Testing approval and withdrawal of a loan by the borrower
Last updated
Last updated
A vault reaches the approval phase automatically once the requested principal amount has been deposited by Investors. During this phase, the borrower needs to approve the loan. After approval, the borrower can withdraw the funds from the vault.
To test approval and withdrawal of a loan, you can follow the following steps:
Check in the Home Screens the vaults that are in the "APPROVAL" status.
Add the Borrower testing account to the Freighter wallet. You do this by clicking on the Freighter wallet Avatar at the top left and importing the Stellar secret key.
3. Go to the Borrow section of the application. If you have added the testing borrower account to your Freighter wallet, you will see the section that displays all the vaults that belong to the borrower.
Click on the Vault you want to approve to click on the 'APPROVE' button
Approve the transaction via Freighter and wait for the confirmation. Once the approval transaction has been confirmed by the Stellar Network, you will see a "WITHDRAWAL FROM LENDING POOL" that will allow you as borrower to withdraw from the Vault
Now that you have approved the loan as Borrower, you can withdraw part of all the assets of the Vault. To that you will:
Click on the "WITHDRAWAL FROM LENDING POOL" button. This will display a pop up screen that will allow you to enter the desired amount to withdraw.
Enter the amount to withdraw and click the Withdraw button.
Approve the withdraw transaction with the Freighter wallet and you are done!
