Dick really didn't want to miss this opportunity for collaboration, so although these terms were somewhat harsh for Breton Bank, he was still willing to accept them.
Hearing Dick say so, people like Edward Doheny naturally had no objections.
The two parties quickly agreed on the loan details. In this loan project, they borrowed a total of eight million US dollars from Breton Bank, with Pandora Oil Company, Pan American Petroleum Company, Sinclair Oil Corporation, and Bowei Petroleum Company each taking on two million US dollars.
The loan term was three years. During these three years, the four oil companies only needed to pay the interest to Breton Bank each month. After three years, the companies would repay the principal in full!
It was a pleasant negotiation; in just one morning, both parties had already reached a consensus.