picard

I read and reread you message and at first I thought you were right but then I realized that you don't need to reloan every two months to generate the $250 per month payments... You get your principal back every 4 months, but if you just reloan it and pretend like you never actually got the principal until the end of the year, the abstraction shown in the diagram still looks right to me, but I'll ponder this some more.

I can say I learned a lot from the note business... Mainly that I didn't belong in it...

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sharonsopinion

LOL Picard! I don't belong in that business either. My first note deal was so much work for so little reward that I figured out I could have made more money flipping burgers! It was also a lot of stress, because the seller was sour and mean. That was the end of that business for me.

Now back to the topic at hand. I'm sorry for sidetracking, everyone!

JMO,
Sharon

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picard

Hi Sharon,

I pondered your message some more last night and this morning and still think the diagram for the new program and the calculations are correct.

My take is that this is what actually happens:

month 0 - loan $1000 (down arrow on diagram)
month 2 - collect $250 interest (payment up arrows on diagram)
month 4 - collect $250 interest & $1000 original principal
month 4 - reloan $1000 (same day as you get your payout)
month 6 - collect $250 interest
month 8 - collect $250 interest & $1000 original principal
month 8 - reloan $1000 (same day as you get your payout)
month 10 - collect $250 interest
month 12 - collect $250 interest & $1000 original principal (final payment and FV arrow on diagram)

Since you are reloaning principal in months 4 and 8, the net effect of this is like leaving the original principal in for 12 months. On months 2, 4, 6, 8, 10 and 12 you would collect a $250 payment which is illustrated in the diagram and the calculations.

If I'm missing something, please let me know. TIA.
.

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picard

The (old) site is now accepting loans into the new temporary PLP until the new site is ready. Just did a loan from my virtual cash balance a couple of hours ago and it seemed to go through just fine.
.

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sofaking

I'm considering joining program but may I'm too late am I? hopefully someone can advise me if it's still a good idea to join this program at this stage.

I have a severe case of ponzi-itis at the moment. I'm finding it very difficult to find a decent program...

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4ebl

I can fully appreciate your concern because there are so many (over 95%) that are scams. But I can tell you that EBL is VERY different.

You can take a look at the due diligence I pulled together, which includes so much work that so many have done, with lots of experience in this industry, that captures what sets EBL apart, including the facts that they are based in the US, owned and operated by US citizen, backed by legal contracts that clearly define the unsecured nature of the loans, so it should keep the SEC at bay, has been around since Feb 2006, has excellent support that are very accessible and transparent, via e-mail, forum. Skype, and phone, by real people with real addresses, with long term plans for this program.

Though nothing is 100% in this world, they have a lot going for them and a solid tract record to date, with lots of things that they are doing right that are confidence builders.

I hope that helps.

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sofaking

ok, thanks for the info. I'll have a proper look.

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sharonsopinion

HI Sofaking,

I agree with 4ebl and he has put together a lot of information. In addition, you may want to read the articles, including an interview, about them at NoBS HYIP Blog. They are listed at No Bullshit HYIP Blog, A Part of No Bullshit Network, Search = EarnByLoaning.

It's best to read as much as you can and ask questions about anything you're unsure about. That way you can make an informed decision, rather than investing blindly.

JMO,
Sharon

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sofaking

thanks Sharon. I'll do some research now.

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picard

When doing due diligence on these kinds of programs, it is a good idea to pull information from many different sources as confirmation. This forum is an excellent place to start, but don't stop here. I visit several different forums as well as the programs website. In the case of EBL, you can also visit the PayPal website and learn what is required of merchants.

Interestingly, you won't find EBL on monitoring sites because they don't pay monitors to list them. This is another point to consider when looking at programs.

Two last points to consider:

1) Realize that the best due diligence in the world still will not guarantee success (nothing ever does), however it will improve your odds of success.

2) Your gut should also factor into your decision after you have educated yourself thoroughly. Our intuitions are still important assets to utilize along side our intellect, but intuition works best when you've educated yourself as much as you possibly can.

Best of luck.

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