💰Borrowing

All you need to know about borrowing in Kona

Companies are usually not into Web3.0, so when developing the platform we wanted to give companies a traditional experience, just like they would find anywhere else (but better 😜). Thus we made an early decision to have the demand side of the platform go through a Web2 experience by design.

Steps to take a loan

1. Register your company by filling the form, where you will be required to provide:

   • Company information

   • Company account administrator

   • Banking details

   • Company registration documents

2. Kona will perform a KYC to verify you have the power to manage the company's receivables.

3. Once you've cleared the KYC, you'll be able to access your borrower page, where you can request to open a new facility.

4. Request a new facility by filling out the form with the facility's details, such as:

   • Loan amount

   • Date to be deployed by Kona

   • Maturity (initially we are starting with 30 days)

   • Banking details of where loaned capital is to be deposited (useful for international payments)

5. Kona will return you a Term Sheet, containing:

   • Loan cost (dollar amount and percentage over principal)

   • Collateralization ratio

   • A list of receivables and their respective percentage that will take as payment for your loan

6. After accepting the terms, the indicated receivables will be redirected to Kona, and your facility will be listed for funding.

7. If the facility is fully funded before your indicated deployment date, it becomes active and the requested amount is deposited into the indicated account.

   • If the funding is less than the requested amount, the facility is canceled and your receivables are unlocked.

Loan repayment

Loan repayment is done automatically from the receivables liquidating into Kona. If any excess capital is liquidated into Konas account, it is automatically transferred back to your registered account.