114 ARKHAM LOAN AGENCY
621 N Garrison Street
A tiny establishment specializing in higher-risk loans, i.e., the sorts of loans that the local banks will not place. Accordingly, interest rates are high, and the firm is quick to repossess when clients cannot meet repayments. In the main, their clientele is law-abiding but desperate, having been turned away from Arkham’s banks. Thus, immigrants from Ireland, Italy, Portugal, and Poland are likely customers, as well as working class or poor families in need of some quick cash.
Getting a Loan
Meetings are by appointment only and they do not accept walk-ins. Aidan Fitzgerald arranges all the loans, supported by his secretary Maeve Maloney. Generally, loans in the range of $50 to $250 are the bread and butter of his business, but Fitzgerald has on occasion loaned in the range of $1,000 to $10,000 where he sees the customer can a) afford it, or b) owns enough assets that can serve as collateral on the loan (such as their car, home, etc.). Interest rates are high, around 6–8 percent (compared to the standard 4–5 percent at one of Arkham’s banks). Payments are spread over a period of no more than 24 months, with repayments beginning one month from the receipt of the loan.
An investigator doesn’t need to convince Fitzgerald—he’s happy to loan money to anyone, but he won’t loan large amounts (thousands) to anyone with a Credit Rating below 40 percent. If the deal or applicant looks like it will cause him a headache, Fitzgerald refuses the loan.
Late payment is frowned upon. Non-payment invites a “friendly” visit or summons from Fitzgerald to arrange payment (usually within five days). Continued non-payment results in a final warning visit with threats; thereafter, Fitzgerald takes legal action. In some cases, to avoid delay or legal complications, he commissions a couple of toughs to repossess/take assets to repay the debt (in part or in full). Depending on the circumstances and amount owed, they may take harsher measures, up to and including physical harm. Note that investigators taking a loan and then skipping town will find a “welcome” reception awaiting them when they eventually return to Arkham.
Notable Folk
Aidan Fitzgerald, 36, is the owner.
Maeve Maloney, 25, provides secretarial support.
Historical
To ensure a “smooth-running business,” Fitzgerald pays protection money to mobster Danny O’Bannion (Lucky Clover Cartage Co., 412 other than this, the firm has no relationship with O’Bannion’s crew. Those looking for a loan to help finance criminal enterprises know to go directly to O’Bannion rather than waste their time with Fitzgerald’s firm.
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