# Definitions

<mark style="color:red;">**Lend Ratio:**</mark> A lender is in charge of setting a lend ratio on their loans. A lend ratio is the amount you lend out per one unit of collateral. &#x20;

[<mark style="color:red;">**Repayment due date:**</mark>](https://docs.vendor.finance/overview/vendor-finance-v1/definitions) A lender is in charge of setting a repayment due date. A repayment due date is the date by which the borrower repay their loan amount including interest owed.&#x20;

<mark style="color:red;">**Fixed Interest Rate:**</mark> A lender is in charge of setting a fixed interest rate for the borrower. The borrower must repay this at the repayment due date.&#x20;

<mark style="color:red;">**Perpetual:**</mark> occurring repeatedly; so frequent as to seem endless and uninterrupted. Vendor Finance accomplishes that by the means of rollovers.

<mark style="color:red;">**Rollover:**</mark> Process of migrating debt and collateral from one pool to a different pool. See Rollover section for more information.

<mark style="color:red;">**Default:**</mark> To forfeit your collateral while keeping your loan

<mark style="color:red;">**Decaying Rate:**</mark> Annualizes the interest rate throughout the term period. This makes it so whenever someone borrows they are always paying the APR you set as a lender. The rate will gradually decrease throughout the time of the loan period to ensure it hits your target APR.

<mark style="color:red;">**Strategy:**</mark> Advanced features that enable a variety of use cases. See [Strategies ](https://docs.vendor.finance/overview/vendor-finance-v2/strategies)section for more information.

<mark style="color:red;">**Private Lending Pool:**</mark> A lending pool that was created to be a private pool. This happens by whitelisting > than 1 address in the pool creation process. See [Lender First Pool](https://docs.vendor.finance/overview/vendor-finance-v2/how-tos/lender-first-pool) for more information.