Borrowing on the Loan Marketplace means lending your cosmetics to the system as security in exchange for gems from another player. You choose the amount, the interest rate and how long you need. Until the loan is repaid, the cosmetics are locked and cannot be sold, gifted, listed or used as collateral elsewhere.
Read The Loan Marketplace first for how the whole system works and Loan Risks and Defaults for what you can lose.
Create a proposal#
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Open Marketplace > Loans > Create Proposal. The Use as collateral link on the page of a cosmetic you own (Browsing the Marketplace) also opens this form.
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Optionally click a Quick templates button (Small, Medium or Large) to fill amount, interest and duration with the preset values shown on each button.
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Under Select Collateral click the cosmetics to lock up, from 1 to 10. They are held until the loan is repaid.
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Under Loan Terms fill in:
Field Rule Loan Amount (Gems) Whole gems, 100 to 10,000,000. A 1% server fee is deducted from what you receive Interest Rate (%) 1 to 100. This is the interest you pay if you take the full term. Higher rates attract lenders faster Loan Duration (days) 1 to 30. You must repay before this ends Description (Optional) A note for lenders; up to 200 characters are kept -
Check the helpers: the Suggested rate chip proposes a rate from your collateral's value, the duration and your credit score and can be applied with one click, and the fundability indicator rates your request Likely to fund, Could fund, improve terms or Unlikely to fund. The Loan Summary shows Request, Server Fee, You Receive, Loan Duration, Interest Rate, Collateral Items and Max Repayment.
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Read the warning: your cosmetics are held until the loan is repaid, and if you fail to repay by the due date they transfer to the lender.
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Click Create Proposal (it stays greyed out until every field is valid). The site says "Loan proposal created successfully!" and takes you to My Proposals.
Your cosmetics leave your collection the moment the proposal is created; placed furniture is taken down from where it stands. The proposal stays open for 1 day and is announced to players online in game chat and in the community Discord.
What you can and cannot do#
The form checks the amount, rate and duration as you type and shows the allowed range under any field that is out of it, such as "Minimum loan amount is ..." or "Duration must be between 1 and 30 days"; Create Proposal stays greyed out until every field is valid and at least one cosmetic is selected. After you submit, these messages can appear:
| Message | Meaning |
|---|---|
| You don't own one or more of the selected cosmetics. | A cosmetic left your collection. |
| One or more cosmetics are already used as collateral in another loan. | It is already locked in another proposal or loan. |
| You've reached the maximum number of active proposals. | You already have 5 open proposals. |
| You've reached the maximum number of active loans. | You already owe 5 active loans. |
My Proposals#
Loans > My Proposals shows your credit score and your requests in three groups: Pending Proposals, Accepted Proposals and History.
| Status | Meaning | What you can do |
|---|---|---|
| PENDING | Open for 1 day, waiting for a lender | Cancel to withdraw it and get your cosmetics back (there is no confirmation step) |
| ACCEPTED | A lender funded it; it is now a loan | Manage it in My Loans |
| CANCELLED | You cancelled it | Republish to create a new proposal with the same terms |
| EXPIRED | Nobody funded it within 1 day; cosmetics returned | Republish |
Republish opens the create form with the earlier amount, rate, duration, description and collateral filled in (items you no longer own are dropped, with a notice). Cancelling shows "Proposal cancelled"; "This proposal can no longer be cancelled." appears if a lender funded it first or it already expired.
Your credit score is shown at the top as Your Credit Score with your repaid and defaulted counts; its tooltip calls you a Low risk (80% or more), Medium risk (50% to 79%) or High risk (below 50%) borrower. Without a finished loan it reads "No Credit History". Lenders see your score, so repaying on time makes later proposals easier to fund.
When a lender funds it#
You receive the loan amount minus the 1% server fee in your gem balance straight away (rounded up fee, so 10 gems on a 1,000 gem loan). The due date is the duration after the funding time, and the proposal moves to ACCEPTED. Check My Loans to see the due date.
My Loans and repaying#
Loans > My Loans ("View and manage loans where you are the borrower.") lists Active Loans and Loan History. An active loan card shows the amount you received, the lender, the interest rate, the number of collateral items, the time remaining ("2d 4h 10m") and to repay, the amount that would settle the loan right now.
- Click Repay Now on an active loan.
- In Repay Loan read Principal (the full loan amount, not what you received), Interest (with the share of the term used, such as "50% of term"; the 10% minimum still applies when the share shown is lower) and Total to pay.
- Click Repay <total>. Your gems are taken, the lender is paid in full and the site says "Loan repaid successfully! Your collateral has been returned." Your cosmetics return to your collection immediately.
Interest is the loan amount times the interest rate times the larger of the share of the term used and 10%, rounded up (The Loan Marketplace has a worked table). Repaying sooner is cheaper, down to the 10% minimum.
| Status | Meaning |
|---|---|
| ACTIVE | Running, with a countdown |
| OVERDUE | Past the due date and not yet settled: pay now |
| REPAID | Paid in full; shows what you paid |
| DEFAULTED | Not repaid; the collateral went to the lender |
| Message | Meaning |
|---|---|
| You don't have enough funds to repay this loan. | Top up gems first (The Website Store). |
| This loan is no longer active. | It was already settled. |
The due date#
There is no grace period. After the due date the system checks every minute: if you have enough gems it repays the loan for you and returns your cosmetics; if you do not, the loan defaults and the lender receives the cosmetics. The amount is worked out at the moment the loan is settled, so keep a few gems more than Max Repayment in your balance as the due date approaches.
Tips#
- Pick collateral worth more than the loan so lenders see little risk and fund faster.
- Compare the Max Repayment with what you plan to earn; the 1% fee and the minimum interest make very short, tiny loans expensive.
- Repay early to cut the interest, but remember the 10% minimum always applies.
See also#
- Lending Gems for the lender's side.
- Loan Risks and Defaults for risks.
- Your Collection, Loadouts and Wishlist for the cosmetics you can lock up.