/loans/ is a permanent redirect to the populated borrower index.

N18 (OWNER 2026-09-25 mobile audit). The feature sidecar and the features page were re-pointed from /loans/ ("empty placeholder") to /bdcs/borrowers on 2026-06-12 (audit 1.4), but this route kept serving the ~500-row curated loan-index.html directory beside the 16k-borrower index at /bdcs/borrowers -- two borrower directories with different counts, and the /bonds/ empty-state card still linked the small one. One destination now: a 301 keeps old bookmarks and inbound links working and lets search engines consolidate on the surviving page. The pure renderer _render_borrower_directory and templates/loan-index.html are retained for now (the template is still named by tools/build_bundle_finalize.py and the anchor-colour probe); retiring them is a follow-up, not this change. Pinned by tests/test_loans_redirect_contract.py.