Asset-Backed BTC or ETH Loan Up to $100M No PG

Provides bitcoin holders with 3 year, interest-only non-recourse loans secured by the value of their bitcoin. Since the loans are non-recourse, no credit check or personal guarantee is required. In the event of an uncured default, we keep the bitcoin, and the borrower can walk away from the loan without impacting their credit score.

Type of Coin:
- Bitcoin
- Ethereum

Underwriting Guidelines:
Coin value will need to maintain a minimum price per coin for the last 60 days within a margin (to be determined at the time of request)

Basic Term of Loan
- The coin will be used as collateral.
- NO PG
- NO corporate guarantee
- Simple interest of 5-7%
- Payment in IO is paid quarterly.
- Loan amounts $1M to $100M.
- The typical Term is a 3-year Term with a 2-year Lockout (which means you cannot repay until the lock-up period is over)
- Loan to Value is 40-80%
- LTV is calculated on today's coin price, multiplied by the number of coins, and then multiplied by LTV for a loan amount.
- The coin is held in a CoinBase wallet (the borrower will need to transfer it into our wallet, and it will be returned once the loan is paid)
- Foreign Nationals accepted

Information Required to return an LOI and set up a phone call:
- Coin Type
- Number of Coins
- Loan Amount
- Name of Account of Coin
- Name of Person to Sign LOI
- Phone Number
- Email

Docs to close and Fund - Not Required until we have signed LOI but before funding
a. Wallet
b. ID or Passport of the Signatory of the Company
c. KYC Form
d. Use of Funds
e. Entity Documents – If a company owns coins.
f. Brief Explanation of how the coin was obtained