Apply for a Second Life Loan
Thank you for your interest in SL Trust Company (Second Life Trust Company). Prior to clicking on the Apply button to the left, please read this page in it's entirety.
Our mortgage and loan department will currently accepting loan application for the following purposes:
Please note that all loans must be secured by collateral within Second Life. This is mostly commonly Second Life land but the SL Trust Company (Second Life Trust Company) will also consider other collateral such as business and personal Second Life assets.
Please note that the SL Trust Company (Second Life Trust Company) will loan up to the following ratio's:
The current mortgage and loan interest rates are fixed rate, but are tied to the Bank of Canada prime lending rate.
All mortgages and loans are 60 days in length with renewal options based on payment history. For example, if you should require a L$10,000 loan for a period of 6 months (or 180 days), this loan will renew each 60 days under the discretion of the bank based on your past payment history.
All loans are subject to a L$200 processing fee which is payable at the time of issuance of the loan. This fee is charged to compensate for the title change of the land or asset.
Please note that prior to the advancement of the loan proceeds, ownership of either the land or asset shall be transferred under trust agreement to SL Trust Company. This fully functional trust and escrow company will administer the ownership of the asset while the loan is outstanding with the SL Trust Company (Second Life Trust Company). In the case of a land purchase, the SL Trust Company (Second Life Trust Company) will instruct the seller of the land that the SL Trust Company (Second Life Trust Company) will be providing financing along with instructions to the borrower on the required equity deposit.
Please note that in the case of non-land assets, ownership restrictions may prevent the borrower from using the asset during the term of the loan. This circumstance will be beyond our control and may be based on either technical restrictions from the creator of the asset or based on risk control as deemed by the bank. In this case, SL Trust Company shall securely store the asset during the loan period.
It is required that the assets (land or otherwise) be transferable to SL Trust Company for the SL Trust Company (Second Life Trust Company) to advance your loan proceeds.
In the case of default payment, the SL Trust Company (Second Life Trust Company) shall provide 24 hours for the borrower to remedy such payment default. The bank shall also levy a default payment charge of 15% (or L$200 whichever is greater) of the default payment which is to be paid with the 24 hour period. In the case of failure to remedy default payment, the bank shall then instruct SL Trust Company to proceed with the sale of the asset to remedy such default. Statement of asset disposition will then be provided to the borrower within 30 days with any applicable refund or remaining balance due.
For more information, please refer to the Loan F.A.Q prior to commencing with the following loan application.
Please note that the submission of fraudulent information is deemed an illegal activity within the SL Trust Company (Second Life Trust Company)'s location in the British Virgin Islands and well as the operational location of Vancouver, Canada. Your submission will include your computers IP address and such fraudulent information will be forwarded to the local police authorities as well as to Linden Labs security department.
Copyright © 2007 SL Trust Company and Second Life Trust Company, All rights reserved. The name SL Trust, SL Trust Co., SL Trust Company, Second Life Trust, Second Life Trust Co., Second Life Trust Company are registered ™Trademarks and are protected within.
SL Trust Company, (Second Life Trust Company) is
no way associated with Second Life or Linden Labs and we hereby respect and
honor the associated trademarks associated with the Second Life and Linden Labs