Getting a Bitcoin-Backed Loan in California
My Experience and What I Learned
If you live in California and want to borrow against your Bitcoin, you’ll quickly find that your options are more limited than you might think. Between regulatory hurdles, licensing requirements, and wildly different loan terms, navigating the landscape can be frustrating. I recently went through this process myself—and after hitting a few roadblocks, I found a solution that worked.
Here’s what I learned—and what you should know—before you go looking for a Bitcoin-backed loan in the Golden State.
🔍 California’s Regulatory Landscape: What Makes It Different?
In California, crypto lenders must obtain a California Finance Lender’s License (CFL) to legally offer personal loans. This makes California one of the more regulated states in the U.S. for crypto-backed borrowing. While this protects consumers, it also means many well-known lenders simply don’t operate here—at least not for personal loans.
🛑 Who’s Not Lending to Individuals in CA?
Unchained Capital
Unchained is one of the most respected names in Bitcoin-backed lending, known for its collaborative custody model. Unfortunately, if you’re an individual in California, they’re not an option—they currently only offer loans to businesses in the state.
Ledn
Ledn is another big player with solid terms and customer service. But like Unchained, they do not offer personal loans to California residents due to licensing restrictions.
Figure
Figure is one of the few that does lend to individuals in California—but there’s a catch. Their Bitcoin-backed loan offering comes with a three-month term, which is far too short for most use cases. Also, their rates were higher than SALT. I looked into them and quickly moved on.
✅ The Winner: SALT Lending
After doing my research and ruling out other options, I ended up going with SALT Lending, and the experience was surprisingly smooth.
Here’s how it went:
📝 Application: Quick and straightforward. The process took less than 30 minutes.
📄 State requirements: I had to submit a little extra documentation because of California-specific rules, but it wasn’t too cumbersome.
🔄 Collateral transfer: Luckily, Bitcoin network fees were low at the time, which made moving funds easier.
💸 Funding speed: My loan was funded within two business days.
📈 Terms: I chose a 50% loan-to-value (LTV) option with a 10.95% interest rate, interest-only payments, and a 12-month term.
📱 App experience: SALT’s app is well-designed, with a clean interface and simple tools to manage your loan and monitor your collateral.
💡 Final Thoughts
Getting a Bitcoin-backed personal loan in California is absolutely doable—but it requires a bit of digging, and some patience. SALT Lending ended up being the best (and basically the only) viable option for me, and they delivered on what they promised.
For anyone looking to tap into the value of their Bitcoin without selling, understanding the regulatory landscape is key. And in California, that often means your choices are narrower—but not nonexistent.
Not financial or legal advice, for entertainment only, do your own homework. I hope you find this post useful as you chart your personal financial course and Build a Bitcoin Fortress in 2025.
Thanks for following my work. Always remember: freedom, health and positivity!
Please also check out my Bitcoin Fortress Podcast on all your favorite streaming platforms. I do a weekly Top Bitcoin News update every week on Sunday, focused on current items of interest to the Bitcoin community. Please check it out if you haven’t already. Also now on Fountain, where you can earn Bitcoin just for listening to your favorite podcasts.
Follow me on Nostr:
npub122fpu8lwu2eu2zfmrymcfed9tfgeray5quj78jm6zavj78phnqdsu3v4h5
If you’re looking for more great Bitcoin signal, check out friend of the show Pleb Underground here.