This module enables the creation of a loan request flow.
Merchant can request a loan by submitting an application which will provide the required KYC information and documentation to the Lending Provider.
Lending requests can be approved or rejected by the Lending Provider. In some cases, the Lending Provider can ask for more information.
When a Lending Request has been approved by the Lending Provider, the Merchant gets a Loan Offer to accept.
Once the Merchant accepts the offer, the contract is issued for the Merchant to be signed. When the contact is signed, the Merchant gets a loan assigned to them.
Using webhook events the following notifications can be set up for a lending request:
- Lending Request submitted
- Lending Request rejected with reasons provided or not provided
- Lending Request requires further information
- Offer provided
- Contract issued
- Contract signed
- Offer has expired
