Joshua Farrell
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Thread Owner
: Joshua Farrell
DBucks Small Loans
This thread is dedicated mainly for those who are looking to open an exchange thread located in the marketplace area, or to request a small loan to be able to claim a withdraw from the forum. Any requests for a loan larger than what I have listed in this thread will be refused service.
PLEASE READ THE ENTIRE TOPIC BEFORE ASKING FOR A LOAN. There are terms you are agreeing to, that you must meet, before a loan will be given.
Thank you.
PLEASE READ THE ENTIRE TOPIC BEFORE ASKING FOR A LOAN. There are terms you are agreeing to, that you must meet, before a loan will be given.
Thank you.
Are you looking to offer exchange services here at Discussion Bucks? If so, then this is for you. This loan service, allows you to claim DBucks for an exchange, where you are expecting quite a bit of DBucks spent to pay people to do stuff for you, and potentially to get the investment back by having others pay you for completion of services. This also can be used to get a withdraw from the forum.
Part of the loan agreement made in this thread, is that you agree to pay back what you got as a loan, back on a scheduled payment plan. Because of the amounts involved, it is expected that you actively get involved with exchanges, to make sure you have the capital to be able to meet the monthly payback requirements, or to pay it back IN FULL.
Requirement(s) Before ANY Loans are Given Out
Before you can request a loan in DBucks from me, you must complete the following. These requirements are a MUST. If you don't complete these tasks, I won't send you the requested loan.
Loan Requirements:
- You are required to have an OPEN exchange topic in any part of the Discussion Bucks Marketplace. This could be anything from offering to post on forums, offering signature space, forum/website affiliate exchanges, posting exchanges, to currency exchanges. Whatever the exchange may be, you must have one listed as an OPEN exchange. An Open Exchange, means that you must be actively still be involved in it, and not be closed.
- You must be registered on the forum, for atleast 30 Days. This length of time ensures that if you are serious about claiming a payout proof, that you have done the minimum work already to get your first proof, or are about to.
- All are required to be paid back with DBucks, and DBucks only. Any negotiations on payment options outside of this, will only be considered if you have a proven record on this forum of paying people promptly for the service you provide, or completing services promptly.
- You are required to make your payments on time. Failure to do so, will result in one of two things happening, based on the failure to make payment:
- Late Fees will be applied to all payment dates, where failure to pay on that date is noted.
- Miss 3 Payment Dates without notifying me in advance that you will not make payment for personal reasons, will result in either a Market Resolution Item that can be bad for you, or further fees and being blacklisted from being provided loans to in the future. The 3 non-payments does not have to be consecutive.
- You agree to communicate with me if you are having issues in life that will prevent payment. Failure to not tell me, is no reason to get angry at me, when I do message you asking for payment. By messaging me before hand, I will likely be more lenient towards not applying fees, and adjusting the payment schedule.
Payback Options
The following are options that can be used to pay your DBucks Loan back.
Payback Option: DBucks
The direct link to the donation tab with my username already filled out to pay back in DBucks, is https://discussionbucks.com/dbtech-credits/currency/d-bucks.2/?user_id=23&tab=donate
Once on that page, the first thing you will need to do, is fill in the balance you are paying back, per the payment period minimums and any extra above it you want to pay. Then fill out the message to include "DBucks Loan Payment".
Loan Amounts Available
Loan Minimum Request: 1.00 DBucks
Loan Maximum Request: 10.00 DBucks
Loan Fees and Payment Plans
Loan Payment Schedule Type: Standard Loan Schedule
Standard Loan Schedule Definition: A set schedule with a flat rate to pay back regardless of principle balance to pay back, due to the Loan Fee added to the start of the loan.
Start of Loan Fee: 2 times loan value.
This fee is the fee that is added to the total upon the loan being given. This is a required amount that has to be paid back with your original loan.
Term of Loan Payback 1 Month to 6 Months
First Payment Date: Based on Frequency of Payment
Payment Frequency: Weekly, Bi-Weekly (every 2 Weeks), Semi-Monthly (every 15 days), Monthly (The same day of each month).
Last Payment Date: The last day you pay on.
Late AND Non-Payment Fees: $1.25 DBucks (Separate Fees)
The Late and Non-Payment Fees, are two separate fees, but valued at the same amount. If you are late in paying (example being like 3 days past your payment due date), you get billed $2.5 DBucks. 1.25, for not making a payment on the date you are supposed to, and $1.25 for paying after the date. These two will be added on separately to your total as separate fees.
Early Payment Processing Fee: $0.25 DBucks
The Early Payment Processing Fee, is there to just make sure you don't rush into paying early. It is a relatively small amount, but this is in the hopes that you pay on the date you are supposed to pay on.
3 Missed Payments Fee: 50% of original loan with start of loan fee, added to the balance.
Extra Information
If you got this far and want to take out a loan with the updated information above, please note the following: It is cheaper to pay back your loan without missing a payment date. If you have issues, please send me a message BEFORE you go missing and not pay me.
Since I updated how the loan process works a bit, and I didn't give much info out on the last thread, I'll make this simple on how payments are calculated.
Essentially it boils down to the following:
1. I take the loan you want, plus the fee, and enter it into a personal file I have that calculates payment dates and values. The fee in the following screenshot example, is listed as part of the loan amount you would pay back.
2. I then enter the length of time the loan is being paid back, whether it is a 1 month loan or up to 6 months.
3. Once the above step is put in, I enter into my file how frequent you want to pay the loan back. This could be anywhere from weekly, to Bi-Weekly (every 2 Weeks), Semi-Monthly (every 15 days) or Monthly (The same day of each month).
4. Once I put in all of that info into the file, it generates a payment value that has to be paid by the frequency of payment you want to pay by.
So a $10 DBucks loan with a 6 month, monthly payment plan looks like screenshot 1. The same loan paid off on time to the end, looks like screenshot 2.
I did not provide what it looks like if someone did not pay, or missed the date and paid a few days later past the due date. But lets assume that using the screenshots below, the balance to be paid off would increase by the late and non-payment fees.
Screenshot 1:
Screenshot 2:
Loan Request Form REQUIRED to Fill Out
*MUST BE FILLED IN COMPLETELY*
Code:
Loaned Amount Wanted:
Length of Term to Pay Back:
Payment Frequency: (Pick from list above)
Do you understand that if you fail to pay by the specific date of your payment frequency, you will end up paying more?
Answer: (yes or no)
Do you have a currently active exchange thread in one of the Marketplace Boards? If so, provide a link.
Marketplace Link:
Do you understand that you are required to communicate with me, if you have issues with being able to pay by your payment dates?
Answer:Thank you for consideration in using this service!
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