Loans – is a service that allows Borrowers and Lenders taking and issuing loans without intermediaries (directly).
You can get a Bitcoin loan and pay for your purchases or exchange them for another currency and spend at your discretion.
To make a Loan Offer the Lender should create an Offer in her account and indicate the Amount, Term and Daily interest rate.
After the offer is listed in the listing, the Lender will receive requests from the Borrowers, which she can accept or decline. In case the loan is accepted, it is issued instantly. The funds will be transferred from the Lender’s account to the Borrower’s account.
To receive a loan, the Borrower has to make a loan request and indicate the Amount, Term and desired Daily interest rate. The system automatically selects the Offers corresponding to the required parameters. The Borrower simply has to choose one of the options and send the request for the loan. In case the request is accepted, the funds will be instantly credited to the account.
In case the Borrower did not choose any of the proposed options, she can list the request in the service’s listing. The request will become available to many current and potential Lenders.