# Making Loans

## Making a Loan

{% hint style="info" %}
For a demo and user guide for making loans via the platform, see [here](/stablecoin-yield/product-overview/investment-process.md).
{% endhint %}

Making a loan into the High Yield Corporate Bond Vault is a simple process. After you've been onboarded, the steps are as follows:

1. Select the blockchain network you want to access the vault on
2. Connect your whitelisted wallet
3. Select the High Yield Corporate Bond Vault
4. Click "Invest"
5. Input an amount you'd like to lend and click "Approve Spending Cap"
6. Approve the spending cap in your wallet
7. Confirm the amount and click "Invest"
8. USDC will be transferred from your wallet & you will receive vault tokens at the current exchange rate. 
9. The transfer will show as "Pending Advance" until the Advance Processing Time lapses, after which time it will begin accruing interest. 

## Exchange Rate Calculations - Making a Loan

When stablecoins are lent into the vault, XHYC will be issued to the Lender at the most recent exchange rate based on the following calculation:

```javascript
Loan Amount / Exchange Rate
```


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