Maple Finance Tightens Lending Standards, Requires Borrowers to Sign Legal Agreement to Submit Financial Audits, Monthly Reports, and More

According to Bloomberg, institutional lending agreement Maple Finance has tightened lending standards. Its chief executive, Sid Powell, said borrowers will now have to sign a legal agreement that includes provisions to submit independently audited financial accounts each year and must file monthly reports outlining their finances. status, including balance sheet information. Additionally, borrowers will also need to sign up for credit risk data platform Credora, which provides lenders with real-time information to help them assess the level of risk a borrower has accumulated across different cryptocurrency exchanges. the