requesting-a-loan-extension.md

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Requesting a loan extension

A borrower can request a loan extension at any time during the loan or even after default. This extension will prolong the initial loan terms for a specified period.

1. Go to the "Your Borrowing" section of the dashboard
2. Pick the loan you want to extend
3. Click on "Request Loan Extension"
4. State your terms
   1. Loan extension duration
   2. Payment token: that's what you're willing to give your lender for the favor
   3. Proposal expiration
   4. Message to your lender (optional)
5. Click on "Send loan extension request"

⚠️ Your lender is free to accept or ignore the loan extension proposal. You'll be notified either way and will have the possibility to send a more enticing loan extension request.

⚠️ You can cancel a loan extension request at any time. Simply click on your active loan and on the "Cancel extension request" button.

Once you're request is accepted, you loan maturity will be automatically adjusted. Make sure to update your notifications.

A lender can also proactively send you a loan extension offer. In that case, you'll receive a notification, and the offer will be accessible from the 'Your Borrowing' tab in the dashboard as well as from the proposal page.