Once a loan has been issued, its amount cannot be increased. Each loan at Ledn is created as an independent agreement with its own collateral, maturity date, and terms.
If you wish to access additional liquidity, you would need to apply for a new loan for the extra amount you’d like to borrow.
Can I have more than one loan at the same time?
Yes. You can have multiple active loans with Ledn. Each loan will be treated separately, with its own collateral balance and loan agreement.
What if I want to use my existing collateral for a new loan?
If your current loan(s) qualify for collateral redemption, you may be able to redeem a portion of your existing collateral and use it to collateralize a new loan.
To redeem collateral for a new loan, the following conditions must be met:
The loan has been active for more than 60 days.
Your current LTV is below 30%.
You have not redeemed collateral in the last 60 days.
You have at least $100 USD worth of redeemable collateral available (maximum: $100,000 USD every 60 days).
If your loan does not meet the requirements, you can always transfer new collateral for a new loan.