09-14-2014, 08:53 PM
Is there a rule where a person can lend someone money, But it has to be paid bank within certain amount of weeks?
For example. If 44 has no money and wants 1mil, he can go to the private loan company, Which would automatically have everyone on file like the bank (this would ultimately stop overdraft on the bank and have a negative amount on the loan). 44 comes and withdraws 1 mil loan. until he gets paid. The first week there would be no interest on it. But after the 1 week It would increase by like 250k each time it goes unpaid.
Week 1: 1 mil
Week 2: 1.25mil
Week 3: 1.5 mil
and so on.
On week 4 He would owe the private loan company 1.75mil. Lets say FourFour gets paid 2 mil that week for an article, Instead of the bank giving him 2mil directly the Private Loan Company would automatically take 1.75mil out of 44's bank and into the account on the Private Loan. Thus only giving 44 250k at the end.
Obviously this wouldn't be implemented inside the SHL as it is probably hard enough and time consuming enough for bankers to work with the bank, this is why It would be privately owned.
For example. If 44 has no money and wants 1mil, he can go to the private loan company, Which would automatically have everyone on file like the bank (this would ultimately stop overdraft on the bank and have a negative amount on the loan). 44 comes and withdraws 1 mil loan. until he gets paid. The first week there would be no interest on it. But after the 1 week It would increase by like 250k each time it goes unpaid.
Week 1: 1 mil
Week 2: 1.25mil
Week 3: 1.5 mil
and so on.
On week 4 He would owe the private loan company 1.75mil. Lets say FourFour gets paid 2 mil that week for an article, Instead of the bank giving him 2mil directly the Private Loan Company would automatically take 1.75mil out of 44's bank and into the account on the Private Loan. Thus only giving 44 250k at the end.
Obviously this wouldn't be implemented inside the SHL as it is probably hard enough and time consuming enough for bankers to work with the bank, this is why It would be privately owned.