Loan Management

We strive to make managing your loans on Maple as simple as possible. As a Borrower there are three essential actions:

1. Creating a Loan

2. Making a Payment

3. Refinancing a Loan

Creating a Loan

The first step in the loan process occurs off-chain. Borrowers negotiate directly with Delegates on Maple and sign legal term sheets corresponding to loan terms. After the terms are signed, the Borrwer creates a loan request on-chain, which is then funded by the Delegate. The process of bringing the legal agreement on-chain is as simple as inputting key terms from your term sheet into the create loan form on the borrower page.

There are two key pieces of data to discuss upfront with your Delegate: the Delegate Origination Fee and the Admin Fee. Please see the Fees section for more information.

Making a Payment

Borrowers can make payments anytime throughout the lifetime of the loan indicated in the borrower dashboard. Managing payments can be done using the upcoming repayments tab in the borrower interface.

Because the accounting is handled by Maple’s smart contracts, there is no need to manually enter in the payment amount. Before making a payment, the UI will give the borrower a breakdown of the payment in terms of principle, interest and fees, with an instruction to pay the total.

Refinance Requests

Loans may be refinanced while the Loan is outstanding, provided both the Delegate and Borrower agree to the refinance terms. Normally this would occur after negotiating these terms with a Delegate and signing an amendment to the loan terms. Refinancing allows the borrower to update loan terms such as:

• Interest Rate

• Principal

• Delegate Origination and Admin Fees

The UI will ask you to acknowledge the proposed changes to the loan term before they are codified on-chain. Proposed terms are only valid for a set period of time (e.g. 24 or 48 hours). The length of this period is agreed upon by the Delegate and Borrower during the Loan creation phase.