Okay here is how you make this work.
Since the main risk is default, and many gamers will just leave without paying the loans back via quitting, or going bankrupt etc, you have more issues than just the main borrower.
1. They would have to be a secured loan based on assets. These are tangible value assets because they represent the value of 1 player in the game, however, the pitfall occurs where they are worth NOTHING to the game or admins if the player quits. These assets would have to be auctioned off by the bank to recoup some value, maybe at set discount to market value. This would create several more fun aspects of the game.
2. net weekly profit average over 10 weeks would be a good income qualifyer for the loan.
3. payoff period should be 30 game weeks(30 real days)
4. interest rate of say 8%
5. you can borrow as much as you can repay in 30 days(game weeks) based on your recent ten day average net profits.
6. once repaid you can borrow again.
7. If could be forward looking, take a basic trend line of your growth, and lend based on that amount.
for example if you are at ten million today, and were 1 million ten days ago, you should be at 30 million in day 20, and more in day 30, so you should be able to borrow 30 million minimum on a base amount. But since you are already at ten million profit, you could pay this off in 3 days, SO if you could pay it off in 30 days at current profits, you should be able to borrow ten million times 30 or 300 million. However I think it should be a loan for a maximum of 50% of your net assets MAXIMUM. That is a normal banking standard.
Now, tell this to any bank that you can borrow 30 times your NET DISPOSABLE INCOME, and what would they say.. well lets look at that. Credit card debt serviceability is only 3% of the average daily balance, but those are not meant to be paid off at all they want their perpetual 30%. SO, considering the average loan is 3-5 years in length and they want it fully paid off at the end, 5 years is 60 payments so 60 days in this game but i prefer 30 due to the quitters and lack of collection ability. So normally you have lending allowing a traditional 30% of your income into payments.
So if ten million is your income, payments should be 3 million x 30 days = 90 million minus interest or about 80 million in loans.
If you have 160 million in assets and a ten million dollar income, you can borrow 80 million dollars  Very easy to compute in a formula.
A. Net assets / 2 = maximum loan.
B. Net income x .3 x 30 - 8% = Loan amount.
C. Cap B vs A and reduce accordingly = approved.
This can be coded into the entire game in probably like 20 minutes. DONE.
LETS BANK! |
