Platform OverviewIntegration HubConfiguration and Customisation
API Reference

Loan Management

This module enables the creation of a loan management flow.

The Merchant will get notified when the loan has been funded by the Lending Provider and will be instructed on how to proceed on repayments depending on loan type.

The Merchant will be able to see the history of loan repayments, as well as the following information about the loan.

For short-term loan:

  • funding date
  • loan status: pending to be funded, funded, repaid
  • the outstanding amount yet to be repaid
  • the maturity date by which the loan needs to be repaid
  • the funded amount (the amount that the merchant borrowed)
  • the original amount (the amount that the merchant borrowed plus the fee Lender charged. i.e. the total amount that the merchant needs to repay).
  • the Current Amount at the time of full loan repayment, if applicable
  • how far ahead/behind the loan repayments are from the expected amount
  • how far ahead/behind the actual average payments are from the average expected payments as a percentage
  • the Current Amount at the time of loan write-off, if applicable
  • Credit rating score assigned by Lender (optional)

For cash advance:

  • funding date (if funded)
  • loan status: pending to be funded, funded, repaid
  • the outstanding amount yet to be repaid
  • the funded amount (the amount that the merchant borrowed)
  • the original amount (the amount that the merchant borrowed plus the fee Lender charged. i.e. the total amount that the merchant needs to repay).
  • rate type, currently limited to fixed rate only
  • repaymentTerms:
    • "Basis Points - the repayment that is deducted daily from incoming net volume;
    • "EstimatedDays" - the estimated term for repaying the loan, in days;
    • "Threshold amount” - the 30-day repayment threshold, i.e the amount to be repaid within each 30 days
    • “ Started at” - the starting day of repayments
  • Currently reached threshold amount - how much is reached for the currently targeted 30 days threshold amount
  • Credit rating score assigned by Lender (optional)
  • how far ahead/behind the loan repayments are from the expected amount
  • how far ahead/behind the actual average payments are from the average expected payments as a percentage

Using webhook events the following notifications can be set up for a loan: PENDING LINK WEBHOOKS WITH WEBHOOKS DOC

  • Loan funded - The Merchant has received funding
  • Loan repaid - The Merchant has repaid the full balance of the loan
  • Loan defaulted - The loan has defaulted due to repayment underperformance
  • Loan written-off - The loan has been written-off due to repayment underperformance
  • Payment made to advance - A repayment has been applied.
  • Reversal from advance - A previous payment has been reversed.
  • Refund from advance - A refund has been applied
  • Refund reversal to advance - A previous refund has been reversed.
  • Funding bounce-back - The payment for funding bounced back from the intended bank account