UK based business account holders are now able to take out an asset-backed loan of GBP or USDT from within their CoinCorner account using the bitcoin holdings in their account as collateral. More information on the fees and limits associated with taking out a Bitcoin Backed Loan on your account can be found below:
|
Minimum loan amount |
Maximum loan amount |
Interest rate |
Origination fee |
|
GBP |
£25,000 |
£50,000 |
8.5% |
2% |
USDT |
100 USDT |
100,000 USDT |
100-1,000 USDT - 8.18% 1,000-100,000 - 8.5% |
100-1,000 USDT - 0.5% 1,000-100,000 USDT - 2% |
You can borrow up to 50% LTV (loan-to-value) and the maximum term length for the repayment of your loan is 12 months. Following the first repayment date the borrower may make full or partial repayments at any time. You can take out a maximum of 5 loans on your account, up to a total maximum loan value of 1,000,000 GBP or 1,000,000 USDT.
GBP loans are NOT available for sole traders, and any GBP loans that are taken out must be used for business reasons only.
You can find a guide on how to take out a Bitcoin Backed Loan here.
Have any questions? Get in touch!