Announcing the first Loan via bitshares. “CONSTRUCTION” token.My brother in law is a civil engineer in Ioannina city – Greece. He has recently undertaken the reconstruction of a pedestrian road in his city due to be completed within 14 - 15 months. Unfortunately the way the Greek system works is that he has to pay first from his own pocket, complete portions of the construction and then he gets paid by the municipality of Ioannina city. This has cash flow implications. In addition the Greek banks do not lend anymore any loans, even in this case that he is guaranteed to get paid by the municipality of Ioannina. The funding for the completion of the construction is secured throughout the duration of the project from the annual budgeted municipal expenses.
The approved budget for the project is 150,000 euros. Due to the cash flow difficulties mentioned above we have created in bitshares the “CONSTRUCTION” token. Max targeted amount to be raised is $10,000.
You can purchase
“CONSTRUCTION” until 15th October at the price $1 each. After this date “CONSTRUCTION” tokens will not be available for sale.
https://bitshares.openledger.info/#/market/CONSTRUCTION_USDI will be managing the “CONSTRUCTION” funding and will buyback all the sold tokens as per the below schedule.
Date % of sold tokens bought back Buy Back price
1-Jan-17 2% 1.02
1-Feb-17 2% 1.02
1-Mar-17 2% 1.02
1-Apr-17 2% 1.02
1-May-17 2% 1.03
1-Jun-17 2% 1.03
1-Jul-17 2% 1.03
1-Aug-17 2% 1.04
1-Sep-17 2% 1.04
1-Oct-17 2% 1.04
1-Nov-17 2% 1.05
1-Dec-17 2% 1.05
1-Jan-18 76% 1.11
I understand that some people may want to exit their investment earlier so on the basis of first come first served they may be able to exit earning smaller return on their investment. It goes without saying, if there is no demand to buy back earlier the tokens, any remaining tokens each month will move to the buy back order of next month. Some people may exit earlier earning 2%-5% but those who exit upon expiry of the term will receive 11% on their investment. If during the project, there is no cash flow issue anymore, we will buy back all the tokens at $1.11 on an earlier date and repay the full loan.
I understand that this is based purely on trust and that I will repay the loan. As most people know, I am a long term bitshares investor from the very beginning and I do not intend to scam anyone and hurt my reputation.
This should be considered a secure investment of your bitusd with high return up to
11%. Your support will be greatly appreciated!
Please let me know if you have any questions or anything is unclear.
Thank you very much
mf-tzo