Loans

[Unknown98]

Loans are now available. You can request a loan on the Loan Management page. Depending on your credit rating, you have a loan limit as well as a credit limit and an interest rate. These are all subject to change, just something I threw together quickly to get the system working. 

Here are the current loan limits, credit limits and interest rates for each credit rating.

AAA: 6 loans | $500,000,000 @ 1.5% APR
AA+: 5 loans | $400,000,000 @ 2% APR
A+: 5 loans | $300,000,000 @ 3% APR
A: 4 loans | $250,000,000 @ 4% APR
A-: 4 loans | $200,000,000 @ 4.5% APR
BBB+: 3 loans | $180,000,000 @ 5% APR
BB+: 3 loans | $150,000,000 @ 6% APR
B+: 3 loans | $130,000,000 @ 7% APR
B: 2 loans | $110,000,000 @ 8% APR
B-: 2 loans | $100,000,000 @ 8% APR
CCC+: 2 loans | $90,000,000 @ 9% APR
CC: 1 loan | $80,000,000 @ 10% APR
C: 1 loan | $80,000,000 @ 10% APR

Let me know if you run into any issues

[skifans]

Looks good, does limit referring to the maximum about is loans an airline can take or the maximum value of each loan.

[Unknown98]

$limit = Max amount of loans
$credit = Max total value of loans
$interest = APR

[Unknown98]

An issue that was only allowing you to pay off your most recent loan has been fixed now.

[Stebah]

Looks great Unk, but does this make your credit rating drop or doesn't that change anymore when taking a loan?

[WhiteFright]

It does change. I noticed it yesterday when I took one out.

[Stebah]

Hmm okee thanks for the info! Then I guess I'll just wait a bit and do some research before I take a loan.

[Unknown98]

Yes taking a loan creates more debt for your airline thus lowering your credit rating. How much it lowers it depends on the value of the loan.

[gaff85]

Yes taking a loan creates more debt for your airline thus lowering your credit rating. How much it lowers it depends on the value of the loan.

Should you not be allowed to pay back loan amounts, that bring you under your limit, and if required for purchases allow you to increase your loan amount to the allowed level without taking out a new loan.

For example, I'm allowed 100mil over two loans, I have paid back some on these loans already, however it doe not allow me to increase these loaned back to the 100mil allowed due to credit rating.

[Unknown98]

I'm not sure... typically when you take a loan you can't go back after the fact and alter the loan, at least not without re-financing it. I feel like allowing that may make it too easy.