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Stage 4: Borrower Closing
Once all the setup for the Borrower Pool is done, it's time to open the borrower pool and close the fundraise. This happens in the below steps:
  • Open the Borrower Pool: On the pre-agreed day, the Borrower pool will open for funding
  • Backer Funding: Once the Borrower pool opens, Backers will be able to fund your Borrower Pool. They do so by:
  • Signing the Agreement + Funding - Below is an image of the Agreement Signing and Funding interaction
Please note that the 'Loan Agreement' hyperlink above takes the Backer to a copy of the Loan Agreement that the Borrower provides.
  • Funding Complete: Once the pool has been fully funded, the Borrower Pool will be locked
  • Borrower Executes the Agreement: You will receive the details of the Backers who participated in your Borrower Pool. You will be responsible for appending their details to the loan agreement and executing the agreement.
  • Creating a live dataroom: You will be responsible for creating a live dataroom, and granting access to all Backers who participated in your Borrower Pool. In this dataroom you will upload:
    • The executed transaction agreements
    • Any relevant updates for the Backer community from time to time.
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