H&S, If you need money now, and are pretty sure you will have enough soon, May I suggest you borrow some?
Considering your financial situation, I could approve you for a very short term fixed rate loan of 2 guineas, or a medium term 3 guineas loan. Let me draft a couple of contracts, if you are interested.
Note that the short term contract can be terminated early, sparing you from having to pay further interest. The extra months included in the contract are purely for your financial safety in case something happens that makes you unable to repay next month.
To Queen Phillipa the Fourth,
We, the undersigned Sharks & Loans, agree to transfer 2 guineas to the undersigned company, Hearth and Securities Inc.
This amount will incur into a monthly interest of 10% of the initial sum. The initial sum will need to be repaid in full after 3 months. The loan can be extinguished early by the debtor, paying only the initial sum and the interest due up to that point. Failure to pay interests or to provide the full initial sum at the end will cause expropriation of assets for at least equal value.
In consideration of the cyclical nature of trade, it is agreed that interest payments can be suspended for up to 3 months. The amount due will still need to be paid either immediately or spread across the rest of the loan. No further suspension can be awarded until there is no longer outstanding suspended interest.
Signed: Shark & Loans
To Queen Phillipa the Fourth,
We, the undersigned Sharks & Loans, agree to transfer 3 guineas to the undersigned company, Hearth and Securities Inc.
This amount will incur into a monthly interest of 10% of the initial sum. The initial sum will need to be repaid in full after 6 months. Failure to pay interests or to provide the full initial sum at the end will cause expropriation of assets for at least equal value.
In consideration of the cyclical nature of trade, it is agreed that interest payments can be suspended for up to 3 months. The amount due will still need to be paid either immediately or spread across the rest of the loan. No further suspension can be awarded until there is no longer outstanding suspended interest.
Signed: Shark & Loans
Furthermore, I would like to introduce a new kind of loan: the shares backed loan. In this kind of contract, rather than paying an interest you transfer me the profits of your shares until you repay the loan, while keeping voting control.
To Queen Phillipa the Fourth,
We, the undersigned Sharks & Loans, agree to transfer X guineas to the undersigned company, Y for the purpose of buying shares in the ship or enterprise Z.
The profits of the shares bought will belong to Shark & Loans until the debt has been repaid, while Y retains voting control. Y can extinguish the debt at any time, up to the maximum term of 6 months, at which points the ownership of the shares is forfeit and they will be permanently transfered to Sharks & Loans. In case the debt is repaid during a trip, the money due to Shark & Loans is a share of the estimated journey profit equal to the share of time elapsed in the journey at the time of repayment. ( example: if you redeem your shares at 1/3 of the journey, you need to pay 1/3 of the expected profit)
Signed:
Of course, needless to say but this is a good time for anyone to request a loan at your friendly neighborhood banking corporation.
edit: thanks for the assist, Kashyyk
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Topic: Risky Ventures! - Year 2 Autumnwake - I need to sink more boats (Read 30747 times)