[thadchr]

With the growing number of point-savvy posters at SBR and the soon-to-be SBR sportsbook, I thought I'd hop on board the business/service wagon here in an attempt to broaden the range of possibilities by which members can "manage" their point banks, and hopefully earn a few points myself in the process of offering this service. I realize I'm not the first to do this, nor is it likely that I will be the last, but my goal is simple: (with absolutely no offense and nothing but regards to those who came before me, especially Ryan) I want to be the best, most compensating, and most professional loan option on the forum.


First things first, the main and obvious "rule": I have the right to accept or reject any potential loans. If someone makes a specific loan "offer", my acceptance of that offer is official if and when I transfer you the amount of points requested! I will then start an official payback thread (see below) and the terms of the loan are underway. If someone simply asks for points without attempting to negotiate their own terms, any loan granted will be subject to the terms listed below. Again, my initial transfer of the points and creation of a payback thread will mark the official commencement of the loan.

Upon issuing a loan, I will simply record the time the loan was given (rounded to the nearest hour) and make a new, stand-alone post with the specific terms of that loan. To maintain some semblance of organization, all loans should be paid of within that thread.

As of today, there will be three basic "types of loans", detailed below. Despite the lengthy explanations, the whole process is really quite simple. Basically, all (default, or otherwise non-negiotated) loans will be based on (what I'm calling) a daily 6-to-5 points model.

~~Ad hoc loans (negotiated): As is really the idea and philosophical premise behind this project, I'm always willing to work with anyone to develop our own loan terms. I realize I'm the one potentially earning from this, but I'm also the one putting in the time... if we work together to keep things fair, this is honestly intended to become a service, with the potential to benefit anyone at SBR who would like to use it.

~~Short term, small time loans (35 points or less, 7 days or less): Essentially, 20% interest... So for every 5 points loaned, you pay back 6. This is a simple and sensible method, since posters can earn 6 points each day just through "loyalty rewards" from SBR. A stated, this is for loans of no more than 35 points, with a payback period of no more than a week; the very basic premise is that if someone needs a fairly small loan for whatever reason, it will never take them more than a week of checking in and posting at SBR to pay it back.

For example, if a 20 point loan is taken on Monday, the recipient of the loan will owe 24 points by the following Sunday. Theoretically, this could/should be paid back by Friday, as any poster is able to receive 24 points automatically within that period. However, this is not a hard and fast rule, and so long as the points are paid back within the week, all is good.

~~Special, same-day (or one game) loan deal (35 points or less, 24 hours or less): Essentially, 10% interest on a win... If a loan is being granted for the sole purpose of wagering on an individual event that will reach its conclusion today or tomorrow morning, the recipient of the loan only needs to pay back 10% interest on the loan if their bets wins and they pay back the same day.

For example, if a 20 point loan is given on Monday, and the recipient (by whatever means) is able to pay back the loan within the same 24 hours, interest is half that of the usual one week loan, and 22-points would be due. If the loan is not paid back within 24 hours (i.e. the day's bet didn't win) the loan will simply revert to a standard one-week loan and is subject to the same terms as above.

As of now, these are the only "types" of loans being offered. In the future, if this whole thing is working out, I will offer a third type of loan with a higher ceiling and a longer payback period. In the meantime, my reservoir of points and new nature of this entire idea limits my possibilities.

A note on stiffing: Karma will be coming your way. In all honesty, when starting a "business" venture like this, all I can do is take the possibility of failure due to dishonesty with a grain of salt. I trust SBR, I trust the majority of its posters, and I trust that integrity will keep everyone fair. On a side note, it's worth mentioning that I could never offer a real loan service; in my opinion, there is a certain amount of cold-hearted, shrewd business mentality required to expect someone to pay back growing interest on a loan as opposed to feeding their families or paying their rent. However, my 5-points-per-day loan model ensures that ALL one needs to do is make one post daily in order to pay back their loan on time! As simple as this is, I simply don't see how anyone could stoop so low as to stiff a fellow SBR board member...

Obligatory fine print:
All of these terms are subject to change on my watch, but I will always post any changes before they go into affect, and anyone who already has a loan taken out will be "grandfathered" in, and thus not subject to any new changes. Honestly is supposed to be the policy around here.

Again, all loans should be paid back within one thread. Upon granting the loan, I will create a thread that looks like this:

LOAN RECIPIENT
Amount loaned
Amount to be paid back by Date
(Here I will include the amounts and dates as they relate to the type of loan: as in, X points owed if paid back by X date.)

Wishing nothing but the best to everyone! Hope this works out!

[thadchr]

Officially open!

[thadchr]

P.S. - Given the nature of this type of service, I understand that there will inevitable be opinions on whether or not this will work, etc. Please only offer criticism if it's constructive. I'm not at all closed to opinions; I just don't need to know if you think that I'm an idiot. After all, I'm the only one with anything to lose!

That said, if known stiffers request loans, I don't oppose to someone offering me a heads up.

[thadchr]

Example payback thread:

LOAN RECIPIENT
20 points loaned
Special: 22 points to be paid back by 6:00 A.M. Central, 11/8/09, OR
Regular: 24 points to be paid back by 6:00 A.M. Central, 11/15/09

[thadchr]

***

[uva3021]

Very impressive thread thadchr, if this is good to go let me be the first to request a loan "offer"

Special, same day loan deal, paid back within the next 24 hrs with 10% interest on all winning wagers
Amount: 35 pts

Pt Balance: 0
Assets: Currently tied for 3rd in the NCAAF week 10 contest giving me around 150-200+ pts upon completion of the final game on Sunday night.

[thadchr]

uva3021
35 points loaned
Special: 39 points to be paid back by 8:00 A.M. Central, 11/8/09, OR
Regular: 42 points to be paid back by 8:00 A.M. Central, 11/15/09

[thadchr]

You're all set uva! Thanks for the kind words and for being the first to utilize the service. Hope you win your bet!

[ryanspeer2001]

Hey buddy good luck in the game and if things go well maybe we can team up sometime and expand the business. Hope all goes well.

[thadchr]

Sounds excellent Ryan! Appreciate the kind words!

[Cecil Collins]

Can you do a 50pt loan? I am sorry but I am driving currently and not sure I read it correctly..

[Cecil Collins]

Little info on me, I am a new poster but in the middle of my second paying loan with steve, I have 18pts left of 36 which is why I asked for 50 because I would be paying his loan off. If 35 is your max that's ok, but just wanted to check on 50m

Thanks

[Enogsiwon]

Thadchr, Ryanspeer...

I would like to propose a business idea..

Ive tested the sportsbook and casino..and a couple things are clear..

1.Mexican Stallion will be out of business soon (he does a good job but he cant compete)

2. Gonna be alot of Pointless SBR posters looking for loans..

I think you 2 should join forces and take over the market..

All I want is to be an Investor.. Ill give you guys some points to get started.. and continue to give you guys points.

Let me know if this sounds good..

[Enogsiwon]

I can probably get you guys 300 points by tonight.. maybe more to get you started..

[toastedbread01]

Originally Posted by Enogsiwon

Thadchr, Ryanspeer...

I would like to propose a business idea..

Ive tested the sportsbook and casino..and a couple things are clear..

1.Mexican Stallion will be out of business soon (he does a good job but he cant compete)

2. Gonna be alot of Pointless SBR posters looking for loans..

I think you 2 should join forces and take over the market..

All I want is to be an Investor.. Ill give you guys some points to get started.. and continue to give you guys points.

Let me know if this sounds good..

How is the sportsbook? What books are listed? Are there any limits?

Is there also an exchange?

[Enogsiwon]

Originally Posted by toastedbread01

How is the sportsbook? What books are listed? Are there any limits?

Is there also an exchange?

Its pretty nice.. dont think there is an exchange..

parlays, teasers, all that good stuff.. just like a normal book

Casino is nice too..

[toastedbread01]

Originally Posted by Enogsiwon

Its pretty nice.. dont think there is an exchange..

parlays, teasers, all that good stuff.. just like a normal book

Casino is nice too..

But are they making their own lines, or can I choose from multiple books? Also, do they have bet limits?

[Enogsiwon]

they have their own lines.. dont know the limits but they will be high

[infamousbacardi]

When is the Casino opening??

[MexicanStallion]

Originally Posted by Enogsiwon

they have their own lines.. dont know the limits but they will be high

I believe Bill Dozer said the max would be 2000 points right out of the gates? I think I saw a post somewhere. Cannot confirm though.

[uva3021]

Originally Posted by thadchr

uva3021
35 points loaned
Special: 39 points to be paid back by 8:00 A.M. Central, 11/8/09, OR
Regular: 42 points to be paid back by 8:00 A.M. Central, 11/15/09

thank you, paid

[thadchr]

Thanks uva! Much appreciated.

[thadchr]

Cecil, I don't really have a huge problem with a 50 point loan, but as I said, I don't really feel like I've got enough points to take that risk just yet.

Plus, since I currently only have "one week" loans, giving out 50 points really bends the whole premise: I want anyone to be able to pay back their loan within a week just by coming to SBR. Under no circumstance to I want payback to be daunting.

So, I'll send over 35 for now. Assuming all goes well, in the future we can work out a higher loan if you'd like.

[thadchr]

Cecil Collins
35 points loaned
Special: 39 points to be paid back by 8:00 A.M. Central, 11/10/09, OR
Regular: 42 points to be paid back by 8:00 A.M. Central, 11/16/09

[Shortstop]

Very nice!

Good luck with your venture Thad!

[Cecil Collins]

Originally Posted by thadchr

Cecil Collins
35 points loaned
Special: 39 points to be paid back by 8:00 A.M. Central, 11/10/09, OR
Regular: 42 points to be paid back by 8:00 A.M. Central, 11/16/09

Thanks

[B1GER1C828]

Ill take upto 50. I got the posts. Ill pay back if i win tonight. But if you wont do 50, ill take as much as u will. I got MNF play i like.

[thadchr]

B1ger, given your long term membership here and the PM you sent, I'll send you the 50. Putting some trust in ya...

I do hope your play is on Denver tonight, however, or I fear for the 24-hour loan deal.

[thadchr]

B1GER1C828
50 points loaned
Special: 55 points to be paid back by 2:00 P.M. Central, 11/10/09, OR
Regular: 60 points to be paid back by 2:00 P.M. Central, 11/16/09

[B1GER1C828]

nah i got points coming to me either way, so dont worry. but it does appear ill be taking Philly in the nba instead.

[thadchr]

Good deal. Best of luck in your play tonight!

[pattymayo]

edit: nevermind

[ryanspeer2001]

Not to threadcrap here but thad make sure you are aware of posters in debt as B1GER1C owes me 55 points currently.

[B1GER1C828]

Originally Posted by ryanspeer2001

Not to threadcrap here but thad make sure you are aware of posters in debt as B1GER1C owes me 55 points currently.

Just to add, both will have it by friday. Not stealing either. Got points coming in, dont worry . Never had a problem on the site, wont start now

[thadchr]

Trust you B1G. Appreciate the heads up though Ryan. I've been trying to keep an eye on your thread for this purpose.