Each firm may at any time apply for a loan to increase its cash-on-hand.
Loan applications submitted during a period are processed at the beginning of the period,
before bids are evaluated, so a loan will immediately assist in meeting the owner's
requirement for bidders to have cash-on-hand equal to some percentage of the bid amount.
However, this also means that payments on outstanding loans are deducted from your
cash-on-hand before bids are evaluated, so be sure to take this into account.
Loans are automatically paid back in equal installment payments over the next several periods,
with interest charged on the outstanding balance. You are limited in the number of active loans at any
one time, and to a maximum amount for any individual loan. There is only one loan request
allowed each period, so if you make a second loan request during a period, it will overwrite
and replace your first request. You will be told the maximum numbers of loans, the maximum
loan amount, number of repayment periods, and the interest rate when you request a loan.