Add Advancement

This request adds an advancement to a loan.

   Click here to learn more about this request

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:

• 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)

Sample Payload

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