Lending Services
Collateral Mortgages
The Collateral Mortgage is the best opportunity for customer to get land to build the home of business of their dreams. At .21% a day interest and easy weekly payments, the Collateral Mortgage is cost effective from the new resident to the seasoned one. Maximum 99% funding on loan with customer required to pay 1-10% down payment. Loan agreement completed at closing. Customer information is verified through the L&L Credit Agency, personal references, and professional references. Collateral is land only and will be verified with sim owner. Land is held by L&LBT avatar until loan is paid in full.
To apply for a Collateral Mortgage:
Contact an L&L Bank and Trust Financial Specialist for more details.
Secured Credit Card
The L&L Bank and Trust Secured Credit Card is a new product to Second Life and it seeks to change the way we do business. Customers wanting to establish a positive credit report for future endeavors can start with this product and your card will be supported by the LLCC network. Funds for the card will be used to open a 90 day CD that will be the basis for the card’s credit limit. Your card is usable anywhere LLCC is accepted.
The credit limit will be set at the initial deposit with incremental increases every month depending on the payment history of the card holder. Interest on the card is Prime plus 8.9% and payments are due monthly. A late fee of L$100 will be charged for each week a payment is late and all activity will cease on the card if payment is more than 14 days late. Minimum opening deposit is L$500. Customer information is verified through the L&L Credit Agency, personal references, and professional references.
To apply for a Secured Credit Card:
Contact an L&L Bank and Trust Financial Specialist for more details.
Global Credit Card
The Global Credit Card is the unsecured credit card offered on the LLCC network. This card is for customers with solid credit reports on the LLCA. Customers can enjoy a higher credit limit and a host of other benefits by being a Global Card Holder.
The credit limit will be set based upon the credit report and the request of the customer. Interest on the card is Prime plus 5.75% and payments are due monthly. A late fee of L$200 will be charged for each week a payment is late and all activity will cease on the card if payment is more than 14 days late. Customer information is verified through the L&L Credit Agency, personal references, and professional references.
To apply for a Global Credit Card:
Contact an L&L Bank and Trust Financial Specialist for more details.
Line of Credit
The L&LBT Line of Credit is a credit line that can be used for whatever purpose at anytime. It is not interest accruing but is available for that purchase of new shoes or just to have fun with the sploder. Customers can enjoy a higher limit than the Global Credit Card and are not limited to the LLCC Network.
The credit limit will be set based upon the credit report and the request of the customer. Interest on the card is Prime plus 3.75% and payments are due monthly. A late fee of L$300 will be charged for each week a payment is late and all activity will cease on the account if payment is more than 14 days late. Customer information is verified through the L&L Credit Agency, personal references, and professional references.
To apply for the Line of Credit:
Contact an L&L Bank and Trust Financial Specialist for more details.
