> For the complete documentation index, see [llms.txt](https://qiro.gitbook.io/qiro-vaults/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://qiro.gitbook.io/qiro-vaults/stakeholders/borrowers.md).

# Borrowers

Who Qiro lends to, the gates every borrower clears, and what they get.

Borrowers are the capital recipients, the companies whose credit activity generates the yield investors earn.

Qiro targets three borrower archetypes across its vaults:

**Payment processors / PayFi companies:** Cross-border payment processors and remittance platforms that need short-term working capital to bridge settlement timing gaps. Drawdowns are small (days), repayments are predictable, and receivables are specific and traceable. These are the highest-frequency, shortest-duration facilities in the suite.

**Private credit funds:** Established private credit, venture debt, and specialty finance funds that extend loans to fintech, payment, and lending platforms globally. The vault invests at the fund level, gaining diversified exposure to each fund's underlying portfolio.

**Fintech lenders / NBFIs:** Non-bank financial institutions with seasoned loan books across supply chain finance, invoice discounting, inventory financing, and SME lending. Each facility is backed by a diversified pool of the borrower's own receivables.

**Hard gates applied to all borrowers:**

* Minimum 12+ months of performance data required before underwriting begins
* Full KYB completed
* Licensed or partner-licensed preferred
* Developed markets only (USA, Singapore, UK/Europe), no emerging market exposure
* No unsecured consumer credit as a primary focus

**What borrowers get from Qiro:**

* Access to global stablecoin capital
* Non-dilutive debt financing
* A single counterparty for the full debt stack

***

If your business fits the profile above:

* [The Borrowing Process](/qiro-vaults/stakeholders/borrowers/borrowing-process.md): how a facility goes from first conversation to funded and repaid
* [What to Prepare](/qiro-vaults/stakeholders/borrowers/what-to-prepare.md): the diligence materials Qiro will ask for

Then [Get in Touch](/qiro-vaults/about-us/get-in-touch.md) to start a conversation.