v1

latestOpenAPI 3.0.32026-07-2621102.1 MB

Loan

Create SMB Loan

Use the Create SMB Loan endpoint to create a small and midsize business (SMB) installment loan for a customer. Loan subproducts are configured for your installment loans product and are assigned a subproduct ID. Ensure you have the required <a href="doc:setup-for-installment-loans#manage-customer-records" target="_blank">customer data</a> to create a loan.

For optional parameters, do not pass an empty string or null value.

post/1.0/createSMBLoan

Response

Success

status_codeinteger nullable required

The response status code. May return a string for some statuses.

statusstring nullable required

The condition of a process or response

processing_timenumber float nullable required

The time elapsed in processing the transaction

system_timestampstring date-time nullable required

A system generated timestamp

rtokenstring nullable required

A Galileo-generated ID used for tracking

errorsstring[]

A list of errors generated while the request was processed

Example response

{
  "response_data": {
    "loan_id": "450825953",
    "loan_apr": 15,
    "rate_type": "FIXED",
    "late_fee": 5,
    "initial_projected_maturity_date": "2022-07-01",
    "application_number": "589841564",
    "itemization_of_amount_financed": {
      "loan_amount": 10000,
      "disbursed_amount": 10000,
      "projected_interest_amount": 10,
      "projected_fees_amount": 10
    },
    "amortization_schedules": [
      {
        "amort_installment_number": 1,
        "amort_payment_due_date": "2022-02-01",
        "amort_payment_amount": 1740.34,
        "amort_payment_principal": 1000,
        "amort_payment_fees": 7.51,
        "amort_payment_interest": 10,
        "amort_payment_balance": 2000
      }
    ],
    "count_of_installments": 4,
    "installment_amount": 1740.34,
    "loan_start_date": "2022-06-02",
    "first_installment_due_date": "2022-02-01"
  }
}