We are coming close to the maturity of the first loan, which I believe is due on the 25th, and we are looking to up the loan amount to 3 to 4 mm loan amount at that time up to 90 days. Of course, we are also aware of this quick increase (limiting to 50% increase up to Max of 5 million) in credit limit (which was enacted after our loan originally taken), so we are open to a discussion here with the community based on what would be an appropriate course of action.
Given current market conditions, we look to pay 18% as per the last market rate.
We are happy to take down such loan - if approved timing wise after we have repaid this current loan, or if it isn’t an issue to start a loan earlier than that date. However, in any case, we have figured it is good to start this conversation earlier than later.
Our loan expires at 0800 hours GMT on the 25th of March:
So we proposed that as we would like to roll this loan to a larger size 3 to 4 million as per the post. However, since it seems that there is some credit enhancement checks etc for this size increase and may not be completed in the timeframe, that we split our application into 2 parts:
An application on the App made tomorrow 22nd of March for 90 days at 0800 UCT for 1,500,000 TUSD at 18%
A second application made 23rd of March for 2,500,000 TUSDT also at 18% for 90 days.
While not gas efficient, this can allow the community to pick and choose (hopefully pick both), while allowing loans to continue without much of a hitch. At 18%, I would think its better to keep money working for you all as well.
I would definitely support 2.5mm. I would consider supporting 3mm.
If you want to proceed with two separate requests, I would consider doing them at the same time rather than a day apart - otherwise I am worried people will vote on whichever comes first without reading this post, and then reflexively reject the second one because the sum is too big.
Ok, then lets go with 3 million then with one shot, just knowing we’re trying to work here with these comfort levels with everyone and the fluidity here as the community perfects this credit risk/assessment/approval process (a good thing!).
We have reposted the loan - not that we cannot withdraw until after the maturity date of the current loan at this point. So, just keep watch of our loan repayment in the next couple of days.
Thanks for your support in advance!
