If it's not clear what the loan is being used for, it's being used to inflate a bid I make so I actually get to spend all (or msot of) my own funds.  The loan itself isn't being spent (or not much of it - I can't tell for sure exactly how much excess demand there is).

My guess is it'll be around a 2.5:1 over-suscription on the IPO.  So if I want to spend 100 BTC I have to put in 250 BTC of bids.  I want to spend more than that - but can't get cash there in time to bid excessively - so am just borrowing so I can spend my OWN cash then return the loan soon as my order is partly filled.  As it's possible the filling will run into the loan a bit I gave myself 24 hours - as I'm about to head out I won't be able to sort it anyway until tomorrow (will be drinking so not gonna risk moving significant sums around when I get back).  At present there's bids for over 17 million shares with only 7 million available - and there'll be more bids going up all the time until the actual sale.  So I may STILL not get to buy all I planned to anyway.