The Cirrus Bank: NOW OFFERING CONSULTING!

[Ashland]

Withdrawal/Deposit Amount: $500,000

Thank you for your business.

[Ben Maxwell]

So interest for each period will be compounded from whatever I borrowed (1 650 000 $$$) or from whatever I'm left to pay you (say 1 500 000$$$ if I paid 150k in first installment)? If it's the latter then I agree (it's not as good as 5% flat with penalties for not meeting payday, but it's still good) and... show me the money!

[Ashland]

So interest for each period will be compounded from whatever I borrowed (1 650 000 $$$) or from whatever I'm left to pay you (say 1 500 000$$$ if I paid 150k in first installment)? If it's the latter then I agree (it's not as good as 5% flat with penalties for not meeting payday, but it's still good) and... show me the money!

I made a mistake.  I can only offer you 6.7% interest.  I'm sorry for the error and I understand if this will impact your decision.

Edited December 8, 2014 by Ashland

[Ben Maxwell]

I made a mistake.  I can only offer you 6.7% interest.  I'm sorry for the error and I understand if this will impact your decision.

 

Accept.

[Ashland]

Mispost.  If a mod sees this, delete it.

Edited December 8, 2014 by Ashland

[Shellhound]

Going to be withdrawing my application, going to be quite busy over the coming weeks and I'm not sure I'll be able to dedicate the time I want to this. Good luck Ash!

[Ashland]

Going to be withdrawing my application, going to be quite busy over the coming weeks and I'm not sure I'll be able to dedicate the time I want to this. Good luck Ash!

Perfectly understandable.  And thanks.

[stealthfox2]

Nation Name: Listrata

Alliance Name: United Nations

Credit References:

Guarantor(s): Dusty Bottoms

Daily After-Cost Revenue: 27,658

Did Someone Refer You To Us?  If so, Who: Dusty Bottoms

Amount you would like to borrow: 15,000

What Is Your Investment Plan: small loan that i know i can pay back, to improve my infrastructure.

 

I, Listrata, agree to the following if I choose to accept a loan from the Cirrus Bank:
-Pay all interest associated
-Repay the principal
-Act in good faith to repay all my debts and refrain from misrepresenting my intentions or history.

I also give the Cirrus Bank, or whoever may hold my debt in the future, the right to reclaim my debt through the use of force.  I agree to inform any alliance I may join while holding this debt of this arrangement.

[Sin]

i wonder how someone came up with the idea to grant loans in this game

Edited December 10, 2014 by Sin

[Ashland]

i wonder how someone came up with the idea to grant loans in this game

Whoever it was they must have been very smart... and handsome.

[Destroyer]

Just asking, how much base income you're going to pay for the above^^ jobs?

[Ashland]

Just asking, how much base income you're going to pay for the above^^ jobs?

It will depend largely on the ability of whoever I hire, but for right now the Insurance Coordinator will likely be paid $30,000 a week as a base salary, plus 5% of the premiums of any plans they administer to and 2.5% of the premiums of any plans that they sold.  So if they sold 1,000,000 dollars worth in insurance premiums and then administered to those plans, every week they would get $30k plus $75k as long as those plans stay with us.  You'd also get a one-time bonus each time you sell a plan equal to 5% of the first week's premium.  You essentially get the lion's share of the actual profit off of any plans you sell and administer to in exchange for the time and effort you put into selling and maintaining them.

 

The Investment Officer/Financial Consultant's pay will be more salary-based.  Probably closer to 50-75k a week.  There will be an incentivization scheme to seek out new investments and loans depending on what's needed most at the time.  With loans, a percentage of the interest on the loan that they sought a debtor for will be added to an account in their name every payment period.  Interest on this amount will compound weekly just like any other investment.  When the loan is paid off, they get whatever is in the account for that loan.  With investments, they are going to be paid a percentage of whatever investments they attracted to Cirrus each week that are still there.  As the investments they attracted grow, the amount of money that they get will also grow.

 

I hope that helps.

 

As PnW becomes larger and the community grows, I envision Cirrus growing at a fairly similar rate.  It will eventually be necessary to have even more people to ease the administrative burden and perform services I'd like to offer in the future.  Part of why I'm offering these positions, is that I'd like to hire some people in order to groom them for command, as it were, in the future.  In time, as Cirrus grows, the people who I accept into these positions would, in all likelihood, have people working under them.  At that point their weekly salary would increase and the portion of their pay that comes from a commission-like structure would decrease.

Edited December 10, 2014 by Ashland

[Greene]

Ashland;

 

Per our conversation on IRC, I need for you to add Grewal as a signatory on the Celestial Union account, starting tomorrow. He is our new Chancellor for Prosperity, and I need for him to have complete access to the CU's assets.

[Ashland]

Ashland;

 

Per our conversation on IRC, I need for you to add Grewal as a signatory on the Celestial Union account, starting tomorrow. He is our new Chancellor for Prosperity, and I need for him to have complete access to the CU's assets.

Acknowledged.

[Wiliam]

Nation Name: Cymru

Alliance Name: Brothorhood of the Clouds

Credit References:

Guarantor(s): (Nation(s) or Alliance(s)) -For Any nations under 15 days in age, this is mandatory. For all else it is not mandatory but will reduce your interest rate. 

Daily After-Cost Revenue: $143,000

Did Someone Refer You To Us? If so, Who:

Amount you would like to borrow: $1,000,000

What Is Your Investment Plan: Build 5th City
 

I, Cymru, agree to the following if I choose to accept a loan from the Cirrus Bank:
-Pay all interest associated
-Repay the principal
-Act in good faith to repay all my debts and refrain from misrepresenting my intentions or history.

I also give the Cirrus Bank, or whoever may hold my debt in the future, the right to reclaim my debt through the use of force.  I agree to inform any alliance I may join while holding this debt of this arrangement.

Edited December 11, 2014 by Wiliam

[Tiggera]

Nation Name:The United Kingdom

Alliance Name:The European Empire

Credit References: N/A

Guarantor(s): (Nation(s) or Alliance(s)) -For Any nations under 15 days in age, this is mandatory. For all else it is not mandatory but will reduce your interest rate.N/A

Daily After-Cost Revenue: (We reserve the right to ask for a screenshot of your Revenue page)

Did Someone Refer You To Us? If so, Who:

Amount you would like to borrow:5,000,000

What Is Your Investment Plan: (this is not mandatory, but a sound investment plan will make your loan appear less risky to the Bank) New city and infrastructure

 

I,The United Kingdom, agree to the following if I choose to accept a loan from the Cirrus Bank:

-Pay all interest associated

-Repay the principal

-Act in good faith to repay all my debts and refrain from misrepresenting my intentions or history.

 

I also give the Cirrus Bank, or whoever may hold my debt in the future, the right to reclaim my debt through the use of force. I agree to inform any alliance I may join while holding this debt of this arrangement.

[Ashland]

Nation Name:The United Kingdom

Alliance Name:The European Empire

Credit References: N/A

Guarantor(s): (Nation(s) or Alliance(s)) -For Any nations under 15 days in age, this is mandatory. For all else it is not mandatory but will reduce your interest rate.N/A

Daily After-Cost Revenue: (We reserve the right to ask for a screenshot of your Revenue page)

Did Someone Refer You To Us? If so, Who:

Amount you would like to borrow:5,000,000

What Is Your Investment Plan: (this is not mandatory, but a sound investment plan will make your loan appear less risky to the Bank) New city and infrastructure

 

I,The United Kingdom, agree to the following if I choose to accept a loan from the Cirrus Bank:

-Pay all interest associated

-Repay the principal

-Act in good faith to repay all my debts and refrain from misrepresenting my intentions or history.

 

I also give the Cirrus Bank, or whoever may hold my debt in the future, the right to reclaim my debt through the use of force. I agree to inform any alliance I may join while holding this debt of this arrangement.

Approved.  Let's go with 6.5%.  Sound good?

[Grillick]

Nation Name: Grillichnya
Alliance Name: Green Protection Agency
Credit References: Who needs references?
Guarantor(s): (Nation(s) or Alliance(s)) -For Any nations under 15 days in age, this is mandatory. For all else it is not mandatory but will reduce your interest rate.N/A
Daily After-Cost Revenue: $1,092,954.93
Did Someone Refer You To Us? If so, Who: Just you.
Amount you would like to borrow: 1,000,000
What Is Your Investment Plan: [Classified]

I, Grillichnya, agree to the following if I choose to accept a loan from the Cirrus Bank:
-Pay all interest associated
-Repay the principal
-Act in good faith to repay all my debts and refrain from misrepresenting my intentions or history.

I also give the Cirrus Bank, or whoever may hold my debt in the future, the right to reclaim my debt through the use of force. I agree to inform any alliance I may join while holding this debt of this arrangement.

[Greene]

Alliance Application:

Alliance Name: Celestial Union
Link to Alliance Membership: https://politicsandwar.com/alliance/id=770
List of Members You'd like to be Insured: Joshua Granger, Grewal, Tony Stark
Would You Like to Insure the Alliance Bank As Well? yes

 

I need to terminate the insurance that the Celestial Union is paying for Tomoya, as he is no longer a member of the CU's government (or of the CU at all for that matter).

The CU will foot the bill for these three policies as they are CU government.

[Dusty Bottoms]

Nation Name: Even Newer Brasil

Alliance Name: United Nations

Credit References:  None

Guarantor(s): (Nation(s) or Alliance(s)) - None

Daily After-Cost Revenue: ($28,128.00)

Did Someone Refer You To Us?  If so, Who: Nope.

Amount you would like to borrow: $750,000

What Is Your Investment Plan: I will use this money to buy more infrastructure for my third city.
 

I, (Even Newer Brasil), agree to the following if I choose to accept a loan from the Cirrus Bank:
-Pay all interest associated
-Repay the principal
-Act in good faith to repay all my debts and refrain from misrepresenting my intentions or history.

I also give the Cirrus Bank, or whoever may hold my debt in the future, the right to reclaim my debt through the use of force.  I agree to inform any alliance I may join while holding this debt of this arrangement.

Edited December 12, 2014 by Dusty Bottoms

[Tiggera]

Approved.  Let's go with 6.5%.  Sound good?

yea, I agree

[Fukuda Kazuma]

Just a question.Basically what will happen if I apply for a loan.Forgive me if I sound dumb,just in a bit of a hurry today.

[Ashland]

Just a question.Basically what will happen if I apply for a loan.Forgive me if I sound dumb,just in a bit of a hurry today.

It works in four-day periods.  Interest is compounded at the beginning of the first period and the beginning of every other period thereafter (having interest compound immediately is a necessary evil to prevent people from taking out a loan and paying it back after three days with no interest; that actually costs me money).  Payment is due at the end of every four day period.

 

The minimum period payment is half of the interest that was accrued that period.  Obviously it is highly recommended to pay at least the interest that was accrued that period if not more.

[Fukuda Kazuma]

Last question.How is payment actually made and is the intrest daily,weekly or something?Again forgive me if I sound idiotic.I'm just kind of new here.

Edited December 12, 2014 by Zafrizackery

[Ashland]

I addressed both of those questions.