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.