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A Loan represents financing a Business has taken on: a term loan, line of credit, lease, equipment financing, or merchant cash advance. Creating a loan opens a dedicated liability account in the Business’s ledger (under NOTES_PAYABLE by default), and records the proceeds and repayments against it. A loan is made up of three related concepts:
  • Proceeds: the funds (or assets) received when the loan is drawn. A proceed is either a cash disbursement or an asset that the loan financed (for example, financed equipment). See the Loan Proceed object.
  • Payments: repayments made against the loan, each split into principal, interest, and fee portions. See the Loan Payment object.
  • Ledger account: the dedicated liability account Layer maintains for the loan, exposed as loan_account.

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Attributes

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id
string
required
Unique identifier for the loan.
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business_id
string
required
ID of the Business that holds the loan.
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external_id
string
Unique ID of the loan in your system for linking purposes.
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display_name
string
required
Human-friendly name for the loan.
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loan_type
enum
required
The type of loan. Values can be: TERM_LOAN, MCA, FLEX_LOAN, LINE_OF_CREDIT, LEASE, EQUIPMENT_FINANCING
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loan_account
ChartAccount object
required
The dedicated ledger (liability) account for this loan.
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current_balance
integer
required
Current outstanding balance of the loan, in cents.
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opening_balance
Loan Opening Balance object
The loan’s active opening balance, if one has been set: pre-existing debt recorded against Opening Balance Equity rather than explained by recorded proceeds and payments. Contains ledger_account_id, ledger_account_name, balance (in cents), effective_at, created_at, updated_at, transaction_tags, memo, metadata, and reference_number. See Backfilling existing loans.
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origination_date
ISO8601 date
required
Date the loan was originated.
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original_principal
integer
Original principal, in cents. Present for TERM_LOAN, MCA, FLEX_LOAN, LEASE, and EQUIPMENT_FINANCING.
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credit_limit
integer
Credit limit, in cents. Present for LINE_OF_CREDIT.
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fee_percentage
string
Fixed fee, expressed as a percentage in a decimal string (for example, "15" for a 15% fee). Present for MCA and FLEX_LOAN.
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loan_term_months
integer
Loan term in months. Present for TERM_LOAN, LEASE, and EQUIPMENT_FINANCING.
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completed_at
ISO8601 timestamp
When the loan was fully repaid, if applicable.
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cancelled_at
ISO8601 timestamp
When the loan was cancelled, if applicable.
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archived_at
ISO8601 timestamp
When the loan was archived, if applicable.
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memo
string
Internal note about the loan.
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metadata
object
Arbitrary JSON object you can attach for your own use. Layer stores and returns it unchanged.
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reference_number
string
Reference number for the loan.
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transaction_tags
array of Tag objects
Tags applied to this loan.

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Loan Proceed object

A Loan Proceed represents funds (or an asset) received when a loan is drawn. A proceed is one of two types:
  • DISBURSEMENT: a cash disbursement, received via a method such as ACH or check.
  • ASSET: an asset the loan financed (for example, financed equipment). The funded asset is referenced by asset_id.
Proceeds can be supplied inline when you create or update a loan, or managed individually with the loan proceed endpoints: list, create, fetch, update, and archive.

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Attributes

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id
string
required
Unique identifier for the loan proceed.
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business_id
string
required
ID of the Business that holds the loan.
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external_id
string
Unique ID of the proceed in your system for linking purposes.
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loan_id
string
required
ID of the loan this proceed belongs to.
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loan_proceed_type
enum
required
How the proceeds were received. Values can be: ASSET, DISBURSEMENT
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method
enum
required
Payment method used for the proceed. Values can be: CASH, CHECK, CREDIT_CARD, ACH, CREDIT_BALANCE, OTHER
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amount
integer
required
Proceed amount, in cents.
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asset_id
string
ID of the asset funded by this proceed. Present for ASSET proceeds.
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date
ISO8601 date
required
Date the proceed was received.
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archived_at
ISO8601 timestamp
When the proceed was archived, if applicable.
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memo
string
Internal note about the proceed.
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metadata
object
Arbitrary JSON object you can attach for your own use.
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reference_number
string
Reference number for the proceed.
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transaction_tags
array of Tag objects
Tags applied to this proceed.

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Loan Payment object

A Loan Payment is a repayment made against a loan. Each payment is broken into one or more splits by type (PRINCIPAL, INTEREST, FEE), and the splits must sum to the payment amount. Payments can optionally be deferred: recorded but not posted to the ledger until they are paid out or their due date is reached.

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Attributes

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id
string
required
Unique identifier for the loan payment.
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business_id
string
required
ID of the Business that made the payment.
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external_id
string
Unique ID of the payment in your system for linking purposes.
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loan_id
string
required
ID of the loan this payment applies to.
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splits
array of LoanPaymentSplit objects
required
The principal, interest, and fee splits that make up this payment. The split amounts sum to amount.
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amount
integer
required
Total payment amount, in cents.
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date
ISO8601 date
required
Date of the payment.
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defer_posting
boolean
required
Whether posting to the ledger is deferred.
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method
enum
required
Payment method. Values can be: CASH, CHECK, CREDIT_CARD, ACH, CREDIT_BALANCE, OTHER
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processor
string
Payment processor, if any.
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payment_clearing_account
ChartAccount object
The clearing account used for the payment, if any.
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archived_at
ISO8601 timestamp
When the payment was archived, if applicable.
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memo
string
Internal note about the payment.
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metadata
object
Arbitrary JSON object you can attach for your own use.
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reference_number
string
Reference number for the payment.
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transaction_tags
array of Tag objects
Tags applied to this payment.