Graceful Loans

Subject: Graceful Loans Tue May 07, 2019 3:14 pm

!Graceful Loans!

Low on PED and can't wait til payday? No Problem!
With Graceful Loans you can take out loans with the LOWEST interest rates to supply your hunting or purchasing needs!

The Service:

Graceful Loans operates as a pawn shop, wherein you trade items as a deposit amounting to the number of PED you wish to loan,
For example for a 10PED loan, you need to trade in 10PED worth of tt goods as collateral,
The loan is set for a maximum of 30 days and cannot be extended beyond this point, however if you wish to purchase your gear back early no additional fees will be added, if the loan amount + interest is not paid within the 30 day time period the deposited goods will be sold as collateral.

The interest rate is currently 1% meaning that for a 10PED loan the price to purchase your gear back will be 10.10PED,
These interest rates may be subject to change in the future,

Loan amount: Currently the loan amounts available are anywhere inbetween 10PED-50PED requests for loans exceeding either value will be
declined at this time.

All loans will be accurately documented including: Avatar name, date/time, Location, Loan amount, Pawned goods.

Thank You for choosing Graceful Loans!

Subject: Re: Graceful Loans Wed May 08, 2019 7:48 am

GL with that Grace, I hope it's in compliance with the EULA Wink

Just some few things I want to get off my mind regarding this:

- be very very vary when accepting some MU on stuff, this might be manipulated / hard or impossible to sell at!

- make sure you document trades with screenshots , best clearly showing current date / in / out in case somebody tries to scam you / spread negativity etc. Might also be wise to enable chat logging in options.

- maybe put up some minimum fee to make it worth your while, like "1%, minimum 0.50 PED" (just an example)

- maybe advertize it not as Pawn Shop, but as a help for noobies who wanna sell their low-MU stackables. Like, they usually tt their oil XY since it only has 102%. Now since you ask only 1%, and they can get cash for their small stacks while you keep stacking up their oil, at a time when they have so many oil with you that it's worth selling even for 1%, they can buy it back, thus effectively sharing the 2% MU between them and you (each getting 1%). Just an example and idea. This would mean you would need to extend the time you loan as well as the amount of money you are willing/able to tie up in their stacks.

- have some clearly documented loan period, like "given items will fall into my posession on day XY after giving out the loan", and extend this by a (sic) grace period of say 14 days to be sure. read this

- expect to have a lot of shit being thrown at you since people will suspect a scamming attempt until you have made some reputation in game

- expect to get a lot of tedious and boring stuff to do

- increase the amount of cash you wanna invest in this so you aren't broke after the first 10 customers Wink

Or start trading in the usual way first to build up some money, buying cheap small stacks and selling them for a proper MU later. Keep in mind that all trading money will basically be "gone" until you get it back so make sure you can "live" during the time too.

As said, just some ideas I wanted to get rid of. Might add more when something pops up again...

Don't feel discouraged!

All the best,

mom

PS this is in the members-only part of the forum. If you want to give your customers a link, you'll have to put this up in the newly created Services section