[Proposal] TrueFi to Offer Private Borrowing

Original Author: Roshan Dharia Forum Post: https://forum.truefi.io/t/proposal-truefi-to-offer-private-borrowing/637

Summary: Allow borrowers to borrow from TrueFi without revealing their firm's name/identity to the broader community.

-All new borrowers will continue to publish a post in our forum seeking approval to borrow, however may do so with company name redacted. The posts will require a description of the borrower, explanation of credit support and use of funds.

-TrustToken will continue to perform the exact same compliance and underwriting process for public and private borrowers, i.e. no change in risk analysis and borrower whitelisting.

-All borrowers will receive a credit score which will be made public and will be used to determine loan parameters including loan amount and interest rate.

-Borrowers who elect private borrowing must be considered high credit quality and achieve a minimum threshold credit score.

-Borrower will be unmasked and made public in the event of default thus reputation continues to remain a critical underwriting parameter.

-Borrowers who elect to borrow privately will be subject to a [~50]bps risk premium in interest rate to account for the additional credit risk

-TrustToken will in the near future attempt to retain an independent third party (i.e. accounting firm) to validate via attestation the borrower’s identity, receipt of required diligence materials and completion of all compliance and underwriting requirements.