Add Advancement

General

Advancements are used by lenders to increase a loan's principal balance. A lender may decide to do this if the borrower requests to borrow additional funds on a loan that has already been agreed upon. Here's what you need to know about this request:

• An advancement differs from a credit. Advancements simply affect the principal amount on a loan. Credits function like payments on a loan, and they affect loan calculations.

For an example of how advancements work within the UI, take a look at our Log an Advancement/Credit article on our help site.

Database

For information on advancements database tables, see the following articles:

• Database – Loan Advancements (loan_advancement_entity)
• Database – Advancement Category Entity (advance_category_entity)

{
    "Advancements": {
        "results": [
            {
                "modalType": "advancement",
                "date": "2022-05-06",
                "resetPastDue": 0,
                "title": "Additional Principal Amount",
                "amount": "100.00",
                "category": 1
            }
        ]
    }
}

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Try It Instructions

Our requests often provide sample payload information so that you can receive a 200 response from simply hitting the Try It button. This request is ready for you—expand the object by clicking the "+" symbol and hit Try It to send the request.

If you would like to try this request with your own tenant account, make sure to change the headers to match your own authentication information.