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What happens if the Borrower Defaults on a Crypto-Backed Loan? πŸ€”
What happens if the Borrower Defaults on a Crypto-Backed Loan? πŸ€”

Explaining the process that Lenme follows if the borrower defaults on a Crypto-Backed Loan.

Updated over 2 months ago

In case that a borrower defaults on a Crypto-Backed Loan.

Lenme will liquidate the crypto needed to cover the remaining balance owed to lender, pay the balance to the lender back and any other outstanding fees. πŸ’°

We will then return all remaining crypto balance back to the borrower's wallet. 🏦

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