Micro loans

Mesi offers a simple loan program to help creators get money for their projects.

How to Apply

• Creators need to fill out a loan application form.

• Each month, Mesi sets a budget that the platform can spend on the loans.

• The amount creators can borrow depends on their account tier.
• Applications are reviewed in the order they are submitted. If the budget runs out before your application is reviewed, it will be rejected. The process operates on a first-come, first-served basis.

• To apply, creators must offer collateral in $MESI tokens, worth at least three times (300%) the loan amount.

Application review process

• Creators choose how much they want to borrow and how long they need to pay it back (between 2 and 12 months). Longer payback times mean higher interest rates.

• Offering more collateral than required can increase the chances of approval.

What Mesi Looks At

Mesi checks these things when reviewing applications:

• How trustworthy the creator is.

• How active their gallery is on Mesi?

• Their past earnings.

• Their plan is to pay back the loan.

• How much collateral they are offering?

• Why they need the loan and how they plan to use it.

What Could Happen

• Rejection

• Conditional Approval: The loan application is pre-approved, but the creator must increase the collateral to the amount specified by Mesi, or shorten the payback period. Otherwise, the application is rejected.

• Approval: The loan application is accepted as is.

Paying Back the Loan

Creators can pay back the loan manually using a repayment tool on the platform, or they can allocate a portion of their profits and rewards for automatic loan repayment in their profile settings.

What Happens if You Don’t Pay

If the loan isn’t paid back on time, Mesi can liquidate the provided collateral fully or partially. This can also happen if:

• The collateral value drops below 200% of the loan amount.

• The creator loses the account tier that has been needed for the loan.

• The creator breaks rules, like:

• Uploading copyrighted content without permission.

  • Not using the platform for a long time.

  • Getting their account suspended.

Mesi has full discretion in deciding the portion of collateral required to be liquidated and the process of liquidation in cases where rules are broken.