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Introduction

Lead supports both consumer and commercial lending programs. Today, loan origination is done through secure file transfers via SFTP. You can then disburse the loan by sending us a file with disbursement details or calling our Disbursement API.

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Disbursing Loans

Once a loan origination has been approved by Lead, you can use the client_loan_id to set up a disbursement. To create a disbursement, use the Disbursement API. In cases where the disbursement amount is $0 (primarily seen in cases where the full loan amount is withheld for a period of time), you should still call the Create Disbursement API endpoint.

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Monitor Disbursements via Webhooks

After a Disbursement is created, it will transition through various states until it reaches a terminal state of succeeded or failed. At each state change we will send you a webhook that your system can ingest and use to make updates:
  • lending.disbursement.processing indicates that Lead is processing the disbursement. You can no longer cancel the disbursement.
  • lending.disbursement.succeeded confirms the disbursement has succeeded. The funds should have landed in the counterparty’s account.
  • lending.disbursement.failed indicates the disbursement has failed. The failure object on the Disbursement object will provide details on the failure.

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ACH Corrections

For ACH disbursements, there may be instances where the receiving bank identifies errors in the disbursement, such as incorrect account numbers. When such errors are detected, we will send you a lending.disbursement.ach_correction event. This event can happen regardless of the disbursement being in the terminal state of succeeded or failed. This event is crucial as it alerts your system to discrepancies that need addressing. In the case of ACH Corrections, please follow these steps:
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Review the Correction: Assess the details provided in the lending.disbursement.ach_correction event to understand the nature of the error.
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Update Your Records: Correct the erroneous details in your system to prevent future disbursement failures.
3

Resubmit if Necessary: Depending on whether the ACH has succeeded or failed, you may need to initiate the disbursement again with the corrected information.
For more details on events and webhooks, visit our Events & Webhooks page.