I posted this in the "real" loan thread, but since
SBR doesn't allow editing after one day, I couldn't post it on the first page and thought it might go unnoticed. So here is said announcement, copied in its entirety from the official loan bank thread.
Please still post loan requests in that thread.
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Thad's Friendly Neighborhood Loan Bank is now officially offering 50 and 100 points loans.
For now, loans of 35 points or less will still be granted per the terms outlined in the first post of this thread. These loans can be used (preferably) for contests, one-on-one bets with other SBR member, ordering a pizza, etc., or (if you absolutely can't help yourself 
) at the casino; these can always be paid back within simply by logging in and posting each day. However, ALL other loans will be credited to "Williams22 & Bigdog's Book"! This decision has been made in order to encourage action amongst board members, and as a half-hearted means of collateral, as this loan service has been a lot of work, and I really haven't made anything at all after being stiffed a couple times. At W&B's book, the loan "deposit" will be subject to the (very liberal 
) rollover terms set in place as outlined in their book. Some exceptions will be made in order to allow loan recipients to pay back soon, and thus pay less interest on their loan. (See below)
As usual, deals can be worked out, and terms are subject to modification given that the recipient and I agree. Also (as usual), the final decision on whether or not a loan will be granted is mine, and there are not any set-in-stone prerequisites to receive one. That said, here are the GENERAL requirements and terms for these larger loans:
50 point loans- Can't have any other outstanding loans (Please be honest)
- Must have been a member for at least 3 months and/or have 200+ posts
- If paid back within 24 hours, the total owed will be 55 points (same as smaller loans)
- If paid back within 7 days, the total owed will be 60 points (same as the current ad hoc 50 point loans that I've recently been granting)
- Otherwise, the loan needs to be paid back at (a minimum of) 5 points per day, with a 20 point interest fee due by the end of the month (the same date the following month). One missed day won't be counted against you, as it is understandable that not everyone can log into SBR 12 times a day, and might have work or a family event to attend to now and then.
For example, a 50 point loan is granted on the first of the month. The user pays 5 points each day for 9 straight days (for a total of 45 points). They then forget to log in and post on the 10th day of the payback period (no penalty) and pay their 50th point on the 11th day. Because the payback period took longer than 7 days, the loan recipient now owes an additional 20 points at any time before the first of the next month. (This equates to a payback of 70 points total.) Essentially, if the 50 point loan takes longer than a week to pay back, the interest is 20 points.
100 points loans
- Can't have any other outstanding loans (Please be honest)
- Must have been a member for at least 6 months and/or have 300+ posts
- If paid back within 48 hours, the total owed will be 120 points
- If paid back within 10 days, the total owed will be 130 points
- Otherwise, the loan needs to be paid back at (a minimum of) 5 points per day, with a 40 point interest fee due by the end of the month (the same date the following month). In this case, two missed days won't be counted against you, for the same reasons as mentioned above.
For example, a 100 point loan is granted on the first of the month. The user pays 5 points each day for 19 of 21 days (for a total of 95 points). They forget to log in and post on two of the days during the payback period (no penalty) and pay their 100th point on the 22nd day. Because the payback period took longer than 10 days, the loan recipient now owes an additional 40 points at any time before the first of the next month. (This equates to a payback of 140 points total.) Essentially, if the 100 point loan takes longer than a week to pay back, the interest is 40 points.
Important Rules regarding Loan Payback, Withdrawals, and Rollover at W&B's book
Per the W&B rules, general deposits need to be rolled over
4x before a withdrawal can be requested. However, there are two major exceptions to the above loans:
1) If a player reaches a total balance equal to higher than 175% of their initial deposit, the original loan will automatically be paid back with the applicable interest. The total amount owed will simply be withdrawn from the player's W&B account (by williams22), sent to me, and all debt is cleared.
2) A player may choose to pay back their loan (plus applicable interest) at any time; again, this will clear all debt.
In either of these cases, the player needs only to roll over their remaining account balance 4 times before requesting a withdrawal from their W&B account.
A final note about loan eligibility: Really, all I'm looking for in terms of "qualifications" is proof that you are an active member of the SBR community, checking in and posting regularly, without any negative reputation and no outstanding bets. No positive or negative "qualifier" is a hard and fast rule; I will check your post history and make a determination. Remember, if I have evidence to believe that a poster can't pay back at least 5 points per day, the entire concept of the "friendly" loan bank is somewhat lost. As I've said from the beginning, I don't want any debt to be too daunting to pay back!
Any (constructive) feedback on new additions and terms is welcome!
Again, wishing nothing but the best for everyone! Hope this works out!
Major Announcement Regarding Thad's Friendly Neighborhood LoanBank (100 point loans)!
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Originally Posted by Carseller4
See Credit Report thread. 
