Trilobyte
  • 📖Trilobyte Documentation
  • User Docs
    • Introduction
      • What problem is the protocol trying to address?
      • Use case examples
    • Vault Overview
    • For Borrowers
      • The Vault phases
        • The Funding Phase
        • The Approval phase
        • The Lending Phase
        • The Completed Phase
        • The Closed Phase
        • The Default Phase
      • Receiving a loan
    • For Investors
      • Loan financing
      • Withdrawals
    • Vault payments
    • Protocol Revenue and Fees
    • Default Procedure
    • Governance
  • TECHNICAL DOCS
    • Smart Contract Architecture
  • Stellar futurenet tests
    • Freighter wallet
    • Testing information
    • Testing deposits and withdrawals for a Vault in Funding status
    • Testing approval and withdrawal of a loan by the borrower
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  1. User Docs
  2. For Borrowers

Receiving a loan

NOTE THAT:

Borrowers that are new to the protocol will need to apply for approval.

Borrower experience

A typical borrower experience will be as follows:

  1. Borrowers apply for approval of a loan to the Treasury. During the approval process, Borrowers are required to be verified and provide information about their business. Additionally, they also need to provide information about the Payment Actors and the cash flows that will constitute the loan repayments.

  2. The Treasury, the Borrower and the Payment Actors agree on the terms of the loan outside the protocol via a legal contract. Investors may also participate in case of a permissioned Vault (in which case the Treasury does not need to be present). The terms of the loan will include, but are not limited to:

  • The principal amount and currency of the loan.

  • The maturity date.

  • The interest rate.

  • Repayment period (payment frequency).

After defining all these parameters, the Treasury creates a Vault for the transaction that is ready to receive funds from Investors.

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Last updated 2 years ago