📝 Applications

What it is

Through an application, an originator can request the issuer to underwrite a loan.
For a successful request, it is necessary to inform, in addition to the loan conditions, the entities previously registered as businesses and persons.

Application Preview 🧮

With the Application Preview you'll be able to simulate the conditions of a loan before moving on with an application. Make sure you always share the simulation with the borrower before moving on with the application.

Signing ✍️

After an application is created, a loan agreement file will be generated and you should receive it by webhook. This document must be signed by the borrower (and other related entities depending on the product) before it has any validity.

We support 2 types of signature collection:

  • We Collect the e-signatures. (recommended) You can use our automated signature collection method that sends the document directly to the signers and collect their e-signatures parameters. You can choose between EMAIL, SMS, or a LINK (for sending it yourself) by specifying the signature_collect_method when creating the application.

  • You collect the e-signatures parameters. (default) The originator must show this archive to the loan-related individuals and collect their e-signature parameters (as described at the Signature Endpoint). This method is only recommended for those who have a "logged-in experience" like a digital banking mobile app. If you don't specify any signature_collect_method, this one will be automatically selected.

Approving ✅

The application approval is done by the issuer and may vary according to the product decision rules. For more details about the approval process please contact the issuer.

Status 🚥

Status

Description

AGREEMENT_RENDERING

After an application is created, we render the loan agreement and because rendering takes some time we created a transitory status for that.

PENDING_SIGNATURE

When rendering is concluded you will be ready to collect signatures from the application signers.

PENDING_PAYMENT

The application will have this status from the moment that all the signatures are collected until it reaches the disbursement date.

ISSUED

It means that the application signing process was concluded.

CANCELED

Someone for some reason canceled the application.