> For the complete documentation index, see [llms.txt](https://docs.arenas.fi/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.arenas.fi/build-with-arenas/embed.md).

# Embed Credit (Borrowers & Builders)

Embed approval-gated credit directly in your product — let your users request financing, draw it down, and repay, without them ever touching a contract UI. This is the **borrower side** of a market, driven by the [API](/build-with-arenas/api-reference.md) for reads and wallet transactions for writes.

***

### The borrower flow

```mermaid
flowchart LR
    R[requestFinancing] --> A[approveRequest]
    A --> D[receiveFinancing]
    D --> P[repay]
```

| Step         | Who      | Contract call                                | Notes                                                          |
| ------------ | -------- | -------------------------------------------- | -------------------------------------------------------------- |
| 1. Request   | Borrower | `requestFinancing` / `requestFixedFinancing` | Needs the market’s **access token (NFT)** — no ERC-20 approve. |
| 2. Approve   | Approver | `approveRequest` / `declineRequest`          | Opens a timed receive window; **moves no funds**.              |
| 3. Draw down | Borrower | `receiveFinancing`                           | Fills from intents, cheapest first (auto-selected).            |
| 4. Repay     | Anyone   | `repay` / `payInterest` / `repayPrincipal`   | Requires ERC-20 `approve` to the market.                       |

See the [Financing Request Lifecycle](/atomica/financing-request-lifecycle.md) for the full state machine.

***

### 1. Discover markets and eligibility

```bash
# markets your arena exposes
curl -H "X-Arena-Key: $ARENA_KEY" "$ARENAS_API/lending/markets"
# access-token (NFT) contracts that gate borrowing, per chain
curl -H "X-Arena-Key: $ARENA_KEY" "$ARENAS_API/arena/access-tokens"
```

A user can request in a market only if they own one of that market’s access tokens.

***

### 2. Create a request

Build a `requestFinancing` (interest-accrual) or `requestFixedFinancing` (fixed-repayment) transaction against the **market address** (`market.id`). Key inputs:

* `amount` and `minAmount` — the acceptable fill band (denormalize by `assetToken.decimals`).
* `maxRate` (accrual) — annual APR converted to a per-second `1e18` rate; or `repayAmount` + `duration` (fixed).
* `recipient` — where funds land; `0x0` defaults to the access-token holder.

While `status = REQUESTED (0)`, the borrower can `modifyRequest` or `closeRequest`.

***

### 3. Draw down after approval

Once `status = APPROVED (1)` and inside the window (`earliestReceiveTs`…`latestReceiveTs`, in ms), call `receiveFinancing(requestId, intents)`:

* Read `market.intents[]`, keep usable ones, **sort by rate ascending**, and pack `(adapter, intentId)` into `bytes32[]` up to `market.tranchesLimit`.
* In the standard flow, **intent selection is automatic** — the app picks the optimal set and shows a read-only preview.
* Simulate first: the call returns `(financingId, amount, err)`; a tx can mine yet still report `LACK_OF_CAPACITY`, `MAX_RATE_EXCEEDED`, or `BELOW_MIN_AMOUNT`.

See [Intents & Liquidity](/atomica/intents-and-liquidity.md).

***

### 4. Repay

Read live obligations on-chain (`interestObligations` + `principalObligations`) for an exact payoff — don’t trust the API `leftToRepay` snapshot. Then `approve` the asset token to the market and call `repay` (full) or `payInterest` / `repayPrincipal` (partial). Any address can pay.

***

### After every write

Poll `GET /provisioning-sync/last-synced-blocks` until the transaction’s block is indexed, then refetch markets/requests so your UI reflects the new state.