Difference between revisions of "Spera Bank Loans and Lending Conditions"

From Republic of Texas
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(Lending to Alliances)
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=== Lending to Alliances ===
 
=== Lending to Alliances ===
Alliance Loans are done on a case-by-case basis. If you are looking for a loan, please get in touch. The interest will never be below 1% and never above 6%. You should assume that it will most likely be somewhere in the middle.
 
  
Loans will also usually be in the region of $50 million to $2 billion.
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{| class="wikitable"
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|-
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! Loan Size !! Requirements !! First Time Client Rate !! Ideal Client Rate !! Exceptional Client Rate !! Trusted Patron Rate
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|-
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| $50 million to $100 million || Top 100 alliance (or you can show us how you will use the loan to get into the Top 100) || 5% - 6.5% || 4.5% - 6% || 4% - 5.5% || 3.5% - 5%
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|-
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| $101 million - $250 million || Top 70 alliance (or you can show us how you will use the loan to get into the Top 70). A cosigner may be provided for alliances who do not fit these requirements. || 4.5% - 6.5%% || 4% - 5.5% || 3.5% - 5% || 3% - 4.5%
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|-
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| $251 million - $500 million || Top 60 alliance. The government must consist of at least 3 people, and at least one government member must be an established nation (over 60 days old). A cosigner may be provided for alliances who do not fit these requirements. || 4% - 6% || 3.5% - 5% || 3% - 4.5% || 2.5%-4% ||
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|-
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| $501 million to $800 million || Top 50 alliance. The government must consist of at least 3 people, and at least one government member must be an established nation (over 60 days old). A cosigner may be provided for alliances who do not fit these requirements.  || Unavailable || 3% - 4.5% || 2.5% - 4% || 2% - 3.5%
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|-
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| $800 million plus || Top 40 alliance. The government must consist of at least 3 people, and at least one government member must be an established nation (over 60 days old). A cosigner may be provided for alliances who do not fit these requirements. || Unavailable || Unavailable || 2% - 3.5% || 1.5% - 3%
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|}
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It is important to note that alliance loans are done on a case-by-case basis, and that these requirements and guidelines are not set in stone. Where it says 'unavailable' some exceptions may be made and some exceptions may be made to not allow alliances to take a loan, even where they seem to fit the requirements. If you have any questions, please do not hesitate to speak to a member of our Senior Management Team.
  
 
=== Deductions and Reductions to Interest Rates ===
 
=== Deductions and Reductions to Interest Rates ===

Revision as of 06:50, 3 March 2020

At, we believe in offering fair loans to everyone. We believe that we have achieved this aim with the loans that we offer. It should be noted that the riskier the loan is for us, the higher the interest rate is. Loans are generally given out for between 2 and 12 weeks. Loans above $300m will be done on a case-by-case basis.

It’s important to note that these are guidelines, but not a rule. Loans will be given out (or not given out) at the sole discretion of bank management and these guidelines may not necessarily preclude you from or enable you to receive a loan.

Lending to Individual Nations

Interest Rates are at the discretion of bank management, however, in the vast majority of cases, they will be within the guidelines shown. If you meet the criteria for one band, you will automatically be eligible for consideration for a loan of any band below.

No Loans are given to nations with fewer than 10 cities that are also under 30 days old.

Each client must make clear how they plan on repaying the loan.

Loan Size Requirements First Time Borrower Rate Ideal Client Rate Exceptional Client Rate Trusted Patron Rate
$10 million - 30 million Minimum of 30 days old. 5% - 7% 5% - 6.5% 4.5% - 6% 4% - 5.5%
$31 million - $50 million Minimum of 30 days old. 5% - 6.5% 4.5% - 6% 4% - 5.5% 3.5% - 4.5%
$51 million - $100 million Minimum of 30 days old. Minimum of 8 cities or a cosigner. 5% - 6% 4% - 5.5% 3.5% - 5% 3%-4%
$101 million to $200 million Minimum of 60 days old. Minimum of 10 cities or a cosigner. 4% - 5% 3.5% - 4.5% 3.5% - 4% 3%
$201 million to $500 million Minimum of 90 days old. Minimum of 12 cities. A cosigner or collateral must be provided for all clients with less than 16 cities. Unavailable 3% - 4% 3% - 3.5% 2.5% - 3%
$500 million plus Minimum of 90 days old. Minimum of 14 cities. A cosigner or collateral must be provided for all clients with less than 18 cities. Unavailable Unavailable 2.5% - 3% 1.5% - 2.5%

Lending to Alliances

Loan Size Requirements First Time Client Rate Ideal Client Rate Exceptional Client Rate Trusted Patron Rate
$50 million to $100 million Top 100 alliance (or you can show us how you will use the loan to get into the Top 100) 5% - 6.5% 4.5% - 6% 4% - 5.5% 3.5% - 5%
$101 million - $250 million Top 70 alliance (or you can show us how you will use the loan to get into the Top 70). A cosigner may be provided for alliances who do not fit these requirements. 4.5% - 6.5%% 4% - 5.5% 3.5% - 5% 3% - 4.5%
$251 million - $500 million Top 60 alliance. The government must consist of at least 3 people, and at least one government member must be an established nation (over 60 days old). A cosigner may be provided for alliances who do not fit these requirements. 4% - 6% 3.5% - 5% 3% - 4.5% 2.5%-4%
$501 million to $800 million Top 50 alliance. The government must consist of at least 3 people, and at least one government member must be an established nation (over 60 days old). A cosigner may be provided for alliances who do not fit these requirements. Unavailable 3% - 4.5% 2.5% - 4% 2% - 3.5%
$800 million plus Top 40 alliance. The government must consist of at least 3 people, and at least one government member must be an established nation (over 60 days old). A cosigner may be provided for alliances who do not fit these requirements. Unavailable Unavailable 2% - 3.5% 1.5% - 3%


It is important to note that alliance loans are done on a case-by-case basis, and that these requirements and guidelines are not set in stone. Where it says 'unavailable' some exceptions may be made and some exceptions may be made to not allow alliances to take a loan, even where they seem to fit the requirements. If you have any questions, please do not hesitate to speak to a member of our Senior Management Team.

Deductions and Reductions to Interest Rates

We offer the following rate deductions:

  • Staff Discount: -0.5%
  • Co-signed by a top 50 alliance: -0.1%
  • Co-signed by a top 10 alliance: -0.25%
  • Your first loan is paid on time: -0.1% (on future loans)

These deductions are stackable.

We also offer a rewards program - please see the 'Tier' page for more information. This is where the real benefits come in!

General Loan Terms

  1. By taking a loan from Spera Bank, you agree to waive your alliance protection and the protection of any organization you might be a part of. We reserve the right to take any action necessary in the event of a default.
  2. Loanees must stay in our server doing the duration of their loan. Leaving the server, without informing the bank and obtaining approval prior to doing so, before paying back the loan shall be considered a default.
  3. In the event a borrowing alliance disbands or gets usurped and defaults on their loan, the government and/or the usurper will be held responsible for the outstanding debt.
  4. Loan installments must be paid on Friday of every week by 23:59 game time. A grace period of 24 hours may be allowed, at the discretion of the bank, however, after that there will be added interest of 1% (compounding) daily. Non-payment for more than 7 days will be considered a default.
  5. Interest is payable every week. So even, for example, you take out a $100m loan at 4% interest and pay it all back in week one, you should still pay $104m total.
  6. For additional terms, please review the Spera SOP Regarding Defaulters and Breach of Terms