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Integration surface today: the daily sale runs as the Sales Request/Response file exchange over SFTP — schemas: Sales Request · Sales Response. A Sale API is in flight that replaces the exchange with a daily sale object and webhooks; it will be announced in Upcoming Changes when sandbox access opens. The cycle described on this page is identical across both transports.

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Why Receivables Exist

Lead is the lender of record, so every origination — a Funding you request, or card spend arriving through network settlement — creates a receivable: Lead’s claim on that loan, held on Lead’s balance sheet. What happens next depends on your program’s balance-sheet model. Most programs run Originate-to-Sell, where receivables are sold to you daily; this page describes that cycle.

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The Cycle

  1. Origination. The receivable is created and its hold period — a program-level number of business days — begins.
  2. The hold period. While Lead holds the receivable, imputed interest accrues daily at your program’s configured rate. This is the interest component of the eventual settlement amount — see Sales Settlement Amount for exactly how the day’s purchase is priced.
  3. The daily sale. Each business day, every receivable past its hold period is grouped into one sale for the day. The day’s purchase settles whole: a single cash movement from your operating account for the day’s settlement amount, with all of the day’s receivables transferring together. There is no partial settlement — the day succeeds or fails as a unit.
  4. Empty days are explicit. A day with no receivables to sell still produces the day’s exchange, so a quiet day is always distinguishable from a broken pipeline.

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Operating the Cycle

Treat the sale as a daily operational rhythm, not an event to react to:
  • Reconcile against the day’s sale as a unit — the day’s total, then its member receivables. This is the shape guaranteed stable across the file→API transition, so reconciliation built this way carries over unchanged.
  • Fund the operating account as a daily pre-check. Because settlement is all-or-nothing, an insufficient-funds failure fails the entire day’s sale. On a failure, fund the account and coordinate with your Lead team on the retry.
  • Handle the empty-day case from day one — your pipeline should treat “explicitly nothing to buy” as a success state.

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What Changes with the Sale API

Preview — full details at announcement in Upcoming Changes. The day’s sale becomes a queryable sale object carrying the day’s rollup totals and a breakdown into member receivable objects, with webhooks when the day’s sale is created and when it settles — replacing file parsing with object reads and giving you a forecast surface for what you’ll purchase and when. The daily grain, whole-day settlement, and pricing do not change.