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. Note the following when using 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 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": [
{
"date": "2022-05-06",
"resetPastDue": 0,
"title": "Additional Principal Amount",
"amount": "100.00",
"category": 1,
"metadata": {
"newKey": "NewValue"
}
}
]
}
}