ⚔️ ECC Sponsor Tycoon ⛰️⛰️⛰️ Ex-EcoLegend ⚜️⚜️⚜️⚜️ Prestige ⭐ I ⭐ Premium Upgrade
IGN: MrMeyerz52
Rank: Mayor
Amount Requested: 600k
Reason for Loan: Upgrade Magic tool to lvl3
How do you plan to earn the funds to repay this loan?: Magic Day
Do you currently owe any other debt, and if so, how much: None
Ideal loan duration: 1 Week -
IGN: patros25
Rank: President
Have you been banned in the last six months: No
Amount Requested: 800k
Reason for Loan: To buy that sweet sweet magic
How do you plan to earn the funds to repay this loan: Mainly fishing with the tool I'm getting the magic for with that loan
Do you currently owe any other debt, and if so, how much: None
Ideal loan duration: 2 months, with option to pay back earlier -
IGN: Gowther32
Rank: EcoLeader
Have you been banned in the last six months: No
Amount Requested: 2,000,000 ECD
Reason for Loan: Purchase of 4 additional town claims to kickstart a build project of mine and to help fund for labor/materials.
How do you plan to earn the funds to repay this loan: Multiple methods to include farming with magic tools (Ive l3 rod and some other l1s for picks and hoes at the moment), selling /magic or smithmaster feat, melon farming, selling magic tools, among others.
Do you currently owe any other debt, and if so, how much: No debts currently owed
Ideal loan duration: 6 months, weekly payments if possible, likely to pay over minimum -
To be totally honest, I think 6 months is way too long on a $2 million loan. The longest I've done I believe is 8 weeks, and that was for a $3 million loan. I'd be willing to do 8 weeks on a $2 million as well but I think that's the longest I'd be comfortable with
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That's workable, haven't done this in a while so not sure what ideal loan durations would be, I'm fine with 8 weeks, tbh I literally took patros loan amount and duration as a baseline and tripled lol
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IGN: patros25
Rank: President
Have you been banned in the last six months: No
Amount Requested: 1.6mil
Reason for Loan: Funds for buying Star Pick from the delightful ImPickles
How do you plan to earn the funds to repay this loan: Magic fishing
Do you currently owe any other debt, and if so, how much: None
Ideal loan duration: 8 Weeks -
trevormcl5 ResidentResident ⛰️ Ex-President ⚒️⚒️
IGN: trevormcl5
Rank: Builder
Have you been banned in the last six months: No
Amount Requested: 5K
Reason for Loan: Would like to apply for resident rank
How do you plan to earn the funds to repay this loan:Farming wheat, and mining to sell.
Do you currently owe any other debt, and if so, how much: No
Ideal loan duration: One week at the max (I work so only have time to play in evening). -
Declined. However i will donate 5k to you. Enjoy the server
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Updates!
- We will no longer require a $50,000 minimum on loans, instead loan amounts will be determined on a case by case basis
- The loan application has been shortened to remove some needless questioning
- Public investing has been re-opened
- Late fees for loans have been removed entirely
- Tool rentals through BoA now available!
- Credit through BoA is now live!
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Due to the new tax system, banks that operate by holding funds from investors are simply not viable anymore, in my opinion. It's very sad that this was done in a way that doesn't keep businesses that hold the funds of others in mind. However, that is how it was done, and I cannot hold funds of others and risk those funds getting exorbitantly taxed just because I happen to be holding multiple peoples' savings at one.
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Agree x 1 - List
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