Beverly Finance offers USD loans collateralized by your crypto assets. What does that mean? We give you USD and you give us Bitcoin (BTC), Ether (ETH), or Litecoin (LTC) as security for repayment. It’s really that simple. Clients can apply for loan in less than 2 minutes and be funded in USD directly into their bank accounts or wallets in as few 90 minutes to 3 days. Cool, right?

Why take out a cryptocurrency backed loan?

Many crypto owners have a long-term investment strategy and prefer to hold onto their crypto assets. However, there are situations where they require USD liquidity. Instead of selling their crypto, they can use it as collateral for a cryptocurrency backed loan. This allows them to maintain ownership of their funds while accessing the USD necessary for their projects.

What can you use your crypto loan for?

Beverly clients use their crypto loans for various purposes, including:

• Buying a home – traditional lenders may not accept crypto as payment
• Diversifying investments – reducing portfolio risk through diversification
• Paying off travel expenses – using crypto to fund vacations
• Paying off high-cost debt – refinancing credit card or student loan debt
• Funding a business – accessing credit for your business using crypto as collateral

Applying for a Beverly Loan

To apply for a loan, visit our website and submit your request to a Loan Manager. Provide the loan amount, type of crypto you want to stake, and necessary KYC/AML information for identity verification. Additional details required include your address, business plan, loan duration, and full receiving bank details. Beverly Finance does not perform hard credit checks, so your credit score won't be affected. Our team will review your application and respond within one business day. If submitted during business hours, you can expect a decision within 2 hours. Once approved, you'll receive a loan offer with detailed calculations.

Reviewing Your Loan Offer

When reviewing your loan offer, pay attention to the interest rate, which depends on the loan amount and location. The offer will also include a processing fee (averaging around 1-2%) based on your requested loan amount, credit history, and location. Additionally, you'll see the total price over the course of a year. The collateral required will vary based on the Loan To Value (LTV) ratio. A lower LTV requires more cryptocurrency as collateral, while a higher LTV requires less. Beverly offers LTVs up to 5% for loans above $10,000,000 and as low as 10% for loans below $5,000,000.

Accepting Your Beverly Loan

Once you've reviewed the loan terms and conditions, you can accept the offer and send your collateral to Beverly's custodian, Accrue Custody. They are a licensed custodian with legal liability and insurance requirements to safeguard deposits. New clients will receive a welcome packet with information on managing their loan and what to do in the event of a margin call.

Rates and Repayment

Loans have different rates, and you are only required to pay interest over the loan term. You can repay the loan in full at any time without prepayment penalties. If you decide to pay off the loan early, you won't be charged interest for the remaining loan period.

Contact Us

If you have any questions about Beverly or how our loans work, please feel free to contact us.