> For the complete documentation index, see [llms.txt](https://docs.techdollar.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.techdollar.com/borrower-mechanics.md).

# Borrower Mechanics

Every Techdollar loan moves through the same six stages, from application to funding. The process is built to be fast and confidential: company-level pre-approval drives speed, the borrower's employer is never contacted, and pre-cleared frontier companies carry standing terms that shorten time to a decision.

{% stepper %}
{% step %}

## Borrower applies on the platform

Self-serve, fifteen-minute application. KYC is initiated at this step. Document gathering is self-served and completed in minutes, and the in-platform calculator returns an accurate estimate of the expected offer before manual review begins.
{% endstep %}

{% step %}

## Underwriting on the admin panel

Company-level pre-approval drives speed. Pre-cleared frontier companies have standing terms, so underwriting of an individual position against an already-cleared name resolves quickly. Ownership and the enforceability of the share charge are verified by RSM prior to issuance.
{% endstep %}

{% step %}

## Approve, deny, or request additional

A credit decision is returned. LTV is calibrated to OTC pricing, IPO timeline visibility, and institutional backing, and typically lands between 20% and 60%.
{% endstep %}

{% step %}

## Sign legal docs

The off-chain loan agreement is executed, for either the Card or the Vault product, and the collateral pledge is signed. The shares remain in the borrower's name; Techdollar holds a protected security interest.
{% endstep %}

{% step %}

## Loan principal is issued

Principal flows from the facility to the borrower. Techdollar matches these counterparties.
{% endstep %}

{% step %}

## Repayment

The borrower services and repays the loan over its term. Repayment is accepted directly or via fiat on-ramp.
{% endstep %}
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