# Lenders

The *Lenders* are crypto/DeFi native users and institutions, who are looking for a set in stone solution allowing them to capture а part of the interest the market-neutral strategies are generating on centralized exchanges and private capital markets without the complexity of running the infrastructure to execute the trades or having access to an institutional-grade lending desk.

* **Single-borrower pool**: You decide who to lend to. No more consolidated risk among dozens of borrowers. You are lending to a single entity, executing a clear investment strategy. Not a number of lenders, most of whom you have never head of.
* **Fixed terms**: Fixed maturity that matches your investment horizon. Predictable, fixed in-kind yield locked today. Fixed collateral - both in terms of type and coverage levels. 
* **Risk management**: Full transparency. Independent credit ratings. Permissionless collateral custody and transfer. 
* **Yield on every asset**: Stables and blue chips are widely available. On top of them, LombardFi improve markets’ capital efficiency by making mid-, smallcap or obscured assets productive again.

**How does it work?**

<figure><img src="/files/rHmFPseVceISYz4pNe94" alt=""><figcaption></figcaption></figure>

The key parameters of each loan requested are defined in the so-called “[Term Sheet](/protocol-design/term-sheet.md)” that is presented to the Lenders once the pool is created and the bonding period begins.


---

# 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.lombard.fi/protocol-design/lenders.md?ask=<question>
```

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.