Greetings community!
So I mentioned I'm in need of a business loan earlier, and I'm now have the honor to have user "biulas" filling my loan
request again!
As we agreed to make this public, and we also think this might be a good example case of rare no-collateral loan on this forum, so we decide to make a thread so everyone can see what are we doing here!
My first loan with biulas was about personal loan ($100 at first, somehow became $200 later), it was repaid in time, and the experience was wonderful!
So later, I had a conversation with biulas, telling about I am in need of a bigger business loan recently, which will have a great revenue if I can take the opportunity.
Without hesitation, biulas said he will take that into consideration, and asked for the loan amount.
As the amount is bigger, we agreed that I should provide all the docs he need, and he will deliver them to his partners and law firm for further discussion. Though there were some urgent matters on his side, and I was quite worried about not getting the loan in time, biulas is really thoughtful and try to get everything done as soon as possible for me. Finally, after several back-forward message exchange, we have the following agreement:
"I just receive the memo from my partners and our Chinese law firm partners at Dexxxx Law Offices, Beijing , and the following was agreed:
The lender part of current agreement has full understandment that this lending process will help to fund a project on which without them, is in jeopardy of being refused
A sum of 0.07 BTC is to be lended to your person, hereby known as borrower, with name Clxxx Cxxxx,
A fixed 30% interest will be applied to the amount lended in BTC.
The parties agree on a 4 week payment plan, which will include the 30% interest fees.
Each parcel of the value is calculated in a weekly resettlement of 0.0175 BTC, which should be paid on 17th, 22nd, 29th January and 5th February 2018, respectively.
Upon total repayment, the sum of interests and initial capital cannot be less tan the current exchange amount at website
www.preev.com . As per this hour, total amount principal and interested sums 0.091 BTC, which exchanges to 1233 USD.
Resettlements have to paid in BTC and BTC only, by the total final amount of 0.091BTC (principal plus interest) having the previous requisite in consideration.
For every day the resettlement is due, we reserve the right to charge additional 2% fee if borrower fails to comply with resettlement obligation.
Quote from law firm memo:
“Also, taking in consideration the terms and means of contact established by the borrower, and the matter of urgency, we waive the rightful right to establish a written contract with due diligences. We consider that the documents sent and the expressed signed, by hand or digitally with valid certificate, of this e-mail, would be enough for a quick litigation in order to recover the funds lended to the borrower.
Lender will have to print this e-mail, sign it according passport sent, and date it. Also, a selfie holding the signed and dated e-mail will be necessary due to legal concerns.”"
Thanks to biulas's kind help, the loan has now been fulfilled, TX ID:
fd83aad49c6e7d69ac5bbaa11d003bfb4e0228a704397dca06cd800db157d169
b06ff254186dae089fa50cc9bc65dac9aea64564b2928858d9292ece1f958f07
I will reply here when I repay the loan on the agreed repayment dates, and I hope this could be a reference for the future loans in this forum!
Thanks again for biulas's help, you're really awesome!