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Author Topic: Seeking $5k (USD) personal loan -- pays 2.25% every 32 days (96D commitment)  (Read 1239 times)
Kluge
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April 10, 2012, 03:35:45 AM
 #1

Personal loan. I would like a 96D commitment. Minimum amount per individual lender = $500. Pays 2% every 32 days. I reserve the right to pay off principal + interest at any time prior (assuming it isn't the due date, in which case I must pay). However, if I pay early, the full amount of interest will be paid. Payment will only be accepted in DwollaUSD or GoxUSD. Paypal can be too-easily reversed, wires are expensive, and ACH transfers & checks take too long. However, if you want to do checks or ACH, that's acceptable so long as it's understood the start date doesn't occur until I have the money in Dwolla. If I left a payment method out which you're interested in, PM me and I'll take a look.

PM me if interested. ID & utility bill can be provided, but I'm too cheap & lazy to get a promissory note (unless you take out the full amount, perhaps). I'll send you an agreement via email if you'd like, however.

Example: Send me $1k GoxUSD. On 32nd day, I pay you $20. On 64th day, I pay you $20. On 71st day, I decide it's a good time to pay the loan off and send you $1020 to close the loan.



-- If there are no bumps and I make a fair sum off the loan money, I'll send extra. Otherwise, I'll just pay you what's owed, which is still a pretty solid rate for a USD loan.


Cheers,

Ben

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brendio
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April 10, 2012, 04:21:10 AM
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I'm potentially interested. However, all my MtGox USD funds will be required for an upcoming trade, so I currently have no funds to lend.

Watching ...

Kluge
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April 11, 2012, 04:58:27 PM
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Bump. Now offering 2.25% every 32 days with 96D commitment.

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April 22, 2012, 09:35:06 PM
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still looking for this?

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April 22, 2012, 09:50:18 PM
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What's to stop you spending the money on glbse and such, making a nice profit?
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April 22, 2012, 10:07:26 PM
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What's to stop you spending the money on glbse and such, making a nice profit?

a) That's none of your business.
b) GLBSE deals in bitcoins, which adds exchange rate volatility to the list of concerns.
c) Many assets on GLBSE are risky. Kluge abstracts this risk giving you a predictable payoff.
Kluge
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April 23, 2012, 06:14:53 AM
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What's to stop you spending the money on glbse and such, making a nice profit?

If it wasn't obvious, I fully intend to use this loan to arb -- was intending to take half the loan, put it toward USD loans within the community, other half goes toward BTC loans and GLBSE. I do not like tying up money, but am willing to insure calculated risks against loss, and that's effectively what this deal is -- I take on the currency risk of converting half the USD to BTC, as well as the risks that come with re-lending or otherwise investing the money. There are many ways this deal could go sour for me, but I've looked at the risks and think it's wroth it. The only way the deal could go sour for the lender in this case is if I default. It's not as if the lender being repaid is contingent on my gains or losses.

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Kluge
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April 23, 2012, 01:56:31 PM
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$2k fulfilled.

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