> ## Documentation Index > Fetch the complete documentation index at: https://docs.layerfi.com/llms.txt > Use this file to discover all available pages before exploring further. # Create a loan > Creates a new loan for the specified business, or updates an existing one. If a loan with the same `external_id` already exists it is upserted: the loan fields are updated and, when `proceeds` is provided, its proceeds are reconciled by proceed `external_id`. A dedicated ledger account is created for new loans. The request shape depends on `loan_type`. ## OpenAPI ````yaml post /v1/businesses/{businessId}/loans openapi: 3.0.1 info: title: API version: latest servers: [] security: - BearerAuth: [] tags: [] externalDocs: url: / paths: /v1/businesses/{businessId}/loans: post: tags: [] summary: Create a loan description: >- Creates a new loan for the specified business, or updates an existing one. If a loan with the same `external_id` already exists it is upserted: the loan fields are updated and, when `proceeds` is provided, its proceeds are reconciled by proceed `external_id`. A dedicated ledger account is created for new loans. The request shape depends on `loan_type`. operationId: business.loans.post parameters: - name: businessId in: path description: The UUID of the business. required: true schema: type: string format: uuid requestBody: description: The loan to create. required: true content: application/json: schema: $ref: '#/components/schemas/CreateLoanParams' examples: term_loan_with_disbursement: summary: Term loan with a cash disbursement value: loan_type: TERM_LOAN external_id: loan-001 display_name: Equipment term loan origination_date: '2024-01-15' original_principal: 5000000 loan_term_months: 36 proceeds: - loan_proceed_type: DISBURSEMENT amount: 5000000 date: '2024-01-15' method: ACH merchant_cash_advance: summary: Merchant cash advance value: loan_type: MCA display_name: Working capital advance origination_date: '2024-03-01' original_principal: 2000000 fee_percentage: '15' line_of_credit: summary: Line of credit value: loan_type: LINE_OF_CREDIT display_name: Revolving credit line origination_date: '2024-02-01' credit_limit: 10000000 flex_loan: summary: Flex loan value: loan_type: FLEX_LOAN display_name: Flex advance origination_date: '2024-03-01' original_principal: 2000000 fee_percentage: '15' responses: '201': description: Loan created successfully. content: application/json: schema: type: object required: - data properties: data: $ref: '#/components/schemas/ApiLoan' components: schemas: CreateLoanParams: description: Parameters for creating a loan. The shape depends on `loan_type`. oneOf: - $ref: '#/components/schemas/CreateTermLoanParams' - $ref: '#/components/schemas/CreateMcaLoanParams' - $ref: '#/components/schemas/CreateFlexLoanParams' - $ref: '#/components/schemas/CreateLineOfCreditLoanParams' - $ref: '#/components/schemas/CreateLeaseLoanParams' - $ref: '#/components/schemas/CreateEquipmentFinancingLoanParams' discriminator: propertyName: loan_type mapping: TERM_LOAN: $ref: '#/components/schemas/CreateTermLoanParams' MCA: $ref: '#/components/schemas/CreateMcaLoanParams' FLEX_LOAN: $ref: '#/components/schemas/CreateFlexLoanParams' LINE_OF_CREDIT: $ref: '#/components/schemas/CreateLineOfCreditLoanParams' LEASE: $ref: '#/components/schemas/CreateLeaseLoanParams' EQUIPMENT_FINANCING: $ref: '#/components/schemas/CreateEquipmentFinancingLoanParams' ApiLoan: type: object description: >- A loan held by a business. Each loan has a dedicated child ledger (liability) account. required: - id - business_id - display_name - loan_type - loan_account - current_balance - origination_date - transaction_tags properties: id: type: string format: uuid description: Unique identifier for the loan. business_id: type: string format: uuid description: ID of the business that holds the loan. external_id: type: string nullable: true description: Unique ID of the loan in your system for linking purposes. display_name: type: string description: Human-friendly name for the loan. loan_type: $ref: '#/components/schemas/LoanType' loan_account: allOf: - $ref: '#/components/schemas/SingleApiChartAccount' description: The dedicated ledger (liability) account for this loan. current_balance: type: integer format: int64 description: Current outstanding balance of the loan, in cents. origination_date: type: string format: date description: Date the loan was originated. original_principal: type: integer format: int64 nullable: true description: >- Original principal, in cents. Present for `TERM_LOAN`, `MCA`, `LEASE`, and `EQUIPMENT_FINANCING`. credit_limit: type: integer format: int64 nullable: true description: Credit limit, in cents. Present for `LINE_OF_CREDIT`. fee_percentage: type: string nullable: true description: >- Fixed fee, expressed as a percentage in a decimal string (for example, `"15"` for a 15% fee). Present for `MCA` and `FLEX_LOAN`. loan_term_months: type: integer format: int32 nullable: true description: >- Loan term in months. Present for `TERM_LOAN`, `LEASE`, and `EQUIPMENT_FINANCING`. completed_at: type: string format: date-time description: When the loan was fully repaid, if applicable. nullable: true cancelled_at: type: string format: date-time description: When the loan was cancelled, if applicable. nullable: true archived_at: type: string format: date-time description: When the loan was archived, if applicable. nullable: true memo: type: string nullable: true description: Internal note about the loan. metadata: type: object additionalProperties: true nullable: true description: >- Arbitrary JSON object you can attach for your own use. Layer stores and returns it unchanged. reference_number: type: string nullable: true description: Reference number for the loan. transaction_tags: type: array items: $ref: '#/components/schemas/ApiTag' description: Tags applied to this record. CreateTermLoanParams: type: object required: - loan_type - display_name - origination_date - original_principal properties: loan_type: type: string enum: - TERM_LOAN description: Discriminator. Must be `TERM_LOAN`. external_id: type: string nullable: true description: Unique ID of the loan in your system for linking purposes. display_name: type: string description: Human-friendly name for the loan. origination_date: type: string format: date description: Date the loan was originated. parent_ledger_account_identifier: allOf: - $ref: '#/components/schemas/AccountIdentifier' nullable: true description: >- Parent ledger account under which the loan's dedicated liability account is created. Defaults to `NOTES_PAYABLE`. original_principal: type: integer format: int64 description: Original principal of the loan, in cents. loan_term_months: type: integer format: int32 nullable: true description: Term of the loan, in months. proceeds: type: array items: $ref: '#/components/schemas/CreateLoanProceedParams' description: >- Loan proceeds. Optional. On create, sets the loan's initial proceeds. Because creating with an existing `external_id` upserts the loan, on a subsequent call this list is reconciled against the loan's existing proceeds by proceed `external_id` (matched proceeds are updated, existing proceeds that are absent or have no `external_id` are archived, and new entries are created). Omit the field or set it to `null` to leave the existing proceeds untouched. Individual proceeds can also be managed with the loan proceed endpoints. nullable: true memo: type: string nullable: true description: Internal note about the loan. metadata: type: object additionalProperties: true nullable: true description: >- Arbitrary JSON object you can attach for your own use. Layer stores and returns it unchanged. reference_number: type: string nullable: true description: Reference number for the loan. title: Term loan CreateMcaLoanParams: type: object required: - loan_type - display_name - origination_date - original_principal - fee_percentage properties: loan_type: type: string enum: - MCA description: Discriminator. Must be `MCA`. external_id: type: string nullable: true description: Unique ID of the loan in your system for linking purposes. display_name: type: string description: Human-friendly name for the loan. origination_date: type: string format: date description: Date the loan was originated. parent_ledger_account_identifier: allOf: - $ref: '#/components/schemas/AccountIdentifier' nullable: true description: >- Parent ledger account under which the loan's dedicated liability account is created. Defaults to `NOTES_PAYABLE`. original_principal: type: integer format: int64 description: Original principal (advance amount), in cents. fee_percentage: type: string description: >- Merchant cash advance fee, expressed as a percentage in a decimal string (for example, `"15"` for a 15% fee, or `"15.5"` for 15.5%). proceeds: type: array items: $ref: '#/components/schemas/CreateLoanProceedParams' description: >- Loan proceeds. Optional. On create, sets the loan's initial proceeds. Because creating with an existing `external_id` upserts the loan, on a subsequent call this list is reconciled against the loan's existing proceeds by proceed `external_id` (matched proceeds are updated, existing proceeds that are absent or have no `external_id` are archived, and new entries are created). Omit the field or set it to `null` to leave the existing proceeds untouched. Individual proceeds can also be managed with the loan proceed endpoints. nullable: true memo: type: string nullable: true description: Internal note about the loan. metadata: type: object additionalProperties: true nullable: true description: >- Arbitrary JSON object you can attach for your own use. Layer stores and returns it unchanged. reference_number: type: string nullable: true description: Reference number for the loan. title: Merchant cash advance CreateFlexLoanParams: type: object required: - loan_type - display_name - origination_date - original_principal - fee_percentage properties: loan_type: type: string enum: - FLEX_LOAN description: Discriminator. Must be `FLEX_LOAN`. external_id: type: string nullable: true description: Unique ID of the loan in your system for linking purposes. display_name: type: string description: Human-friendly name for the loan. origination_date: type: string format: date description: Date the loan was originated. parent_ledger_account_identifier: allOf: - $ref: '#/components/schemas/AccountIdentifier' nullable: true description: >- Parent ledger account under which the loan's dedicated liability account is created. Defaults to `NOTES_PAYABLE`. original_principal: type: integer format: int64 description: Original principal (advance amount), in cents. fee_percentage: type: string description: >- Fixed fee, expressed as a percentage in a decimal string (for example, `"15"` for a 15% fee). proceeds: type: array items: $ref: '#/components/schemas/CreateLoanProceedParams' description: >- Loan proceeds. Optional. On create, sets the loan's initial proceeds. Because creating with an existing `external_id` upserts the loan, on a subsequent call this list is reconciled against the loan's existing proceeds by proceed `external_id` (matched proceeds are updated, existing proceeds that are absent or have no `external_id` are archived, and new entries are created). Omit the field or set it to `null` to leave the existing proceeds untouched. Individual proceeds can also be managed with the loan proceed endpoints. nullable: true memo: type: string nullable: true description: Internal note about the loan. metadata: type: object additionalProperties: true nullable: true description: >- Arbitrary JSON object you can attach for your own use. Layer stores and returns it unchanged. reference_number: type: string nullable: true description: Reference number for the loan. title: Flex loan CreateLineOfCreditLoanParams: type: object required: - loan_type - display_name - origination_date - credit_limit properties: loan_type: type: string enum: - LINE_OF_CREDIT description: Discriminator. Must be `LINE_OF_CREDIT`. external_id: type: string nullable: true description: Unique ID of the loan in your system for linking purposes. display_name: type: string description: Human-friendly name for the loan. origination_date: type: string format: date description: Date the loan was originated. parent_ledger_account_identifier: allOf: - $ref: '#/components/schemas/AccountIdentifier' nullable: true description: >- Parent ledger account under which the loan's dedicated liability account is created. Defaults to `NOTES_PAYABLE`. credit_limit: type: integer format: int64 description: Credit limit of the line of credit, in cents. proceeds: type: array items: $ref: '#/components/schemas/CreateLoanProceedParams' description: >- Loan proceeds. Optional. On create, sets the loan's initial proceeds. Because creating with an existing `external_id` upserts the loan, on a subsequent call this list is reconciled against the loan's existing proceeds by proceed `external_id` (matched proceeds are updated, existing proceeds that are absent or have no `external_id` are archived, and new entries are created). Omit the field or set it to `null` to leave the existing proceeds untouched. Individual proceeds can also be managed with the loan proceed endpoints. nullable: true memo: type: string nullable: true description: Internal note about the loan. metadata: type: object additionalProperties: true nullable: true description: >- Arbitrary JSON object you can attach for your own use. Layer stores and returns it unchanged. reference_number: type: string nullable: true description: Reference number for the loan. title: Line of credit CreateLeaseLoanParams: type: object required: - loan_type - display_name - origination_date - original_principal - loan_term_months properties: loan_type: type: string enum: - LEASE description: Discriminator. Must be `LEASE`. external_id: type: string nullable: true description: Unique ID of the loan in your system for linking purposes. display_name: type: string description: Human-friendly name for the loan. origination_date: type: string format: date description: Date the loan was originated. parent_ledger_account_identifier: allOf: - $ref: '#/components/schemas/AccountIdentifier' nullable: true description: >- Parent ledger account under which the loan's dedicated liability account is created. Defaults to `NOTES_PAYABLE`. original_principal: type: integer format: int64 description: Original principal of the lease, in cents. loan_term_months: type: integer format: int32 description: Term of the lease, in months. proceeds: type: array items: $ref: '#/components/schemas/CreateLoanProceedParams' description: >- Loan proceeds. Optional. On create, sets the loan's initial proceeds. Because creating with an existing `external_id` upserts the loan, on a subsequent call this list is reconciled against the loan's existing proceeds by proceed `external_id` (matched proceeds are updated, existing proceeds that are absent or have no `external_id` are archived, and new entries are created). Omit the field or set it to `null` to leave the existing proceeds untouched. Individual proceeds can also be managed with the loan proceed endpoints. nullable: true memo: type: string nullable: true description: Internal note about the loan. metadata: type: object additionalProperties: true nullable: true description: >- Arbitrary JSON object you can attach for your own use. Layer stores and returns it unchanged. reference_number: type: string nullable: true description: Reference number for the loan. title: Lease CreateEquipmentFinancingLoanParams: type: object required: - loan_type - display_name - origination_date - original_principal - loan_term_months properties: loan_type: type: string enum: - EQUIPMENT_FINANCING description: Discriminator. Must be `EQUIPMENT_FINANCING`. external_id: type: string nullable: true description: Unique ID of the loan in your system for linking purposes. display_name: type: string description: Human-friendly name for the loan. origination_date: type: string format: date description: Date the loan was originated. parent_ledger_account_identifier: allOf: - $ref: '#/components/schemas/AccountIdentifier' nullable: true description: >- Parent ledger account under which the loan's dedicated liability account is created. Defaults to `NOTES_PAYABLE`. original_principal: type: integer format: int64 description: Original principal of the financing, in cents. loan_term_months: type: integer format: int32 description: Term of the financing, in months. proceeds: type: array items: $ref: '#/components/schemas/CreateLoanProceedParams' description: >- Loan proceeds. Optional. On create, sets the loan's initial proceeds. Because creating with an existing `external_id` upserts the loan, on a subsequent call this list is reconciled against the loan's existing proceeds by proceed `external_id` (matched proceeds are updated, existing proceeds that are absent or have no `external_id` are archived, and new entries are created). Omit the field or set it to `null` to leave the existing proceeds untouched. Individual proceeds can also be managed with the loan proceed endpoints. nullable: true memo: type: string nullable: true description: Internal note about the loan. metadata: type: object additionalProperties: true nullable: true description: >- Arbitrary JSON object you can attach for your own use. Layer stores and returns it unchanged. reference_number: type: string nullable: true description: Reference number for the loan. title: Equipment financing LoanType: type: string description: The type of loan. enum: - TERM_LOAN - MCA - FLEX_LOAN - LINE_OF_CREDIT - LEASE - EQUIPMENT_FINANCING SingleApiChartAccount: type: object properties: type: type: string description: Resource type. Value will be `Single_Chart_Account`. example: Single_Chart_Account id: $ref: '#/components/schemas/AccountIdentifier' name: type: string description: Name of the account. example: Current Assets account_number: type: string nullable: true description: Account number if configured. example: '4000' stable_name: $ref: '#/components/schemas/AccountStableName' normality: $ref: '#/components/schemas/BankTransactionDirection' account_type: $ref: '#/components/schemas/ApiLedgerAccountType' account_subtype: $ref: '#/components/schemas/ApiLedgerAccountSubtype' description: A single ledger account without nested children. ApiTag: type: object properties: id: type: string format: uuid description: ID for the tag. key: type: string description: Key for the tag. example: ExampleTagKey dimension_display_name: type: string nullable: true description: Display name for the tag dimension. value: type: string description: Value for the tag. example: ExampleTagValue value_display_name: type: string nullable: true description: Display name for the tag value definition. dimension_id: type: string format: uuid description: ID of the tag dimension this tag belongs to. definition_id: type: string format: uuid description: ID of the tag value definition. archived_at: type: string format: date-time nullable: true description: When the tag was archived. required: - id - key - value - dimension_id - definition_id AccountIdentifier: oneOf: - $ref: '#/components/schemas/AccountId' description: ID of the account. title: Account ID - $ref: '#/components/schemas/AccountStableName' description: Stable name associated with the account. title: Account Stable Name CreateLoanProceedParams: description: 'A loan proceed: funds (or an asset) received from the loan.' oneOf: - $ref: '#/components/schemas/CreateLoanAssetProceedParams' - $ref: '#/components/schemas/CreateLoanDisbursementProceedParams' discriminator: propertyName: loan_proceed_type mapping: ASSET: $ref: '#/components/schemas/CreateLoanAssetProceedParams' DISBURSEMENT: $ref: '#/components/schemas/CreateLoanDisbursementProceedParams' AccountStableName: type: object required: - type - stable_name properties: type: type: string enum: - StableName description: Resource type. Value will be `StableName`. example: StableName stable_name: type: string example: CURRENT_ASSETS description: Stable name of the account. BankTransactionDirection: type: string enum: - CREDIT - DEBIT ApiLedgerAccountType: type: object properties: value: $ref: '#/components/schemas/LedgerAccountType' description: Type of the account. display_name: type: string description: Display name of the account type. example: Asset ApiLedgerAccountSubtype: type: object properties: value: $ref: '#/components/schemas/LedgerAccountSubtype' display_name: type: string description: Display name of the account subtype. example: Current Assets AccountId: type: object required: - type - id properties: type: type: string enum: - AccountId description: Resource type. Value will be `AccountId`. example: AccountId id: type: string format: uuid description: ID of the account. CreateLoanAssetProceedParams: type: object title: Asset proceed required: - loan_proceed_type - amount - date - asset properties: loan_proceed_type: type: string enum: - ASSET description: Discriminator. Must be `ASSET`. external_id: type: string nullable: true description: Unique ID of the proceed in your system for linking purposes. amount: type: integer format: int64 description: Proceed amount, in cents. date: type: string format: date description: Date the proceed was received. asset: $ref: '#/components/schemas/CreateLoanProceedAssetRef' CreateLoanDisbursementProceedParams: type: object title: Disbursement proceed required: - loan_proceed_type - amount - date properties: loan_proceed_type: type: string enum: - DISBURSEMENT description: Discriminator. Must be `DISBURSEMENT`. external_id: type: string nullable: true description: Unique ID of the proceed in your system for linking purposes. amount: type: integer format: int64 description: Proceed amount, in cents. date: type: string format: date description: Date the proceed was received. method: allOf: - $ref: '#/components/schemas/PaymentMethod' default: OTHER description: Payment method used for the cash disbursement. Defaults to `OTHER`. LedgerAccountType: type: string enum: - ASSET - LIABILITY - EQUITY - REVENUE - EXPENSE LedgerAccountSubtype: type: string enum: - BANK_ACCOUNTS - ACCOUNTS_RECEIVABLE - INVENTORY - PAYMENT_PROCESSOR_CLEARING_ACCOUNT - FIXED_ASSET - ACCUMULATED_DEPRECIATION - CASH - UNDEPOSITED_FUNDS - CURRENT_ASSET - NON_CURRENT_ASSET - PREPAID_EXPENSES - DEVELOPMENT_COSTS - LOANS_RECEIVABLE - INTANGIBLE_ASSET - ACCOUNTS_PAYABLE - CREDIT_CARD - TAXES_PAYABLE - INCOME_TAXES_PAYABLE - SALES_TAXES_PAYABLE - OTHER_TAXES_PAYABLE - PAYROLL_TAXES_PAYABLE - UNEARNED_REVENUE - PAYROLL_LIABILITY - PAYROLL_CLEARING - LINE_OF_CREDIT - TIPS - REFUND_LIABILITIES - UNDEPOSITED_OUTFLOWS - OUTGOING_PAYMENT_CLEARING_ACCOUNT - OTHER_CURRENT_LIABILITY - LOANS_PAYABLE - NOTES_PAYABLE - SHAREHOLDER_LOAN - NON_CURRENT_LIABILITY - CONTRIBUTIONS - DISTRIBUTIONS - COMMON_STOCK - PREFERRED_STOCK - ADDITIONAL_PAID_IN_CAPITAL - RETAINED_EARNINGS - ACCUMULATED_ADJUSTMENTS - OPENING_BALANCE_EQUITY - OTHER_EQUITY - SALES - UNCATEGORIZED_REVENUE - RETURNS_ALLOWANCES - DIVIDEND_INCOME - INTEREST_INCOME - OTHER_INCOME - COGS - OPERATING_EXPENSES - PAYROLL - TAXES_LICENSES - UNCATEGORIZED_EXPENSE - CHARITABLE_CONTRIBUTIONS - LOAN_EXPENSES - FINANCE_COSTS - INTEREST_EXPENSES - DEPRECIATION - AMORTIZATION - BAD_DEBT - OTHER_EXPENSES CreateLoanProceedAssetRef: description: >- Reference to the asset funded by an `ASSET` proceed. Either link an existing asset by `id` or `external_id`, or create a new asset inline with `new_asset`. oneOf: - type: object title: Existing asset description: Link an existing asset. Provide either `id` or `external_id`. properties: id: type: string format: uuid nullable: true description: ID of an existing asset to link to this proceed. external_id: type: string nullable: true description: External ID of an existing asset to link to this proceed. - type: object title: New asset required: - new_asset properties: new_asset: $ref: '#/components/schemas/CreateAssetParams' PaymentMethod: type: string enum: - CASH - CHECK - CREDIT_CARD - ACH - CREDIT_BALANCE - OTHER CreateAssetParams: type: object description: >- Parameters for creating a fixed asset. Creates a dedicated ledger account for the asset under the parent account (defaults to Fixed Assets). required: - name - asset_type properties: name: type: string description: Name of the asset. external_id: type: string nullable: true description: >- Unique ID of the asset in your system for linking purposes. Creating an asset with an `external_id` that already exists upserts the existing asset. asset_type: $ref: '#/components/schemas/AssetType' parent_ledger_account_identifier: allOf: - $ref: '#/components/schemas/AccountIdentifier' nullable: true description: >- Parent ledger account under which the asset's dedicated account is created. Defaults to Fixed Assets. accumulated_depreciation_account: allOf: - $ref: '#/components/schemas/AccountIdentifier' nullable: true description: >- Accumulated depreciation account for the asset. Required before recording `DEPRECIATION_AMORTIZATION` value updates. original_value: type: integer format: int64 nullable: true description: Original purchase value, in cents. salvage_value: type: integer format: int64 nullable: true description: Estimated salvage (residual) value, in cents. useful_life_months: type: integer format: int32 nullable: true description: Useful life of the asset, in months. memo: type: string nullable: true description: Internal note about the asset. metadata: type: object additionalProperties: true nullable: true description: >- Arbitrary JSON object you can attach for your own use. Layer stores and returns it unchanged. reference_number: type: string nullable: true description: Reference number for the asset. AssetType: type: string description: The type of fixed asset. enum: - RIGHT_OF_USE_ASSET - VEHICLE - EQUIPMENT - GOODWILL securitySchemes: BearerAuth: type: http scheme: bearer bearerFormat: JWT ````