How to apply for a loan?
On the main page of the MyConstant website, choose the borrowing option. Enter how much you want to borrow, what will be your collateral currency, then choose the loan term. You will need to log into your account after that.
The company will require you to pay a matching fee upfront. This is a fee for the company to attract investors to your borrow order.
You then need to send your collateral to the escrow account. The escrow address will be provided to you with a QR code. Scan it and send collateral within 60 minutes. After that, the company will start to search for investors.
Once you are matched, you can withdraw funds via ACH or Wire.
Requirements
To apply for a loan with MyConstant, you need to have at least 150% of the loan amount in collateral. The service is available to anyone having a bank account.
The company requires you to provide proof of your identity, proof of address, and your picture. The proof of identity can include a driving license, passport, or ID card. You can provide a bank or credit card statement, bills, insurance letter, or financial statements as proof of your address. Attach the picture of yourself holding the ID.
Once you are done, your account will be verified.
