Digital lending

Cancel a loan

3min

Use this call to cancel a loan by using its ID.
PUT /Loan/{{loanId}}/Cancel
If you want to cancel a loan the amount funded has to be zero, amountfunded = 0. If any of the rails have funded, it can no longer be canceled via API until all rails have been returned.
Once you cancel a loan, it goes into a terminal state of canceled and it can no longer be changed.
IMPORTANT
Once a loan is canceled, it stays forever canceled and cannot be changed. Loans that were canceled, can continue to write status updates, but they won’t change the loan.
Confirmation of the cancellation is received when you receive a LoanStatusUpdated ﻿  webhook, with the status 100 (canceled).
Request URL
https:// ... /Loan/{{loanId}}/Cancel
A body should not be submitted with this API call.
Loan statuses in which the Cancel API can be called successfully
Loan Status
Condition needed in order to call Cancel API
Received
﻿
DocsComplete
﻿
ComplianceFailed
﻿
Approved
﻿
AwaitingFunding
﻿
InFunding
amountfunded = 0 AND The only rail requested is ACH/ACHSD. (This will cancel the ACH request)
NotFullyFunded
amountfunded = 0
Returned
﻿
Funded
Should not call the API
ReadyToSell
Should not call the API
Sold (Not shown in Arix)
Should not call the API
﻿

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Updated 07 Oct 2024

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Multiple disbursements

Payment rails

Loan Status	Condition needed in order to call Cancel API
Received
DocsComplete
ComplianceFailed
Approved
AwaitingFunding
InFunding	amountfunded = 0 AND The only rail requested is ACH/ACHSD. (This will cancel the ACH request)
NotFullyFunded	amountfunded = 0
Returned
Funded	Should not call the API
ReadyToSell	Should not call the API
Sold (Not shown in Arix)	Should not call the API