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

# Participants

- [Borrowers](https://docs.arbor.finance/participants/borrowers.md)
- [How does borrowing work?](https://docs.arbor.finance/participants/borrowers/how-to-borrow.md)
- [How does my DAO get verified?](https://docs.arbor.finance/participants/borrowers/verification.md)
- [How do defaults work?](https://docs.arbor.finance/participants/borrowers/how-do-defaults-work.md)
- [Credit Enhancers](https://docs.arbor.finance/participants/borrowers/credit-enhancers.md): Additional steps may be taken to enhance the borrower's credit.
- [What are the fees?](https://docs.arbor.finance/participants/borrowers/fees.md)
- [Lenders](https://docs.arbor.finance/participants/lenders.md)
- [When can I convert my bonds?](https://docs.arbor.finance/participants/lenders/when-can-i-convert-my-bonds.md)
- [How does lending work?](https://docs.arbor.finance/participants/lenders/how-to-lend.md)
- [How do defaults work?](https://docs.arbor.finance/participants/lenders/defaults.md)