# Open a loan

## Video Tutorial

{% embed url="<https://www.youtube.com/watch?index=2&list=PLzkcHm87m_ZFj0WdX40Cw5IcpOH7HJKCy&v=egCRu8HwaNU>" %}

## Step by Step Guide Guide

1. Go to **sendit.fun** and connect your Solana-compatible wallet.
2. Choose the token you want to borrow against and click ***Take Loan***.

<figure><img src="/files/BckxWcxWpj3F8V3k5WUT" alt=""><figcaption></figcaption></figure>

> We recommend using **Verified Markets** for most users.

3. In the **Take Loan → Deposit Collateral** tab, enter the amount of tokens to use as collateral. The interface will show:
   1. **New Borrowing Power**: Maximum SOL you can borrow with your collateral.
   2. **Position Size Limit**: Market-specific cap for individual users.
   3. **Available Liquidity**: How much SOL is left in the pool to borrow.

<figure><img src="/files/C5AJdci3Pl8hsf4zXdHG" alt="" width="313"><figcaption></figcaption></figure>

4. Switch to the **Borrow SOL** tab and enter the amount you want to borrow. The panel shows updated risk metrics:
   1. **Old Liquidation Price**: Before adding new debt (0 for fresh loans).
   2. **New Liquidation Price**: Updated liquidation price after borrowing.
   3. **Loan-to-Value (LTV)**: Borrowed SOL vs. collateral value. The lower the LTV, the safer the loan.

<p align="center"><img src="/files/WWrx6pAhHM67P3zLmZiz" alt=""></p>

5. Click **Borrow** to initiate the loan. Your borrowed SOL appears instantly, and the loan details are visible either in the a) underlying **Market Detail Page** or the b) **Portfolio** page.
   1. **Market Detail Page**

<figure><img src="/files/feN0f1M9Kx1BU0PIYzF7" alt="" width="563"><figcaption></figcaption></figure>

&#x20;      b. **Portfolio**

<figure><img src="/files/9HywTIgmqfGuRZ5uUKUE" alt=""><figcaption></figcaption></figure>

***

### Important Information

* **Collateral Management**: You can add or withdraw collateral at any time. Adding lowers risk; withdrawing raises it.
* **Repaying Debt**: Repay partially or fully to reduce open debt and free collateral.
* **Borrowing More**: Taking additional loans increases leverage and risk.
* **Liquidation Risk**: If your LTV becomes too high, your collateral may be liquidated.


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