What are loans?
A loan is money you can borrow from the bank. The money you borrow will be added to your cash. When you open the bank you will see the loan page. Here you can take a loan. Loans are often used as quick cash for a short period to invest.
How to take a loan
To take a loan form the bank you have to fill in the form on the right side of the screen. The amount of money you want to borrow can be filled in in the empty bar. There is also a button that you can use to fill in the maximum amount that you are able to borrow. When the amount is right, you can take the loan by clicking on 'I agree'.
There is a limit on what the bank will give you. The default amount (level 1) is €50.000,-. You can increase this amount by upgrading your bank level it. The upgrade will cost XP points. For example, when you have bank level 1 and you upgrade you loan limit to level 2 for 2000 XP. The loan limit will be increased from €50.000,- to €100.000,-. Now you are able to loan up to €100.000,-.
The formula: €50 000*2level-1
There is a note to the upgrading. Your company value should be at least 4 times the loan limit after upgrade in order to increase the limit. The value that your company should have is displayed in the paragraph 'increase your loan limit' in the left corner. In the right corner is displayed what your current company value is.
Loans are not for free. When you have a loan, you will pay a daily interest to the bank. The default interest is 5,0%, but this will increase when you increase your loan limit. The increase amount is 1,0% per level. For example, when you have bank level 2, you are able to loan €100.000,- instead of €50.000,- but the loan interest will be 6,0% instead of 5,0%. You can reduce loan interests by training accountants, with 1 % interests reduction per level. Just make sure they're hired.