Lending
Pull funding from merchant
5 min
the pullfunding api enables marketplace lenders (mpls) who leverage arix to manage merchant returns this functionality provides a method for mpls to retrieve funds from merchant accounts back into the bank, using {{nacha}} debits this is especially useful when a merchant initiates a return or refund, as it reduces the need for manual reconciliation or additional requests, by reusing previously funded loan it is best practice to wait three days before sending out funds after a successful pull according to nacha standards, a pull can be returned to the merchant most returns tend to occur within the first three days to reduce the likelihood of overfunding, it is advisable to wait before sending out the next fundinginfo request flow of funds when this api can be called before calling the pullfunding api, ensure the loan is eligible for using this api according to loan status and amount being requested loan status should be one of the following notfullyfunded funded readytosell sold amount being requested in the api should be greater than 0 and less than the sum of rails that have been successfully sent and haven't been returned 0 < amount <= loan amountfunded flow of pullfunding when this api succeeds, you receive an id in the response track this rail id using the railupdated webhook events the full list of fundresults of the rail is in the railresulttype enums using the pullfunding api, is essentially asking for a return of funds to the loan unlike the success of a standard push rail, a successful pull will be in a returned status and not in a success status these statuses have different meanings than other rail statuses true false 178,200false unhandled content type false unhandled content type false unhandled content type false unhandled content type false unhandled content type false unhandled content type false unhandled content type false unhandled content type false unhandled content type false unhandled content type false unhandled content type false unhandled content type put /{loanid}/ pullfunding