Warrior General Games

Hey OP............. Only the Owner of the team can take out the loan

Originally posted by Novus
Originally posted by 19jf

Thanks for all the contributions. Still looking for the definitive answer if anyone knows.

You have the definitive answer, silly.

Originally posted by Novus

Correct. The payments will come out automatically, though you do have to make sure you have enough cash on-hand to cover the payments. I think the Loan screen will show you the payment schedule.

Originally posted by whodey08

It is automatic.

Originally posted by MarBro456

It will come out automatically. You just need to make sure that the team has the money to make the payment.



Hey Novus,

Thanks for persisting with me

The original question hasn't been answered so I will re-word it.

After how many days from taking out the loan does the first automatic payment come out? i.e..how many interest free days do you get?

I don't have access to the loan screen & therefore any payment schedule.

1st payment is due in 10 days. Full repayment of the loan is due in 40 days.

Loan Details
Loan Amount: $1,500,000
Interest Rate: 27%

Duration: 40 days
Payment Schedule: Every 10 days

Loan Repayment Schedule (if you were to take out a loan today)

Payment Date - Balance Remaining - Principal Payment - Interest Payment Total Payment
Jun 1, 2013 --- $1,500,000.00 --- $339,095.50 --- $101,250.00 --- $440,345.50
Jun 11, 2013 --- $1,160,904.50 --- $361,984.45 --- $78,361.05 --- $440,345.50
Jun 21, 2013 --- $798,920.05 --- $386,418.40 --- $53,927.10 --- $440,345.50
Jul 1, 2013 --- $412,501.65 --- $412,501.65 --- $27,843.86 --- $440,345.51

Total Payments: $1,761,382.01

Originally posted by whodey08
1st payment is due in 10 days. Full repayment of the loan is due in 40 days.

Loan Details
Loan Amount: $1,500,000
Interest Rate: 27%

Duration: 40 days
Payment Schedule: Every 10 days

Loan Repayment Schedule (if you were to take out a loan today)

Payment Date - Balance Remaining - Principal Payment - Interest Payment Total Payment
Jun 1, 2013 --- $1,500,000.00 --- $339,095.50 --- $101,250.00 --- $440,345.50
Jun 11, 2013 --- $1,160,904.50 --- $361,984.45 --- $78,361.05 --- $440,345.50
Jun 21, 2013 --- $798,920.05 --- $386,418.40 --- $53,927.10 --- $440,345.50
Jul 1, 2013 --- $412,501.65 --- $412,501.65 --- $27,843.86 --- $440,345.51

Total Payments: $1,761,382.01


We have a winner!!!

Thank you

Originally posted by Novus
Correct. The payments will come out automatically, though you do have to make sure you have enough cash on-hand to cover the payments. I think the Loan screen will show you the payment schedule.

However, your real goal should be to get the loan paid back in full before the first payment comes due. Then you won't have to pay any interest. And that's a BIG help, because the interest rate is kinda high. Might as well avoid it if you can, right?

this

generally, you take out the loan right before day 48,
do yr stadium construction, then day-8 you start getting ticket sales
and you pay back that loan ASAP to avoid interest
basically what he said

my point is, the 10 days should be completely irrelevant
get the $ and pay it back asap. dont fuck around

nvm