earnbyloaning.com at Nobullshit Network Forum

NelsonN · 03-24-2007, 11:18 AM

Earnbyloaning.com

EBL is a private lending program where WE borrow money from you through a Loan contract. We are the very FIRST company of its kind that uses actual contracts to make your money the safest it has ever been on the internet. There is no magic pill, or, slight of hand tricks to this.

With EBL, we return your principle along with the rate of interest set in your contract. We are obligated to because this is a loan, it's not a blind investment. Hence, the required contract backed by the U.S. judicial system.

There is a distinct perception in this industry of scams, and rightfully so. The dishonest program owners DO NOT want you to find out about this program. WHY? Because they know they would loose your money and their opportunity to help you loose it.

Diversity is the key to any sound financial plan. A smart financial plan would include a secure and safe environment. That is what EBL is to you.

30 days PLP 1
Loan Plan Principal Funding (US$) Daily Rate (%)
PLP 1-1 $30 - $100 0.20
PLP 1-2 $101 - $500 0.30
PLP 1-3 $501 - $1,000 0.40
PLP 1-4 $1,001 - $2,000 0.50

120 days PLP 2
Loan Plan Principal Funding (US$) Daily Rate (%)
PLP 2-2 $150 - $250 0.35
PLP 2-3 $251 - $1,000 0.45
PLP 2-4 $1,001 - $25,000 0.55

1 year PLP 3
Loan Plan Principal Funding (US$) Daily Rate (%)
PLP 3-2 $150 - $250 0.40
PLP 3-3 $251 - $1,000 0.50
PLP 3-4 $1,001 - $25,000 0.60
PLP 3-5 $25,001 - $50,000 0.65

**sharonsopinion** · 03-24-2007, 06:39 PM

I'm seriously looking into earnbyloaning. I'll let everyone know the results and/or interview with the owners in NoBS HYIP Blog and in here.

In the meantime, I'm copying this thread, without the ref link, to the discussion folder in order to open up the floor for discussion.

JMO,
Sharon

Edited to add my thoughts so far...
From what I've read so far, this program looks like the real opportunity and I'm very excited about it! The two things about this program that is unique is: 1) They have people loaning them money sign a Lender's Agreement. 2) I haven't found any language that says "returns are not guaranteed".

A lender's agreement is a legally binding document, that will hold up in court for both US and non-US citiaens. I'm going to try to have EBL's lender agreement reviewed by a contract lawyer to make sure that it includes everything necessary to be legally binding.

If you know anything about EBL, please let us know!

NelsonN · 03-24-2007, 07:15 PM

This is an outline I posted some days ago about some of what was discussed in EBL's last conference call.

For those who missed the conference call last night at 7 PM (March 17th, 2007, US Eastern Time), let me tell you that you missed out on some great information as well as fun.

I feel a lot better about EBL after attending. We now know that EBL, the company, is so strong now it has a reserve fund. If the company had to pay every member’s loans (principle plus interest) right now, there are enough funds and then some. (Please note that members are making personal loans to EBL/Quest Holdings Inc.; and as such, does not position EBL/Quest Holdings Inc. in the Registration need for SEC licensing because they are not consulting or providing investment advice.)

There was a lot of talk about the new software that is being coded right now. Among the features of this new software is the ability to electronically sign your contracts--no more scanning, faxing, or mailing in your contracts. The new software will also keep track of your finders’ fees, your loans, as well as your referrals' loans.

One of the things I did not like, but is now a necessity thanks to uncle Sam is that due to the fact that EBL was investigated by homeland security and PayPal for a $10,000 international deposit via PayPal (which they passed with flying colors), EBL will now in the future be forced to keep records of it's members via photo IDs and proof of residence (address). Similar to what Asian Pay and Alert Pay do right now.

A new VIP plan will also be offered in the future for those who would like to take more risks. You will be able to negotiate the return rate on your loan and whether you will like it to be a variable or fixed rate of return. Of course more info on this and who will qualify will be made available when the plan is introduced.

There was more detail, I am just giving you an outline of what I remember was discussed. In the future, if you are a member, I would recommend highly that you try and attend these conference calls; you can attend through Skype for free!

Edited 10/7/2007 per a request from EBL support.

**opie999** · 03-24-2007, 07:27 PM

Nelson, have you been in EBL long enough to receive a payment?

I checked out the site and listened to the interview in it's entirety. One thing that stood out for me was the claim he (Craig?) reports to the IRS. If this is true, US investors will receive an annual form 1099 from EBL. The program has been in existence over a year so someone should be able to confirm this. All US investors should have already gotten their 1099 from EBL for tax year 2006.

NelsonN · 03-24-2007, 07:55 PM

I made a loan on Feb 25th, so I will not be getting any interest reporting forms. I don't think I will be receiving a 1099 Int next year either. I live in Puerto Rico.

There is a post concerning how the money reported in the 1099 Int is calculated, obviously it was directed at US lenders, kinda of telling them to be prepared that the 1099 Int forms are on their way. It was posted on Feb 19th.

The problem with many EBL lenders is that they keep to themselves. Somehow they are so confident that the majority don't even post about getting paid, etc., it's always the same few people.

**opie999** · 03-24-2007, 08:23 PM

Quote:

Originally Posted by NelsonN

I made a loan on Feb 25th, so I will not be getting any interest reporting forms. I don't think I will be receiving a 1099 Int next year either. I live in Puerto Rico.

Ok. I was unsure about whether investors receive 1099s in Puerto Rico. If so, you'll be getting it near the end of 2007 or early 2008 depending on how diligent the admin is. Please keep us posted.

Quote:

Originally Posted by NelsonN

The problem with many EBL lenders is that they keep to themselves. Somehow they are so confident that the majority don't even post about getting paid, etc., it's always the same few people.

Yeah, "keep to themselves" syndrome is the norm for HYIP investors, as you are aware. A lot of these folks have a rude awakening in store when they get their first 1099 in the mail. At least in the US.

**Jude** · 03-25-2007, 02:08 PM

This is interesting. We'll wait for an interview response which will be initiated by Sharon. On the other hand, the response to some questions by the admin to a user in their forum seems really really rude though.

NelsonN · 03-25-2007, 02:46 PM

LOL! Yeah, that's Kerry. He has already had bad experiences with people who come from the HYIP arena and just start asking questions and pretty much not even try to listen. I understand how he's gotten that way.

I have had to defend myself on some other boards as well. I felt like I was in the twilight zone recently when I called gergory on his BS at the Private HYIPs forum. I was pretty much accused of trying to snuff out his freedom to speak, LOL!

This gregory guy just made me blow my top off.

How are you gong to do DD by insulting the admins and then threaten them to spread false information without having given the admins a chance to even respond?

Hell, even I didn't want to deal with gregory anymore.

BTW, I sent gregory to them in the first place.

**Jude** · 03-25-2007, 03:13 PM

Quote:

Originally Posted by NelsonN

LOL! Yeah, that's Kerry. He has already had bad experiences with people who come form the HYIP arena and just start asking questions and pretty much not even try to listen. I understand how he's gotten that way.

I have had to defend myself on some other boards we well. I felt like I was in the twilight zone recently when I called gergory on his BS at the Private HYIPs forum. I was pretty much accused of trying to snuff out his freedom to speak, LOL!

This gregory guy just made me blow my top off.

How are you gong to do DD by insulting the admins and then threaten them to spread false information without having given the admins a chance to even repond?

Hell, even I didn't want to deal with gregory anymore.

BTW, I sent gregory to them in the first place.

Ah that doesnt happen with me. Either someone else gives the news and I report and I have the knackings or that it's someone insulting me instead of the other.

I learn to take the high road since quite long ago. Either try to know the truth/ report as reported and ignore such noises; else you'd be having high blood pressure all the time!

NelsonN · 03-30-2007, 12:33 PM

Well, the RegisterFly mess has finally reached Earn By Loaning. Around March 28 they lost the certification of their security certificate. They are working on fixing the problem.