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IGB Loans

IGB Loans are a useful, but very risky thing. You can take a loan to upgrade your ship, build planets, upgrade SD, or pay off a bounty. The thing is, you only have 24 hours to repay the loan and the loan fee (10% of the loan amount) and any interest on the loan, which is tabulated daily. If you are overdue on a loan, you cannot use an upgrades port, a devices port, or a spacedock. The real problem with this, is if you lose a ship while you have a loan overdue, you will not be able to buy an escape pod, or upgrade the engines on your pioneer. If you have a ship in storage when this happens, you will be towed from Federation space, and left sitting unprotected without an escape pod. Beyond this, you have to have three based planets before you can get a loan, of up to 25% of your networth.

Okay a little update since I have a few more minutes to write:

The biggest thing I will stress about loans, is that you need to check the game settings, and understand how they effect your ability to repay them. Primarily, you are looking at the amount of colonists needed to produce credits on a planet, the colonist birthrate, the colonist limit for a base planet, and the amount of colonists added per tech level, the one-time loan fee, and the loan interest. Additionally, looking at the max dignitary settings, and the credit production multiplier are useful. Actually logging into the game and getting a feel for the average port prices of items helps too, if you are planning on subsidizing loan payments by trading. I'll try and go into these in a little more detail in the actual game settings section, but basically, a server that has low colonists needed to produce a credit (The main game is 100, which is high, usually 25-50 is a good number for faster games and better loans) has a high birthrate, and ideally, high max colonists for both a base planet and for each tech level, would be ideal for loans. Also, being able to use dignitaries to help birthrate and/or credit production will help pay loans back. The default is 5 digs per planet, though I have seen 10 on some servers. The more, the better, as you can have more dignitary bonuses helping your income. The credit multiplier will effect how much more credits you make as you get closer to 100% max credits.

Uh, basically, what I try and do is only take a loan if I can pay it back within 12 hours at my current pace. To figure this out, I have to work out the birthrate on my planets for the next 12 hours, and the credit production. If planets are not going to cut it, I also check available turns within the 12 hours, and see what an average I could expect from traderoutes could bring in. Alternately, if I am attacking, I have to calculate how many credits are on the enemy planets, how much they could be expected to make for me if I plan on keeping them, as well as all my own planet calcs, to make sure I can repay the loan.

Depending on the server settings, I try to use loans early and often, as they are of great benefit starting out, with the proper settings and planning. I am usually the first player on a server to reach most benchmarks for hulls, when I am trading/building, and am frequently able to double or triple the 2nd place player's score, with the effective use of loans. However, some servers are not loan friendly, and some aren't made for getting max loans, so you actually have to see what you can afford.

Created by: MaxGriswald. Last Modification: Sunday 30 of March, 2008 22:09:22 CDT by MaxGriswald.