# How to borrow?

### Collateral

To be able to get a U2U loan, you need to have collateral. In the GroFi Dex Loans system, to be able to borrow you need stNFT (Staking NFT) as collateral.

What is stNFT? stNFT is a derivative product after you stake your U2U in GroFi Dex, you will receive a stNFT that proves your staking in the system. With this NFT, you can mortgage it in GroFi Dex Loans to receive U2U, which can serve your other needs.

### How to mortgage?

**1- Choose collateralized NFTs**

First, the system displays a list of all GroFi Dex stNFTs you own corresponding to the staking packages you have participated in.

<div align="left"><figure><img src="/files/v8272VvoXW5LESZfI5wq" alt=""><figcaption></figcaption></figure></div>

Information for each NFT will include the following information:

* Value of NFT: **Staked Amount**
* Maximum you can borrow from collateral: **LTV - loan to value**
* Information about loan interest rates: **Annual Interest Rate**

**2 - Choose loan period**&#x20;

You can choose the most suitable loan period for your loan from the list of periods provided by the system. (**Interest Period** field in the picture above)

**3- Enter the borrow amount**

In field **Borrow Amount,** please enter the amount you want to borrow. Make sure that amount is less than the maximum value you can borrow.

**4- Calculation and estimation system**

Based on the amount of U2U you want to borrow and the loan period, the system will estimate the interest cost and total you have to pay after borrowing to receive the pledged NFT back.

Information will be displayed at:

* **Total Interest**: The amount of interest you pay on the loan, measured in U2U
* **Repayment Amount:** Includes loan value and interest payment, measured in U2U

**5- Submit request**

Click the **Borrow Now** button to make your loan, remember to confirm the transaction on your wallet to complete the transaction.


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