BORROWING

 

EQI’s lending products intend to act as a bridge between two historically divided systems: digital assets and the world of traditional financial infrastructure. EQI will develop a robust and innovative  P2P platform that enables our clients to borrow or lend against their physical  and digital assets.

 

 

Opening Account

• Client completes a bank account and loan application with EQI and completes our KYC and AML/CDD
• The client uses their various cryptocurrency wallets to send collateral to EQI’s address
• Payment is made in fiat to the client’s fiat bank account with EQI

Servicing

• Monthly interest-only payments
• If the collateral drops by 20%, EQI will request more collateral or a principal payment
• If the collateral drops by 40%, EQI has the right to repossess the collateral and sell it to recover principal and any outstanding interest. EQI also has the right to withdraw fiat from the borrower’s account. A global first for all P2P platforms and unique protection for lenders

Service Fees

EQI will charge servicing fees for its P2P loans. This includes collecting and processing principal and interest payments from borrowers, distributing these payments net of fees to investors and maintaining investor accounts. Ideally, both investors and borrowers will hold fiat bank accounts with EQI, making the process completely seamless.
EQI uses its low operating costs to pass savings on to clients. There are no hidden fees or charges:
• Interest rates are typically 12.5% – 15.0% APR
• Terms are 3 – 24 months with options to renew
• Loan to value ratio is a minimum of 60%
• Interest payable monthly
• Principal sum due in full at the maturity of the loan

Closing

• Final payment will include principal repayment
• EQI will return the client’s collateral to an address of their choosing
• Depending on the collateral value, the client can renew their loan and defer principal repayment

Institutional Lenders and traditional financial institutions will only work with regulated, secure and licensed banks. EQI specifically addresses these needs and provides institutions with the security they require when dealing with new technology and asset classes.

EQI provides institutional lenders with a means to loan fiat currencies to holders of cryptocurrency and digital assets without having to change their business licenses, models or cost structures. While barriers to adoption have historically prevented institutional lenders from entering the P2P lending market, the interest and demand for access to these services has risen dramatically. EQI meets this growing demand by providing the solidity of a licensed offshore bank – with its inbuilt protection, processes and compliance – along with the security and technology necessary to lend against blockchain assets.

Features

✓ No membership fees
✓ No prepayment penalties
✓ No origination fees
✓ No closing costs

Benefits for EQI Token Holders

  • Only EQI Token Holders are eligible to borrow or lend
  • EQI Tokens can be used to settle platform fees and for buying/selling loans