You follow a few simple steps to create an account with SALT. While SALT does not perform a credit check on borrowers, we do perform full Anti Money Laundering (AML) and Know Your Customer (KYC) verification among other screenings. Once a member has been verified as eligible to transact with SALT, a loan inquiry can be requested and processed.
- Loan Origination - A potential borrower works with the Loan Operations team to ensure all necessary application documents have been supplied.
- Loan Creation - A borrower sends collateral to the SALT collateral wallet and funds are transferred to the borrower’s bank account. Collateral remains the property of the borrower and any price appreciation or depreciation belongs to the borrower.
- Loan Payment - A borrower makes timely, periodic payments to the lender.
- Loan Completion - Upon payment of the loan, the borrower’s collateral is freely available for withdrawal.