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

# Borrowing

Users who want to borrow at a fixed interest rate can mint fCash and sell it for currency. By selling fCash for currency, borrowers receive currency up front in exchange for the obligation to repay a fixed amount of currency at a specific future time. 

First, a borrower deposits collateral into their Notional portfolio.

![](/files/-MIvK6csmeNJFWrFTxsA)

Then the borrower mints a pair of fCash tokens at their chosen maturity.

![](/files/-MIvKAfr_4DoqZVIPyA4)

The borrower can now sell the positive fCash token into its liquidity pool in exchange for currency.

![](/files/-MIvKEgB40CQyTxIOKn5)

Now the borrower has currency they can withdraw and a future obligation to repay a fixed amount of currency collateralized by their ETH.

![](/files/-MIvKIjBt3B9IXi_hPla)

Upon maturity, the borrower can either repay the currency that they owe or their collateral can be used to cover their debt to the protocol.