mar 19, 1693 - Tontine Loan
Description:
- Method for raising capital where investors pay into a fund to provide for a loan, which is paid back with interest- Each investor receives annual dividends, but as each investor dies, their share is allocated to the surviving members, increasing their yield
- 1693 Tontine Loan seen as a reasonable success, although it yielded £108,000 (less than expected)
Added to timeline:
Date:
mar 19, 1693
Now
~ 333 years ago