# How does it work? 1. **Proposal Submission**\ Asset Originators submit loan proposals, including terms (loan amount, tenure, interest rate, repayment structure) along with credit data and details of real-world assets to be used as collateral. 2. **Credit Assessment**\ Underwriters review the credit data, assess default risk, and publish credit reports with recommendations, including approval status and suggested interest rates. 3. **Asset Tokenization**\ Upon approval, Asset Originators tokenize the underlying assets using Qiro’s tokenization platform. 4. **Pool Creation**\ The Asset Originator is onboarded, a lending pool is created with a defined tranche structure and interest terms, and the pool is launched for capital formation. 5. **Capital Formation**\ Investors contribute capital during the formation period. The pool proceeds only if the target capital requirement is met. 6. **Capital Disbursement**\ Once the pool target is fulfilled, Asset Originators can withdraw the funds for use as per the loan agreement. 7. **Repayments**\ Asset Originators repay principal and interest as per the agreed repayment schedule. 8. **Investor Redemption**\ Investors redeem their investments based on available pool liquidity or at pool maturity. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.qiro.fi/products/qiro-marketplace/term-loans/how-does-it-work.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.