Executive and Business Owner Personal Loans

[standardplayer]

Executives and Business Owners should be able to take out loans against their stock ownership to fund their lifestyle or business without a salary using the funds to buy real estate, additional shares in companies, bonds, etc. Elon Musk, Larry Ellison, and other famous executives often do this to exercise stock options and pay for their lifestyle.

Features:
• Ability to Pledge up to 25% of Shares for Personal Loans
• Zero Cash Interest, Interest Accumulates to the Principle Balance
• Low Interest Rate because Borrower has High Credit Rating and Loans are Secured

[Kristo]

Hi,

yes to most of those things. Also how about mortgages? These people will buy mansions, what about providing them with loans in exchange of mortgages on the mansions?
Also - how about using not-monetary assets to guarantee a huge loan? A tech-level perhaps? Shares and bond too, of course, i voted for that.

[standardplayer]

Excerpt from Older Post Under: "Inputs needed: the design direction"

Bank Design Suggestions:
-...
-Ability to Obtain Mortgage for Players Personal Residences. (20% Down, Monthly Principle and Interest Payments over life of loan)

Interesting concepts. Could you provide more details as to how you envision these to be implemented?

• Mortgage on Personal Residence:
o Build a Home with Option to Finance Purchase with Mortgage
o Ability to Mortgage a Home that has already been built.
o 20%+ Down Payment (in 10% Increments) over 10-15+ Year Mortgage
o Ability to Select Bank to Lend you the funds
o Fixed Mortgage Payment could be Monthly or at Beginning/End of Year to be able to pay with dividends/interest or bonuses.
o Fixed Mortgage Payments would be based on Basic Amortization Table where the majority of Interest is Paid in first few years and the principle balance begins to decline faster they longer you have had the mortgage.