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A lease is recorded over a fixed term and, in practice, recognizes a right-of-use asset. Create the loan with at least one ASSET proceed that creates (or links) the right-of-use asset; the API does not require it, but a lease should have one. If the financing exceeds the asset’s value, add a cash DISBURSEMENT proceed for the remainder.

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Step 1: Create the lease

Create a loan with loan_type set to LEASE, original_principal, and loan_term_months. Include an ASSET proceed whose new_asset has asset_type RIGHT_OF_USE_ASSET. To attach an existing asset instead, set the proceed’s asset to { "id": "<asset_id>" } or { "external_id": "<asset_external_id>" }.
Request
curl --request POST \
  --url https://sandbox.layerfi.com/v1/businesses/{businessId}/loans \
  --header 'Authorization: Bearer <token>' \
  --header 'Content-Type: application/json' \
  --data '{
  "loan_type": "LEASE",
  "external_id": "lease-001",
  "display_name": "Office equipment lease",
  "origination_date": "2024-01-15",
  "original_principal": 3000000,
  "loan_term_months": 36,
  "proceeds": [
    {
      "loan_proceed_type": "ASSET",
      "amount": 3000000,
      "date": "2024-01-15",
      "asset": {
        "new_asset": {
          "name": "Office equipment (right-of-use)",
          "external_id": "lease-001-rou",
          "asset_type": "RIGHT_OF_USE_ASSET",
          "original_value": 3000000,
          "useful_life_months": 36
        }
      }
    }
  ]
}'

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Step 2: Record repayments

Lease payments work exactly like term loan repayments: each is a loan payment split into PRINCIPAL and INTEREST, and if you have an amortization schedule we recommend pre-creating the installments with defer_posting set to true.