Loans

Creating a loan request

In MO, when your customer requests a loan, you need to start by creating a loan request, which can also be defined as a pre-loan. This entity represents the initial stage of the loan process before final approval and disbursement.

To create a new loan request, do the following:

Make an API call to the Create loan request endpoint.
Add the needed information to the request payload. The available fields of the payload are:

Field	Description	Required	Example
`amount`	Total loan amount.	Yes	`1000.00`
`number_of_installments`	Number of installments for the loan.	Yes	`12`
`downpayment_amount`	Initial payment amount.	No	`200.00`
`customer_id`	Identifier for the customer.	Yes	`3fa85f64-5717-4562-b3fc-2c963f66afa6`
`offer_id`	Identifier for the loan offer.	Yes	`5e8bbdc5-6c46-4c80-a43d-66fb8a410105`
`external_id`	The external identifier for the loan.	No	`YOUR_EXTERNAL_SYSTEM_ID`
`taken_at`	Timestamp when the loan was taken.	Yes	`2023-12-27`

Send the request.

The JSON response will present you with the pre-loan's unique identifier found in the data.id property.

Creating a loan

When a loan is approved and disbursed, it is time to create a loan, upgrading a previously created pre-loan. In MO, to do this upgrade, you need to do the following steps:

Make an API call to the Create loan endpoint.
Add the needed information to the request payload, adding the pre_loan_id to it. The available fields of the payload are:

Field	Description	Required	Example
`pre_loan_id`	Identifier for the pre-existing loan	Yes	`3fa85f64-5717-4562-b3fc-2c963f66afa6`
`aggregator_id`	Identifier for the aggregator	Yes	`5e8bbdc5-6c46-4c80-a43d-66fb8a410105`
`external_id`	The external identifier for the loan	No	`a7b8c9d0-e1f2-4b3c-8d9a-0e1f2a3b4c5d`
`disbursed_at`	Timestamp when the loan was disbursed	No	`2023-12-27`

Send the request.

The JSON response will present you with the loan's unique identifier found in the data.id property.

Definition of loan status: Loan request/Credits

Loan request:

Pending: First automatic status of each application. The loan has not yet been confirmed.
Rejected: The loan was not approved. The process ends.
Completed: The request has been confirmed and becomes an active loan.

Loans – Credits:

Active: Automatic status where the disbursement has already been made and the user is not in arrears or in violation of business rules..
Actions allowed: to make automatic and voluntary payments through the platform.
Frozen: Status that allows the change of the payment deadline. During the period that the loan is frozen, automatic payments can be made through the platform, but no new interest will be charged..
Actions allowed : voluntary payments outside the platform.
Paid: automatic status where the loan is closed because the user has completed the loan repayment schedule.
Actions allowed: not applicable.
In dispute: During the period that the loan is in "in dispute", no automatic payments can be made through the platform, but new interest will be generated but in an inactive status, once the loan change the status those charges will be activated
Actions allowed: not applicable.
Cancelled: Proactive status where the loan is cancelled due to fraud, disputes, rejections, refunds, death or refinancing. No interest or additional fees are incurred.

Rejected: When a purchase has not reached the user and the credit is completely cancelled.
Returned: When a user no longer needs the credit as the purchase did not meet expectations.
Fraud: When a credit was created by a third party and not by the customer in question and the credit is invalid.
Death: When the user is unable to repay the loan due to death.
Refinanced: When the credit is cancelled because another one has been created through refinancing.

Actions allowed: not applicable.