> For the complete documentation index, see [llms.txt](https://docs.ibis.app/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.ibis.app/getting-started/onboarding-1.md).

# Borrowing

Borrowers complete identity and business review, agree on facility terms and wallets, and execute the applicable agreements before the facility is prepared for lender participation. Every listed facility has an agreement.

The figures shown in the apps and described here are informational. The Master Lending Agreement governs amounts, dates, defaults and remedies.

## Agreements

Contact Ibis to begin onboarding. The borrower's own agreement with Ibis is executed outside the apps, and each lender signs the facility's Master Lending Agreement before participating. Signed agreements and the facility's onchain state govern the borrower's obligation; [Eligibility, compliance and agreements](/getting-started/compliance-perimeter.md) explains their relationship to this documentation.

## KYC and KYB

Offchain identity and business verification requires supporting documentation. KYC (know your customer) covers a person; KYB (know your business) covers a business. The information required depends on the borrower and the applicable review. Questions about review or onboarding go to [Support and integration](/reference/integrating-with-ibis.md).

Borrower wallets are screened separately onchain. Completing verification alone does not approve a wallet.

## Facility terms

Onboarding establishes the admitted asset, rate mode and structure, rate or yield terms, deposit cap and minimum deposit. Epochs facilities also have an epoch length and settlement window; Continuous facilities have a compounding period. The rate mode, structure and participation setting are fixed at creation. [Facility terms, limits and fees](/platform/facility-terms.md) lists who sets each term, its limits and when changes apply.

## Borrower wallets

| Wallet                                     | Responsibility                                                                 |
| ------------------------------------------ | ------------------------------------------------------------------------------ |
| Borrower receiving wallet (Borrower funds) | Receives delivered principal, released withheld principal and returned surplus |
| Borrower repayment wallet (Borrower ops)   | The published wallet for repayments                                            |

The wallets may be the same. Any other wallet that passes facility screening can also repay. Both borrower wallets are screened at appointment. If the receiving wallet becomes restricted, principal stays in the facility. [Roles and responsibilities](/platform/roles-and-permissions.md) describes these wallets.

## Facility preparation

The facility is created with the agreed terms and wallets. Until activation, a registered facility accepts no deposits. [Lending](/getting-started/onboarding.md) lists the prerequisites lenders meet before participating.