SALT - Blockchain-Backed Loans
SALT lets you leverage your blockchain assets to secure cash loans. We make it easy to get money without having to sell your favorite investment.
STO/ICO Status
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Basics
| Platform | N/A |
|---|---|
| Type | N/A |
| Accepting | Others |
| Circulating Supply | N/A |
| KYC | N/A |
| Restricted Areas | N/A |
| Homepage | Website URL |
| White Paper | View/Download |
About
The SALT Lending Platform is designed to enable its Members to leverage their blockchain assets to secure cash loans, making it easy to get money to spend without having to sell their blockchain assets.
A Blockchain-Backed Loan™is money borrowed for any kind of personal or business use, such as making a big purchase, paying off credit card debt, investing in home improvements, taking a vacation, or paying for business expenses. The loan is collateralized by a blockchain asset, such asBitcoin. SALT wants to make things simple for itsMembers. There are no origination fees, closing costs, or prepayment penalties on the fixed rate term loans arranged through the SALT platform. Members may elect at any time to pay off their loans early at no additional cost to them.This is in strong contrast to terms often offered by conventional lenders. Typically, conventional loans are accompanied by a myriad of itemized fees such as upfront origination fees, which can exceed 5% of the loan balance, and monthly servicing fees that are paid by the borrower on top of the monthly payments to the lender. SALT has opted for a simple model where fees charged to borrowers are rolled into an annual Membership to promote transparency and fairness.