Offering a loan extension

A default is not the end of the story. As a lender, you can either claim the collateral, or offer a loan extension to your debtor, on your own terms.

1. Go to the "Your Lending" section of the dashboard

2. Find the defaulted loan

3. Click on "Offer Loan Extension"

4. State your terms

   1. Loan extension duration

   2. Payment token: that's the cost of the service for your debtor

   3. Proposal expiration

   4. Message to your borrower (optional)

5. Click on "Send loan extension request"

⚠️ Your debtor is free to accept or refuse the loan extension proposal.

⚠️ You can cancel a loan extension request at any time. Simply click on your active loan and on the "Cancel extension request" button.

Your debtor can also send you a loan extension request. It will appear in your notifications, in the "Your Lending" of your dashboard, and directly in the proposal page. Once received, you'll have the option to accept, counter or ignore.