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BrotherlyLend, you can use your 1 BTC or some portion of them to take out a loan. You can use
this loan to fulfill your business or personal needs. When you return the borrowed amount, you
get access to your Bitcoins again. In short, you met your immediate needs without spending
your highly valuable and investable currency.
The best part of BrotherlyLend, as the name suggests, is that it makes loans affordable for you
by removing fluctuating and exorbitant interest rates. BrotherlyLend charges only a small fee
based on the amount you borrow.
Here are the credit flow possibilities for a borrower who benefits from the BroCoins. (More detailed decription is present in our white paper, please review our white paper) The system lends the required money to the borrower based on the agreement
? The borrower pays back the loan before the agreed date
? The borrower makes at least some part of the payment before the agreed date
? An extra deposit from the borrower triggers loan extension
As per the agreement, the security has to go back to the borrower as soon as he/she
repays the loaned amount. There are two possibilities in this scenario.
? The borrower repays the loan early
? The borrower repays the loan on the agreed date
If the borrower makes an early payment, the following two possibilities arise.
? The borrower makes early repayment in the full amount of the loan
? The borrower repays early but only a partial of the loan amount
A repayment as per the agreement triggers a complete disbursement of the security
back to the borrower’s account. However, if the borrower cannot return the loan
amount within the agreed-upon timeframe, the security transfers to the platform where
a part of it is used for compensating for the damages of the breaking of the contract.
Any amount that remains after the compensation goes back to the borrower.
BrotherlyCoin's team members.