Borrow Loan
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Borrowing a certain amount of principal as a loan requires a borrower to either create a Borrow offer for lenders to countersign and provide a percentage of the principal needed, or Borrow from lend offers already created by other lenders.
Creating a Borrow offer for lenders to join:
Go to Portfolio/My Borrows and Click on the Create Offer button.
To create a Borrow Offer User will be prompted to provide terms specifying the , , , , .
On providing the terms, User can click on the Create button to proceed.
Note: Offer expiry time duration on a borrow offer cannot exceed 24 hrs, Borrow offer owners are require to re-activate offers after every expiry to keep it active for other lenders to discover.
Confirm and Approve Borrow Loan terms to proceed.
Offer Created page, Click on the Go to Offer button to view the offer created.
Page for the Borrow Loan offer created.
Borrowing from an already created Lend Offer created by a Lender:
Go to Discover/Lenders to discover the most suitable Lend loan offer you're willing to borrow from.
A Lend loan offer page, Click on the Borrow button to borrow from the lender.
On Clicking on Borrow, A pop up to set the percentage of the principal to be borrowed and collateral amount needed are prompted. Approve inputs to proceed.
If approving is successful, a Borrow Loan will be automatically added to the Loan box ( the lender can payback here ).
