Admin Loan Service -- Need a Loan? Come to the Admins! (in Services)

SNK3R August 30 2007 12:52 AM EDT

Need a loan? Want a trust-worthy person that you know who won't bail on you? You've come to the right place.

Brought to you by the administrator's of Carnage Blender 2 is a loan service that will, hopefully, benefit the community as a whole. By taking a loan out with us, any profit created from interest will go towards hosting additional Admin-related contests as well as fund prizes/money for Tournaments. Want better prizes for your contests and Tournaments? Take a loan out with us!

I have created a character called Admin Loans on my account. Loans will be given through the money on the character. The money on the character comes from repo'd stuff from bans/resets, which will be used to offer the community loans.

Interested in taking a loan out with us? Post here, ChatMail me, or catch me in chat. Before you do, though, please be sure to have decent collateral in exchange for your loan. Loans will have a 5% initial fee attached. (If you take out $100 from us, 3 minutes later you will owe $105.) Any fees after that are 4% weekly (compound) until your loan is paid off. Once your loan is paid off, your collateral is returned. Simple as that!

Ready to take out that loan? What are you waiting for? Contact me!

As of right now, we have $4.5M to loan out. Funds may increase if other Admins chip in to the pot, so check back often!

AdminNightStrike August 30 2007 6:41 AM EDT

You CAN'T be serious!

You are now capitalizing on the very loans business that you tried to shut down just a few months ago??

How is it even slightly fair that an admin is profiteering on here, especially considering the fact that admins have an ability to repossess the entirety of a player's account when he defaults. Us lowly non-admins have no such luxury, and have to rely on profits from other loans to offset the costs, which basically means that you can easily undercut everyone's prices!

This is Wrong. Dead wrong.

Flamey August 30 2007 8:23 AM EDT

They're the profits for tournaments and future admin-run contests. They're not making anything from it. If you looked at his rates, it doesn't look like he's trying to undercut you, either.

QBRanger August 30 2007 8:46 AM EDT

I have to agree with NS on this one.

There already are businesses out there that provide such a service funded by their own money.

This is an attempt to siphon such business off the "common people".

Given a choice, who will somebody use, the "admin" loan business or a normal persons. If this was funded by earned/bought cb2, that is another story. But this is funded by already repossessed money.

I was stunned when I first saw this post last night and a good nights sleep has not changed my mind about it.

AdminG Beee August 30 2007 10:58 AM EDT

C'mon folks cut SNK some slack.
This is 100% not an attempt to siphon business off the "common people" or profiteering no matter how it may look. It is however an attempt to offer a positive contribution from a guy who has a track record at doing so.

If you've got concerns then that's perfectly acceptable. Explain them either in SNKs CM or here in the forum, but please don't question his integrity.

That is Wrong. Dead wrong.

QBRanger August 30 2007 11:13 AM EDT

Let me state things more clearly.

I never typed SNK was doing this for personal profit or gain.

However, there already are loan businesses out there by non admins using their own money trying to make a profit.

What this "admin" loan business is doing is using admin related repossesed money to make a profit. The profit is NOT for SNK's own gain. Let me make that 100% clear.

However, using admin related money/items to compete against a non admins is wrong.

If there was no loan services out there, fine, but this is just wrong.

QBOddBird August 30 2007 11:19 AM EDT

Perhaps making another thread to discuss the moral issues here or whatever would be better than cluttering up SNK4R's loan thread? =)

AdminG Beee August 30 2007 11:25 AM EDT

I understand you aren't suggesting SNK is doing this for his own pocket Ranger.

And yes OB, you have a point too :p

/me goes back to work...

AdminNightStrike August 30 2007 3:59 PM EDT

Why? People clutter up my threads all the time. It is perfectly justifiable to talk about this right here where it belongs.

What it comes down to is that admins have resources that non-admins don't. They have zero risk, while non-admins bear 100% of the risk. Further, since admins don't have to worry about users defaulting (as the punishment for defaulting is that an admin repossesses everything anyway), admins can easily be the cheapest loans in town.

I've worked hard to keep my business operational. I've employed not just one but numerous people here on CB to maintain an efficient business. I've poured massive amounts of my own money into the game to keep things from getting out of hand, and to allow the non-USD player an opportunity to compete at the high levels. I've stuck my neck out to give people $20m, $25m, and $30m loans, with the largest being over $35m. I've gotten screwed on several of those giant loans, and I've helped a lot of people with others. Heck, I funded the entire Dawg Auction myself!

And all of that just to be undermined by an admin using admin powers to do what a non-admin must work hard to compete with? A resounding "No!" is all I can think.

SNK3R August 30 2007 4:09 PM EDT

Thanks for bumping the thread up, NS.

By the way, there's about $20M available now.

Synge [Memento Mori] August 30 2007 6:33 PM EDT

As a former banker myself, I feel compelled to add my 2 cents. Nightstrike is exactly right in that it takes a lot of work and a lot of risk to run a bank. Having to compete with admins who do not share those same burdens is very unfair. I will be very disappointed if this continues, since it shows a massive amount of either disrespect or forethought (depending on how much thought was actually put into this decision).

QBRanger August 30 2007 6:35 PM EDT

Here Here!!

Synge is 100% correct.

QBRanger August 30 2007 6:44 PM EDT

But, let me state this was a great intentioned idea.

However, not all great ideas work in practice. :(

I full well know that there was no malice or forethought to harm anyone else in the game or loan business. It is just I believe not enough thought went into how others in the game may perceive it. Especially those already with loan services.

Maybe we can, as a community, think of a way to fund tournaments as repossessions are not endless.

Sir Leon [Soup Ream] August 30 2007 6:48 PM EDT

Maybe the Admin loaning service should have some kind of fixed rate that won't directly compete with NS's service? The people taking loans from the admins would be bettering the community while Ns's loans may be cheaper they are, undoubtedly, be used to make profit.

This is just a non-profit organization verse the common businesses.

I don't see why it is such a big deal.

AdminNightStrike August 30 2007 7:21 PM EDT

Leon - what if Admins offered forging to compete with your business, but they could spend unlimited BA (thus be done faster) and they would charge 65%? Would you have issue there?

(I'm drawing an analogy where the admins can provide a better service because of admin powers..)

AdminQBVerifex [Serenity In Chaos] August 31 2007 5:01 PM EDT

I have an interesting idea. Since SNK would be using community money, how about the loans he gives out have small interest rates, but he can only loan to people with above a certain NW, to guarantee repayment and ensure that the community funds are never 'stolen'. Then in turn, the people who can't get those loans have to loan from other people at a higher interest rate. Much like how banks borrow money from other banks at much lower interest rates then individuals can get.

Or hell, maybe only people in Economic clans can borrow money? Who knows. That would really create a banking class of people among us. :)

QBRanger August 31 2007 5:02 PM EDT

Or how about he can only lend money to Monty and his multis? :)

48Zach August 31 2007 5:15 PM EDT

"he can only loan to people with above a certain NW"

Well, that might not work -- I myself don't even have close to 10million NW, so that means I couldn't get a loan unless the NW cap in at a substantionally low rate..

Should'nt it go by MPR or Time played?

[RX3]Cotillion August 31 2007 5:50 PM EDT

MPR or Battles Challenged would be a much better gauge than NW, but I think Battles Challenged would be 10x better than MPR due to people being able to buy characters...

Also, people can always use rentals to beef their NW.

Miandrital August 31 2007 6:01 PM EDT

Believe me when I say that there is no way at all to establish criteria for who to gives loans to. If there was, either Pixel, NS, me, draco, wylde, or any of the other numerous bankers who have been in cb would have been using that criteria to prevent us from taking huge losses in loans. I have personally seen both supporters and nonsupporters, veterans and new players, high MPR and low MPR, high NW and low NW all default on loans during my time in cb1 and cb2.

If you guys really want a legitimate way to raise funds for tournaments, I would gladly give 1 or 2% of our profit (I am sure NS would too) to the tourney fund if we would be guaranteed admin support in seizing items and characters to pay for defaulted loans. Otherwise, I have to agree with everyone who says that the admin loans business is not a good idea for cb.

SNK3R August 31 2007 8:01 PM EDT

Admin Loans Service is closed. See this thread as to the explanation.

SNK3R September 8 2007 2:09 AM EDT

Admin Loan service is now closed.
AdminLoans character is now closed.

The $50,000 "profit" made was sent to TourneyPrizes.

Everything should be in order.
This thread is closed to new posts.