Loan-US
Revolving Loans
Offer Revolving Loans
Revolving Loans work much like a credit card. Consumers get approved for a line of credit which they can draw against, and as they pay off the balance, they can continue to draw more funds. These loans are also customizable with a cap on accrued interest and no late fees. Revolving Loans can be offered through our developer-friendly APIs.
At the API level, Revolving Loans work the following way:
import os
from synapse_pay_rest import Client
from synapse_pay_rest import User
from synapse_pay_rest.models.nodes import LoanUsNode
kwargs = {
'nickname': 'For a Tesla Model X',
'credit_limit_amount': 500.2,
'credit_limit_currency': 'USD',
'interest_apr': 10,
'interest_cap': 5,
'payment_node_id': '576749643875603860598346',
'disbursement_node_id': '576749643875603860598346',
'document_id': base_documents[0].id,
'schedule': 'MONTHLY',
'next_payment': 30,
'num_payments': 10
}
node = LoanUsNode.create(user, **kwargs)
