Timely payment of your SALT loan helps us in our ability to deliver great products and services to the SALT community. There are fees associated with late and missed payments. These terms are clearly described in the Master Lending Agreement which the borrower reviews and agrees to before being allowed to transact on the Salt Lending Platform. If a payment is missed completely, SALT will liquidate a portion of the borrower’s collateral. The missed payment will be made to the Lender in accordance with the Master Lending Agreement. The remaining borrower collateral is kept intact in the SALT collateral wallet and the loan proceeds regularly. We encourage you to set up automatic bill pay, which helps you avoid missing a payment.
Articles in this section
- How does a SALT loan work?
- What can I use a SALT loan for?
- What happens if I fail to repay my loan?
- How is a SALT loan different from credit card debt?
- What is a blockchain-backed loan?
- Is a SALT loan secured or unsecured?
- Are loans personally guaranteed by borrowers?
- What is the minimum and maximum I can borrow?
- How do I make my loan payment?
- Are there any origination or prepayment fees?