Star Citizen Thread v6
- Thread starter Brett C
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So, after refunding money spent for a single computer game she can buy a used car. Pretty normal, are you sure your lulzbucket wasn't damaged already?
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My god, the doomsday patrol is really active.
- It's standard practice to set up EVERYTHING as security just so that the Bank has a means to demand payment from liquidated assets just so the loan taker cant just run away
- Banks today would NOT loan money to a company they view as a security risk
- It also means that F42 can now RAISE the loan at need as long as the total value to their security allows it.
- The loan is at 0.25% which is not improbable with todays interest rates AND the ability as a customer to negotiate in todays extremely low interest rates
- The loan will be tax deductable
- If F42 need money to finish the SQ42 game it's MORE expensive to MOVE money from the US to UK than taking a loan
- With that low interest they can easily MAKE money by borrowing money and invest part of it to counter the low interest rate
- And no, the bank owns nothing of CIG, they have security of CIG assets in case of CIG failing to repay said loan
Source: My 20 years experience as an investment, financial and general banker.
- It's standard practice to set up EVERYTHING as security just so that the Bank has a means to demand payment from liquidated assets just so the loan taker cant just run away
- Banks today would NOT loan money to a company they view as a security risk
- It also means that F42 can now RAISE the loan at need as long as the total value to their security allows it.
- The loan is at 0.25% which is not improbable with todays interest rates AND the ability as a customer to negotiate in todays extremely low interest rates
- The loan will be tax deductable
- If F42 need money to finish the SQ42 game it's MORE expensive to MOVE money from the US to UK than taking a loan
- With that low interest they can easily MAKE money by borrowing money and invest part of it to counter the low interest rate
- And no, the bank owns nothing of CIG, they have security of CIG assets in case of CIG failing to repay said loan
Source: My 20 years experience as an investment, financial and general banker.
[haha]
Source your quotes.
Thanks for that info.
"ducks head in sand. I'm not listening anymore lalalalala" - "Everything is normal, remain calm, there's nothing to worry about".
https://img.devrant.io/devrant/rant/r_10166_GmngH.gif
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I'm still laughing. She's quite annoyed - and apparently will be doing some youtube thing about it - that is all I know.
It's not 'Batgirl' is it? [big grin]
Yeah...who cares about the bank loan when you can see what Ben Lesnick&Sandi Gardiner just Tweeted.......
Hmm...My sarcasm detector is tingling...
The documentation of the loan and 20 years work experience.
Correction about interest. 2,25-4,25 depending on how they have negotiated and set it up.
Most likely lower since they have a 2% gap to play with.
A quick recap here maybe, for us plebs who don't do Tw@ter?
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Yeah, no.
That's not what the documentation actually says, and as you immediately point out — it even directly contradicts what you claimed.
You have 20 years of experience and genuinely thought CIG had gotten a .25% interest rate on their loan?
Pull the other one mate, it's got bells on.
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If you say so. Though I can't help wondering why banks would be lending out money at lower interest rates than they could earn by investing it themselves.
I know you're having a laugh but the loan is not 0.25%, at minimum it is 2.25%
https://www.reddit.com/r/starcitizen/comments/6jepuv/chill_out_on_financial_speculation/djdp4y0/
The bank does have ownership during the duration of the loan or else they would not be able to grant CIG a license. You can't give a license 'to develop, produce, exploit and otherwise deal with the Game' if you don't have the rights to do so.
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I think he just refers to the fact that Sandi, as one of the people responsible for PR, posts photographs of developers' screens while they work on some kind of a feature or a model, so the message is "Ignore that scary loan thing, look, shiny!".
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Only if everything is worth anything.....
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