Rebirth 79: I opened a bank in the United States

"Okay, okay, ladies, I have calmed down a lot. Thank you very much for your help. Here is your tip. Now please leave my office gracefully!"

Half an hour later, in Carter's office, Carter, sweating profusely, took out dozens of dollars and forcibly handed them to the two female workers standing in front of him, and "politely" asked them to leave.

This indescribable trade has existed since ancient times and has never been discontinued, nor can it be discontinued. Small places like Douglas will not lack the presence of these people, but correspondingly, market demand creates market supply.

How big can the demand be in such a big, small city? How high can the quality of these female workers be? If there is only one hole, it will be over...

But the calming effect was achieved in an alternative way!

The scene rewinds to three minutes ago, when Carter heard a knock on the door and couldn't wait to open the door. Two white women with heavy makeup and fishnet stockings, who were at least thirty years old and weighed 130 and over, were poking at her.

In front of Carter's eyes, what was even more disturbing was that one of the aunts actually wore purple eye shadow...

That guy is so vulgar and vulgar. Faced with such two peerless "beauties", how can Carter not be calm? How dare he not be calm?!

Finally, after spending half an hour and wasting two hundred dollars, Carter calmly sat back at his desk and called Goodman, who looked weird...

"Uncle Goodman, please show me the current loan information of Black Bank."

"Okay... um... are you done so soon?"

Goodman accepted the order, turned around and walked out... Halfway through, Goodman suddenly turned around and asked tentatively.

"roll!"

The young man's dignity seemed to be offended, and he pointed at the door angrily. Another half an hour later, this time it was the young man's turn to raise his head with a strange expression:

"Uncle Goodman, why are all the people who come for loans white? Don't we all have more than 20,000 black people in Douglas who don't need loans? Are they all so rich?"

"Huh? Black people? They...it's not that they don't come for loans, it's that they don't have any decent collateral for loans. As for guarantees, it's not that I don't trust black people, but that they are gang-like gangs who guarantee each other.

, if it were you, could you trust them?"

Goodman took a puff of Carter's scattered cigarette and almost choked to death. He never expected that Carter would ask such a strange question after reading the loan information for a long time.

Is this question strange?

For Carter, he thought it was normal. He was really curious why in all the loan information, the borrowers were all white and not a single black person. Even the depositors, there were very few black people, and there were more than 100 white people.

Among the depositors, there are only one or two black depositors. And they all have checking accounts, not even savings accounts.

Since he doesn’t want interest-bearing savings or loans, it’s hard for Carter not to doubt whether these black people are really rich. As mentioned earlier, due to the high inflation in the 1970s, loan consumption is more cost-effective than normal consumption in the United States.

Much more. Don’t take out loans. Well, let’s just say that black people don’t trust banks and dare not take out loans. What about deposits?

There is interest for depositing it in the bank, right? Even if it can't keep up with the inflation rate, it's better than not getting a dime of interest for it in your own home, right? As a result, these people neither take out loans nor make deposits, and they live like saints.

I can no longer eat grains!

In Goodman's eyes, it is a matter of course not to lend money to black people. I have never heard of any bank lending money to black people. They don't say anything about discrimination. With their little wealth, what can they use as collateral?

There is no mortgage, and the guarantor cannot be trusted, so why lend to them? Can you get the loan back after you lend it?

"Well... what you said makes sense. But there are so many black people in Douglas City, which is actually a huge potential market. What do you think if we implement unsecured loans for black people? Because there is no mortgage, we can raise the interest rate

,Then..."

"Are you crazy?! Give loans to black people? Or unsecured loans? They won't repay the money. You are not giving loans, you are giving welfare! You should run for president and give black people unsecured loans.

Once the loan is announced, all those black people will vote for you!"

Before Carter could finish saying "and", Goodman started to rise up. He didn't even care about the cigarette hanging from the corner of his mouth falling to the ground. He slammed the table repeatedly in excitement, trying to wake up this whimsical little boss.

"You open a bank! A bank! Not a welfare institution! There has never been a bank that lends money without collateral. Without collateral, even white people, let alone black people, will not repay the money!"

"Think about it this way, I, Goodman, am here to borrow money. If I mortgage my two-hundred-dollar watch to you and borrow 160 yuan from you, if I don't repay the money, my two-hundred-dollar watch will be borrowed from you."

Yuan’s watch is yours. I lost 40, but I don’t want to lose, so I have to pay back the money!”

"But now I don't need to mortgage anything. I borrowed 160 yuan and I don't pay it back. The watch worth 200 yuan is still mine. That means I earned 360 yuan! In this case, why should I pay back the money?"

Of course it’s because of credit reporting!

Carter almost blurted out, but then shut up. Indeed, later generations saw too much small-amount unsecured loans, so they subconsciously thought of using unsecured loans to expand their operations. But they ignored the issue of repayment...

But now that he thought about small loans in later generations, Carter realized another brilliant idea: repay in installments!

As mentioned before, there is almost no installment payment for loans in these years. They are borrowed for a certain number of years, and at the end of the period, the principal and interest are repaid in one lump sum. In this way, for the borrower, at a certain point in time

Taking out a large amount of money at once is a lot of pressure; similarly, for lenders, that is, banks and lending institutions, although this facilitates the recovery of funds, it is not easy to make a fuss about the interest rate.

After all, once the interest to be repaid is divided by the principal and the number of years, it is easy to find out what the actual interest rate is. As for installment repayment, especially after the advent of equal principal and interest schemes, 99% of borrowers

In fact, I don’t even know what standard interest rate I am paying back at.

Just at a quick glance, hey, the monthly repayments don’t seem to be much, and I can definitely afford it! So I borrowed the money in a daze. There are a lot of things you can do here, for example, what if you forget something?

If you pay it back, if it is overdue, there will be penalty interest, right? How much is the penalty interest? How much is the penalty interest plus your original principal and interest?

Carter himself couldn't figure out the secret behind this, but just looking at the future, almost no matter what platform has opened its own small loan business, he knew that the profits here would definitely be an extremely huge number!

As long as the debt collection problem these days can be solved, this kind of small loan business will definitely be another valuable profit point in addition to the rise in the federal funds rate! Moreover, the two seem to be linked...