Once your Bitcoin (BTC) collateral has been sent to your Ledn loan wallet address and verified on the blockchain, your loan disbursement process begins.
Typically, loan funds are disbursed within approximately 12 business hours after your collateral has been received and verified. Please note that your receiving bank’s processing times may affect when the funds appear in your account. Additionally, weekend or holiday processing may result in longer timelines for funds to reflect in your bank account.
What happens after I send my collateral?
Collateral verification
Once your BTC transaction receives the required confirmations, our system automatically verifies the collateral amount and links it to your loan.
Your loan status will change from “Pending” to “Active” in your Loan dashboard once your loan has been disbursed.
Loan disbursement
USDC loans: Once verified, funds are typically disbursed within minutes. If you plan to withdraw the USDC off of Ledn’s platform, we recommend selecting an “External ERC-20 USDC address” during the loan application process to ensure your withdrawal is processed faster.
Fiat loans: For loans funded via bank wire, Ledn processes the disbursement within the next 12 business hours after collateral verification.
Confirmation
Once your loan has been successfully disbursed, you’ll receive a confirmation email and see your active loan details reflected in your Loans tab.
In some cases, we may reach out before disbursement to confirm your banking details and ensure everything is correct.
For more information you can reach out to our Client Success Team.