Loan Object Configuration

Loan Object BODY PARAMETERS:

• loanId
• lendingRequestId (optional)
• Account Object an account which a Lending Provider sends loan funds to
• customerId used in the Toqio system to identify a Customer
• merchantId used in the Toqio system to identify a Merchant
• productType currently limited to “SHORT_TERM_LOAN” and “CASH_ADVANCE”
• providerName name of the Lending Provider
• currency currency the loan will be in
• fundingDate funding date
• loanStatus loan status: pending to be funded, funded, repaid, in default
• currentAmount the outstanding amount yet to be repaid
• maturityDate the maturity date by which the loan needs to be repaid - APPLICABLE FOR “SHORT_TERM_LOAN” ONLY
• interestRate amount in % - APPLICABLE FOR “SHORT_TERM_LOAN” ONLY
• monthlyRepayment the amount which needs to be paid monthly until the original amount is reached in full- APPLICABLE FOR “SHORT_TERM_LOAN” ONLY
• fundedAmount the funded amount (the amount that the merchant borrowed)
• rateType currently limited to fixed rate only
• originalAmount 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)
• repaymentTerms object(APPLICABLE FOR “CASH_ADVANCE” ONLY):
  • "basisPoints" 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 repayment
• Currently reached Threshold amount how much is reached for the currently targeted 30 days threshold amount -APPLICABLE FOR “CASH_ADVANCE” ONLY
• currentAmountAtRepay the Current Amount at the time of full loan repayment, if applicable
• aheadBehindValue how far ahead/behind the loan repayments are from the expected amount
• aheadBehindPercentage how far ahead/behind the actual average payments are from the average expected payments as a percentage
• currentAmountAtWriteOff the Current Amount at the time of loan write-off, if applicable
• creditRatingScore Credit rating score assigned by Lender or Third-party provider (optional)