Getting started as a Borrower on TrueFi
Borrowers can find capital at competitive rates from a network of global liquidity on TrueFi.
Using TrueFi's infrastructure, borrowers can access capital markets 24/7 with faster settlement than traditional finance systems.
Borrowers on TrueFi also have an opportunity to build their public "on-chain" financial reputation and position themselves to access more capital at better rates moving forward.
Borrowers on TrueFi include leading institutions in the crypto industry, as well as "real world finance" borrowers, such as fintechs and credit funds.
See below for recent press on TrueFi borrowers: https://www.pymnts.com/loans/2022/mexican-fintech-uses-defi-to-provide-collateral-free-loans-to-small-businesses/
Borrowers follow a simple process to receive their first loan on TrueFi:
Onboard with a portfolio manager.
Borrowers can communicate with managers directly, or apply via the form at truefi.io/borrow to get connected with potential managers in the TrueFi ecosystem.
Complete KYB and negotiate loan terms with a portfolio manager.
If you are a prospective borrower, you can request information or post a borrow request at https://forum.truefi.io/.
In the typical borrower experience, borrowers in managed vaults follow the steps below:
PM and Borrower negotiate loan terms offline. PM then submits terms on-chain for review.
Borrower accepts terms by executing an on-chain transaction (see screenshot below).
PM disburses funds to borrower's address. The borrower receives funds in their wallet.
Borrower repays loan at, or before, time of loan maturity.
How to repay a loan:
Borrower goes to
Borrower clicks 'Repay' button shown on loan details
Borrower is first prompted to approve transfer of funds (must complete approve() on-chain transaction).
Borrower is then prompted to transaction. This transaction transfers funds back to the portfolio and repays the full amount owed on the loan.
Once this transaction is complete, the loan is marked ‘repaid’ automatically and no further action by the borrower is needed.
