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List of forums -> Your suggestions and bug reports -> Virtonomics LoansSuggestions on how to make our virtual business game better and reports about discovered errors.
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A 'Bank of Virtonomics' has already been discussed, the debate to which can be read here: I have realised that just by saying 'have a bank' sounds really cool and exciting but in order for it to be realistically created and implemented, it's design, function and how it would operate would have to meticulously planned in great detail. propose something small and useful and it has a chance to be implemented. If you proposing something big make it as detailed as possible. We don't need an idea like "add banks", we know that banks are interesting. We need full/complete concept where we'll see that this not going to break game balance and will be interestingSo banks do many different things, but I would just like to focus on one it's main functions. I would like to see Virtonomics Loans, very much like Virtonomics Bonds in the game, the reasons for which I shall explain below. I would also like to mention that I would not like to claim this as 'my idea', when writing this I did trawl through the forums and draw on the ideas and thoughts of lots of other players. Just to give some context, the precise definition of a 'Loan' is: Written or oral agreement for a temporary transfer of a property (usually cash) from its owner (the lender) to a borrower who promises to return it according to the terms of the agreement, usually with interest for its use. If the loan is repayable on the demand of the lender, it is called a demand loan. If repayable in equal monthly payments, it is an instalment loan. If repayable in lump sum on the loan's maturity (expiration) date, it is a time loan. Banks further classify their loans into other categories such as consumer, commercial, and industrial loans, construction and mortgage loans, and secured and unsecured loans. In terms of the real world, finding ways of raising capital and borrowing and lending money is very much part of a business and I would think very relevant to this game. I would also tie in very nicely with the current bond system. (Think twin functions: Bonds and Loans). For those that are concerned that bonds and loans are too similar and 'why have loans when we have a system of bonds' here is the answer: Loans are a type of debt in which a lender lends the money and a borrower borrows the money. A specific time limit is set for the repayment of the debt money or the principal amount which has been borrowed by the borrower from the lender; a bond is a type of loan also called a debt security. In the case of bonds, the general public is the lender or creditor, and big corporations or the government are the borrowers. And this leads me to explain the core reason why we should have Virtonomics Loans. The reason is that I believe new players are struggling in their initial early days in the game to firstly understand it and gets to grips with the game mechanics. I think having this option would maybe give them more time to stay afloat and then start to grow as they learn all the information they need to know to be successful. As once they have gone bankrupt (unless they decide to persevere and restart), I believe there is little chance they will come back. We need to look out for our new players, as they are the ones keeping the player base strong. "Ah", but I hear you cry,"what about bonds?!" Well, the thing with bonds is, if a new player decides to issue bonds, there is only so much they can issue against their asset value as collateral, so this doesn't make a great difference and so is quite limiting in this respect. Personally, I wasn't even aware I could issue bonds when I started as I spent the first two weeks learning how the game worked. I have heard from others players that 'bonds can't help new players', 'they aren't a good option' and are 'risky'. I have also heard that 'the current bond system is fine' and I have to say that I agree, only to the extent that I am a fairly big player with a big asset value and a good turnover. Even the paragraph above, implies bonds are good for big companies (and governments). I am just not all too comfortable with the thought of putting people through the stress and worry of the very steep learning curve that is needed without some form of support mechanism and so will endeavour to give them a helping hand and support as part of the wider community. So anything that is bad for new players makes it a bad system overall as the system should work for all players not just big ones. To put it another way or metaphorically, you seriously mean to tell me that the current logic used in this game is akin to telling a struggling high street shop strapped for cash to go and issue some securities (against their assets for which they will get close to nought) to raise money rather than just borrow money through some lending platform is ridiculous. Legitimately, I don't even know if new players can even issue bonds, maybe if you've been in for a few weeks you could issue 1 as the minimum amount required for a venture bond is $25M. Loans could be used by intermediate players as well and this could be a short-term solution to try and slow the gradually decreasing number of players which I think is quite sad. I am confident that there is demand for this and people will take an interest in it. The proposal is to create some form of 'Loan Facility', which is a credit arrangement through which a company can borrow money up to an agreed sum. For money to be lent, a lending platform would exist to facilitate a loan, almost like a middleman. These following things would be agreed upon: Interest Rate (%) Ideally this would be 1-5% Loan Amount($) Repayment Time Weekly Repayment/Payment Plan ($, this would be automatically calculated) Total Interest ($, this would be automatically calculated) Also, asset requirement($/%) as collateral to back up the loan and maximum amount of debt ($/%). If a player exceeds the stated debt limit, they could be forced to pay part of the loan back immediately and/or discuss new terms under which they could borrow with the creditor. In the case of bankruptcy, it could work much like the current system and if someone can't find anyone else to borrow from,they would go bankrupt, their assets would be put onto the open market and be sold to the highest bidder with the proceeds paid back to the lender/s for the rest of or all of the money lent. This platform would enable players to lend money to each other and so you could get a loan on the same day that you needed it. Or very similar to the bonds system, new players could issue 'promissory notes' (special IOU's). There could be fixed types of loans automatically available such as: Consumer Loan Interest Rate: 3% Loan Amount: $1,000,000 Repayment Time: 10 Weeks Weekly Payment: $100,000 Total Interest: $30,000 Commercial Loan Interest Rate: 4% Loan Amount: $2,500,000 Repayment: 25 Weeks Weekly Payment: $100,000 Total Interest: $100,000 Industrial Loan Interest Rate: 5% Loan Amount: $5,000,000 Repayment: 50 Weeks Weekly Payment: $100,000 Total Interest: $250,000 Of course these are just examples and could be edited to what people think are fair and be expanded to suit other types of players. I'm not claiming that this will solve all of the challenges that players or the game as a whole face or address the larger issue of the longer term downward trend that currently appears to be happening and it will also not fix the increasing divergence of the top 1% of players and the other 99% in the current system of pay to win but I just wish that it will help people and is a good first step in the right direction. I really love and enjoy playing this game, it must be one of, if not the best business games I have played in my life and I would hate to see it fall apart, so here's my contribution and I just hope that it can be turned into reality. But only with constructive criticism and support from others will this be possible. Thanks for reading |
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| G'day.
The idea is good, and it would be great to see a simpler system implemented for new companies. I can imagine a small form to fill out, submit it into the market, and wait for another company to lend you money. I voted "Yes".  |
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Bogan Corporation |
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The overall idea would be great to have implemented and personally I agree that if new players could have access to loans it would effectively "buy" them time for them to come to grips with the games without having to go bankrupt. Maybe there could even be a one time "new players" loan that would give them extended time to repay it or such. Just a random thought but probably not needed. The only thing now is for Admins or Devs to give us some proof they look at this stuff haha |
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List of forums -> Your suggestions and bug reports-> Virtonomics Loans |
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