What are the types of loans that I can take out?
Currently Arch offers two types of loans: 1. Interest-Only and 2. Interest + Principal (Amortizing Loan). Both loans have monthly payments. To learn more on each structure, please see the “What is an Interest-Only Loan” and “What is an Interest + Principal (Amortizing) Loan” questions.
What is an Interest-Only Loan?
An Interest-Only Loan is one in which the monthly payment solely consists of only the interest amount of the loan. The principal of the loan is repaid in full at the end of the loan.
What is an Interest + Principal (Amortizing) Loan?
An Interest + Principal (Amortizing) loan is one in which the monthly payment is used to not only pay the interest but also pay a portion of the principal balance.
What are the interest rates on the loans?
Currently, APRs (Annual Percentage Rates) range between 8%-15% based on the specific collateral.
Are there any origination fees or other fees?
There are no origination fees. The only fee that may be applicable is a liquidation Fee, which only occurs in the event that your collateral has to be liquidated. See more about liquidation in “What is a liquidation event?”
What are the eligible collateral?
a. Cryptocurrencies - AAVE, APE, AVAX, BUSD, BTC, BCH, BNB, LINK, DAI, MANA, ETH, FTM, LTC, MKR, MATIC, QNT, SOL, USDT, SAND, TUSD, UNI, WBTC
b. NFTs - CryptoPunks, BoredApes, Mutant Apes, CloneX, MoonBirds, Doodles, BoredApe Kennel Club
c. Other assets and asset classes are continuously being added
Which currency is my loan denominated in?
Currently, you can take out a loan in either USD (fiat) or USDC (stablecoin). We instantly send the USD to your bank account and the USDC to your crypto wallet address.
How quickly do I get my loan?
Loans are approved instantly and funded right away. If you choose a loan in stablecoin (USDC), the money should appear in your account within minutes. If you choose a loan in fiat (USD), the money should appear in your bank account within minutes if approved before 5 pm EST, or at the beginning of the next US business day if approved after 5 pm EST.
What currency do I need to make the loan repayments in?
You can make the loan repayments in either USD (fiat) or USDC (stablecoin).
What if I have cryptocurrencies & digital assets that aren’t supported for collateral?
You can request that the specific collateral be supported by reaching out to us at email@example.com.
Can I pay off the loan early?
Yes, you can pay off the loan early without any penalties or fees.
What is the supported length for loans?
Currently the maximum loan duration is 1 year. We are working to increase this.
Can I withdraw some or all of my collateral if the underlying value goes up a lot?
Depending on the amount the collateral has increased, you may be able to withdraw some of the collateral or take out another loan. In order to request a withdrawal of excess collateral, please send an email to firstname.lastname@example.org.
If I have an interest only loan, can I roll-over the loan once the term ends?
For inquiries related to this, please email email@example.com. We are happy to work with each borrower on their specific needs.