RIF Loans - Monthly Payback Edition. Small and Large Loans Available

[Joshua Farrell]

RIF Small and Large Loans
Monthly Payback Edition​

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This thread is dedicated mainly for those who are looking to open an exchange thread located in this board, or to request a small loan to be able to claim a withdraw from the forum. Any requests for a large loan, whose purpose is to just cash out from the forum, will be refused service. Any Large Loans offered from this thread, must be used for exchanges created in this board only. No Exceptions!​

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Are you looking to offer exchange services here at Referral Index Forum? If so, then this is for you. This loan service, allows you to claim RIF for an exchange, where you are expecting quite a bit of RIF spent to pay people to do stuff for you, and potentially to get the investment back by having others pay you for completion of services. This also can be used to get a withdraw from the forum.

Part of the loan agreement made in this thread, is that you agree to pay back what you got as a loan, back on an atleast monthly basis, or based on an agreed upon pay back plan. Because of the amounts involved, it is expected that you actively get involved with exchanges, to make sure you have the capital to be able to meet the monthly payback requirements, or to pay it back IN FULL.

Small Loan Information
Loan Minimum Request: 1.00 RIF
Loan Max Request: 5.00 RIF
Initial Fee, Added to Payback Total: 300% of Requested Value
Expected Balance to Pay Back with Initial Fee: Loan Requested Amount + 300% of the value of the loan.
Minimum Fixed Payback Installments: 2.50 RIF Monthly, till paid in full.
Fixed Fees Added for Missed and Partial Payments: 1 RIF Added to Total for all missed payments. Missed payments, are any month where you did not pay back atleast half of the monthly installment balance. If you paid 50% or more of the monthly installment but didn't pay the full amount for the month, the fee is the value of the remaining monthly balance you did not pay, plus 0.5 RIF added to your current posted loan balance.
Formula used for calculators, to determine how much you need to pay back:
x+(x*3)=
x, being requested loan value (the amount you want as a loan).
3, being the initial fee tacked onto the total to pay back.
Example: 1+(1*3)=
The above example, shows a loan requested value being 1 RIF, being added to the fee charge being multiplied against the requested loan amount. The amount it puts out after the formula is put in, is 4. 4, being 4 RIF needs to be paid back.

So the formula with the answer given for the total to pay it back, looks like:
1+(1*3)=4

To figure out how much you will need to pay back in full, use the formula above, and replace the x with the loan amount you want to claim, then input that number in the two spots that x is located in the formula, and you will get your answer on how much you need to pay back.

Small Loan Terms That MUST Be Agreed To
By applying for a loan from this thread, using the below form, you agree to:

• Use the loan, strictly for withdrawing that amount, or to be used in an exchange that you are offering to pay people with it;
• Not to ask for a loan, just to withdraw and disappear from the forum;
• Required to Pay back the loan on a monthly basis, based off of the Fixed Payback Installments Amount;
• Contact me regarding your ability to pay it back, if you end up having issues with being able to pay back the monthly installments, or the entire thing in general.
• To post daily or to get business to earn the amount back, in order to build up your balance and repay the loan;
• To Make sure all content created by you, via threads and replies, are of good quality, and are posted in the appropriate section of the forum that it belongs in.

Refusal to agree to the above, will get you reported once it is figured out you will not abide by the above terms.

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Large Loan Information
Loan Minimum Request: 25.00 RIF
Loan Max Request: 50.00 RIF
Initial Fee, Added to Payback Total: 100% of Requested Value
Minimum Fixed Payback Installments: 5 RIF Monthly, till paid in full.
Fixed Fees Added for Missed and Partial Payments: 5 RIF Added to Total for all missed payments. Missed payments, are any month where you did not pay back atleast half of the monthly installment balance.If you paid 50% or more of the monthly installment but didn't pay the full amount for the month, the fee is the value of the remaining monthly balance you did not pay, plus 2.5 RIF added to your current posted loan balance.

Large Loan Terms That MUST Be Agreed To
By applying for a loan from this thread, using the below form, you agree to:

• Use the loan, strictly for services you are offering to pay people with it;
• To also get business to earn the amount back, in order to build up your balance and repay the loan;
• Not to ask for a loan, to cash out with it;
• Pay back the loan on a monthly basis, based off of the Fixed Payback Installments Amount;
• Contact me regarding your ability to pay it back, if you end up having issues with being able to pay back the monthly installments, or the entire thing in general.
• Make sure all content created by you, via threads and replies, are of good quality, and are posted in the appropriate section of the forum that it belongs in.

Refusal to agree to the above, will get you reported once it is figured out you will not abide by the above terms.

Form to Request Loan
*MUST BE FILLED IN COMPLETELY*

Loan Amount Being Requested:

What Service Are You Requesting This For: (withdrawing for small loans, or to participate in a service posted here on the forum)

Link to Topic, Where You Are Planning to Use Loan:

Do you agree to the terms of the loan?:
(Yes or No)

Do you acknowledge that if you don't make a monthly payment, that your balance to pay back will increase?:
(Yes or No)

Do you also acknowledge that if you do not make a full payment for the month, that your balance will increase, as mentioned in the missed balance or partial payment made section listed above?:
(Yes or No)

Do you also acknowledge that you need to contact me, if you are having issues with being able to pay the monthly balance off?
(Yes or No)

Do you also acknowledge that you need to make sure all content you post, is of good quality, and is posted in their correct areas?:
(Yes or No)

Thank you for consideration in using this service!

 

[Reedex]

Loan amount:50 RIF
services: Rif to naira exchange
Link : https://indexforum.com/threads/exchange-rif-for-naira.7410/
Terms of loan: I agreed to all the terms of the loan as stated above .

 

[Joshua Farrell]

Loan amount:50 RIF
services: Rif to naira exchange
Link : https://indexforum.com/threads/exchange-rif-for-naira.7410/
Terms of loan: I agreed to all the terms of the loan as stated above .

Two issues here. First, you did not fill the form out completely. I know I asked questions that is a breakdown of agreeing to the terms, but I feel it is needed. Second item, I feel like you are just requesting the RIF, just to cash out and have the cash available for the thread. If I am not mistaken, that falls under the intro area of what I wrote, as using it to just withdraw. So I am flat out refusing this request.

 

[flower]

Two issues here. First, you did not fill the form out completely. I know I asked questions that is a breakdown of agreeing to the terms, but I feel it is needed. Second item, I feel like you are just requesting the RIF, just to cash out and have the cash available for the thread. If I am not mistaken, that falls under the intro area of what I wrote, as using it to just withdraw. So I am flat out refusing this request.

If that's what you thought, no problems.

 

[Joshua Farrell]

If that's what you thought, no problems.

Are you lens? No?

 

[flower]

Are you lens? No?

I also wanted to apply to carry out exchange to Naira in the trading section. Since it's not available. Then it's fine

Post automatically merged: Feb 9, 2023

Using the loan for a business isn't a bad idea.

 

[Reedex]

Two issues here. First, you did not fill the form out completely. I know I asked questions that is a breakdown of agreeing to the terms, but I feel it is needed. Second item, I feel like you are just requesting the RIF, just to cash out and have the cash available for the thread. If I am not mistaken, that falls under the intro area of what I wrote, as using it to just withdraw. So I am flat out refusing this request.

If I fill out the detail of the form , will it still be possible to receive the loan? I opted for exchange of RIF to naira because I noticed that the exchange to naira isn't effective. The other time I try to make exchange, it was a pathetic situation.

 

[Joshua Farrell]

The whole reason why I quite literally stated:

Any requests for a large loan, whose purpose is to just cash out from the forum, will be refused service. No Exceptions!

Is due to the fact that the whole purpose of having a board here at RIF to trade for services, should not be just about transferring RIF to CASH. I will NOT loan out LARGE AMOUNTS to people whose sole purpose is to get it in cash.

Now, I will use the other loan thread for that purpose, but in order to avoid late fees in that thread, you need to negotiate a payment plan that would not default to the stated late fee schedule. But then again, that thread isn't for large amounts above what I have listed there.

 

[Reedex]

The whole reason why I quite literally stated:

Is due to the fact that the whole purpose of having a board here at RIF to trade for services, should not be just about transferring RIF to CASH. I will NOT loan out LARGE AMOUNTS to people whose sole purpose is to get it in cash.

Now, I will use the other loan thread for that purpose, but in order to avoid late fees in that thread, you need to negotiate a payment plan that would not default to the stated late fee schedule. But then again, that thread isn't for large amounts above what I have listed there.

I understand it clearly now. I will waite to receive payment from one of my investment offline, then I will start the exchange transaction. I know that it will be a tough situation for everyone trying to cashout their earnings in naira because the traders there aren't effective.

 

[Joshua Farrell]

Large Loan Service, reopened. Reminder, you cannot use this specific loan service to withdraw, due to the loan amounts available. Loaned RIF must be used to run your own service, hence having to pay monthly payments.

 

[Joshua Farrell]

Updated loan service, to include the following updates:

Fixed Payback Installments: Used to be 10 RIF Monthly, now reduced by half, to 5 RIF minimum to be paid back monthly.
Fixed Fees for Partial Payments Made: Used to be 5 RIF added as a late fee for partial payments. Reduced by half, to 2.5 RIF added to your current posted loan balance.

 

[Stardom22]

Based on what I am reading from here is that; you don't provide personal loans for that matter. What you offering for now are loans interms of Rif cash for business purposes only like sign ups for sites, posting on blogs or the forums, watching videos for Rif cash but not necessarily for doing direct exchanges for different paid to post forum currencies. If at all I have got you right.

 

[Joshua Farrell]

Based on what I am reading from here is that; you don't provide personal loans for that matter. What you offering for now are loans interms of Rif cash for business purposes only like sign ups for sites, posting on blogs or the forums, watching videos for Rif cash but not necessarily for doing direct exchanges for different paid to post forum currencies. If at all I have got you right.

It's available for everything, BUT cashing out from the forum, for gain in actual cash. The available for everything, includes exchanges between forum currencies, because it is expected that you would work on keeping a balance, not to cash out on it.

 

[Joshua Farrell]

Updated Loan Thread, to include smaller loans into the idea, and closed my other loan thread.

Notes on the differences between the two:
- Small loans are defined as any amount between 1 and 2.50 RIF. This is so that I don't give out the full amount needed to withdraw.
- Small loans will now have the option to payback, be done on a monthly basis.
- 300% initial fee tacked on to small loans. This is due to further issues with people not paying back loans. See the following bullet point on payback, even with the large upfront fee.
- Minimum monthly payback amount for small loans: 1 RIF, till paid back completely. This means that you don't need to pay the full balance back in the upcoming month, so long as you work on paying it back, on a monthly basis.
- Updated the fee system for this new addition to this loan service, which is a better fee system than that I was using in this archived loan thread, to being a solid fee system, based on whether or not you pay the minimum monthly payback amount, instead of daily fees.

Updated the Large Loans with the following:
- Upfront Fee updated to 100% of value loaned.

 

[Joshua Farrell]

To reinforce that this service is available, I am bringing this to the top to remind people about it, as people come back to the forum. All of my other services I had previously offered, is on hold, till I get this loan service back off the ground, and payments start coming in.

 

[Carson20t]

Do you have a list of all the people that failed to payback the loans,where they banned or do we have a clue who they are and whether most of them where from Africa?It would be better to publish the list so that we continue to hunt them and tip you if they are in other forums provided they did not change their user names.

 

[Joshua Farrell]

Do you have a list of all the people that failed to payback the loans,where they banned or do we have a clue who they are and whether most of them where from Africa?It would be better to publish the list so that we continue to hunt them and tip you if they are in other forums provided they did not change their user names.

Specific to this, @Yohanna is the person that gave me the worst with it and refused to pay back (even with the option to not have to pay it, but agreeing to pay it back regardless), told me he was going to pay it back and then promptly disappeared initially till I finally got a reply back on Forum Coin regarding it, then he told me I was trying to blackmail him into paying it back, and refused to reply to any of my attempts to contact him after that, asking him to make up his mind if he was going to honor his word and pay me back here as I had asked if he wanted to do so, or refuse.

Gave him plenty of options, which were:
1. Agree to kindly back out of the loan because of what was happening at the time, and I would erase it from my records;
2. Pay it back here, with the stipulation that I gave 1 additional month to not have to deal with the fee system at the time;
or
3. Be labeled as a scammer in my books, and never be able to participate in any future service I offer.

Guess what? He didn't like any of the options, and never told me why.

 

[relcap23]

I am saddened of this issue. This must be a friendly community and no room for cheaters. Sometimes we experienced collection problem but as long as the person has every intention of paying through showing up and letting us know then it's fine. Disapperance is what is not tolerable.

 

[Carson20t]

Very true and it does not set a good example and record,more especially building partnerships in the near future,it is sad sad with the turn out of events that a lot of clients defaulted on their loan obligation to remit back.The thing is that some people do not appreciate good innovation and are just not quality people with an have a character of entitlement to what was not theirs in the first place.I only hope going forward everything will flow and work out for you.You just need to put up the right measures for you.

I can consult and tailor an effective system that can profit you in this venture for free,in short you need the people to be held accountable and you need to target clients that will do everything in their capacity to ensure the turn out of events profits both you and them.If they are serious about getting access then they must be ready to share vital information and sign an MOU agreement with you.

 

[Joshua Farrell]

Oh well, we live and learn. I should have been more diligent on looking up his interaction history on the forums I knew he was on, to verify if I wanted to loan.

Atleast with how I reformatted it and combined it with my other loan offer, it should be a bit more attainable in making sure it is easy enough to have people pay it off, considering fees only add up on a monthly basis, and at minimum, it should be easy to pay back even a small loan, within the first month or two. That is even accounting for some general lack of activity for a couple weeks.


EDIT: Increased my max small loan up to 5 RIF. If things turn out for the better and I start getting payments back from loans on a regular basis, I will increase the small loans maximum back to 10 RIF, and decrease the initial fee to it.