Executive Loan Program

Posted on November 13, 2008

Description:

Many companies offer loan opportunities to the highest level of management as a perk, allowing c-level executives to borrow money at rates that are more favorable than a traditional bank. As all KmikeyM funds are ear-marked for projects, and funding of the project (web hosting, etc.) is covered almost entirely out of pocket, we would like to offer low interest loans to management when needed.

Additionally, offering these loans is a way to increase the value of KmikeyM funds that have not yet been used. The terms of the loan would be a 10% flat fee on all money loaned out, no matter how fast the money is paid back. Loans would be limited to $300 with a repayment schedule of no less than $110 per month.

Management encourages a yes vote.