This page details the prerequisites for borrowing, how to a request a loan, what a successful loan request looks like and how to repay a loan.

Borrowing

See this page (link) for a detailed breakdown on how to borrow (taking a new loan). Note there are a number of requirements a user must meet prior to being issued with a loan. Similarly, there are number of restrictions on new borrowing. These are set out in more detail below.

Repaying

A user can repay their loan from any address linked to their NFCS. See this page (link) for a detailed breakdown on how to repay a loan.

Prerequisites to borrowing

To ensure a user can successfully request a loan they need to satisfy several conditions. Specifically a prospective borrower must:

• Have minted a Non-fungible credit score (NFCS)
• Have an eligible credit score.
• Request the loan from their primary wallet.
• Have sufficient collateral on the protocol or in their primary wallet.
• Select a correct set of loan terms
• Select a loan amount within their available credit line

Limits on borrowing

These are several limits that can restrict the number or size of loans issued by a lending pool that have been put up in order to manage credit risk:

• Minimum loan size
• Maximum amount available for borrowing from a single pool
• Maximum amount borrowed per NFCS
• Maximum number of loans
• Maximum loan size