  This paper provides a framework for modeling financial contagion in a network
subject to fire sales and price impacts, but allowing for firms to borrow to
cover their shortfall as well. We consider both uncollateralized and
collateralized loans. The main results of this work are providing sufficient
conditions for existence and uniqueness of the clearing solutions (i.e.,
payments, liquidations, and borrowing); in such a setting any clearing solution
is the Nash equilibrium of an aggregation game.
