Loan payments are due the 15th of each month. The monthly payment amount, as outlined in your loan documents, can be paid via ACH, Stablecoin, or Wire Transfer - we also accept collateral on the platform as repayment.
In the event, we do not receive payment we will liquidate from your collateral wallets.
You can set up automatic ACH payments that will be pulled from your designated bank account, which can be set up in your personal profile on the platform. You may wire in the funds to the repayment wire instructions listed on your loan documents. Please keep in mind both one time ACH or wire transfer can take 3-5 business days to process and must be initiated before the 15th of each month to avoid liquidation.
For stablecoin payments, we accept USDC, TUSD, and PAX. This is also the recommended payment method should you receive a margin call on the loan. You can also set up automatic payments for the crypto you have on the platform.
As per your loan terms, any early payments of scheduled payments will be applied in the order specified of fees, interest, and principal due - any remaining amounts are applied directly to the principal. These applications will first be applied to the upcoming scheduled payment per the amortization schedule unless this scheduled payment has already been made.
Please reference your loan documents for specifics.