Submits an application

post https://api.liberis.com/api/Application

Submits an application for funding to Liberis.

🚧
Application
There are several fields on the application endpoint. Only a few of these are mandatory to create the application, however, there's a minimum set of fields required in order to create an application without Liberis needing to contact the customer for additional information. This is detailed in the table below and split by regional requirements (UK and US). You should endeavor to send as many these fields as possible in order to provide the most frictionless customer experience.
If you are creating an application for a region that is not US or UK, please speak to your partner manager for assistance.

Minimum set of fields needed to create an application

{
    "reference": "CustomerMid",
    "applicationType": "BCA_Initial",
    "currency": "GBP",
    "applicants": [
        {
            "firstName": "John",
            "lastName": "Doe",
            "dateOfBirth": "2022-10-25T15:11:45Z",
            "primary":true
        }
    ]
}

Fields needed for a complete application, split by region

Required field	Region
reference	All
applicationType	All
intendedUseOfFunds	All
bankAccountNumber	United Kingdom and United States
bankRoutingNumber	United States only
bankName	All
sortCode	United Kingdom only
legalName	All
tradingName	All
legalConstitution	All
registrationNumber	United Kingdom only
registeredStreet	All
registeredCity	All
registeredState	United States only
registeredPostcode	All (equivalent to Zip Code in United States)
registeredCountry	All
tradingStreet	All
tradingCity	All
tradingState	All
tradingPostcode	All (equivalent to Zip Code in United States)
tradingCountry	All
industry	All
selectedPrice (object) (see below)	All
paymentChannels (object)	All
applicants (object) An applicant object is needed for the primary applicant and for each additional shareholder	All regions: email firstName lastName email dateOfBirth primary (need exactly one primary applicant) ownershipPercentage mailingStreet mailingCity mailingCountry mailingPostcode telephone United Kingdom: homeOwnership United States: mailingState socialSecurityNumber
currency	All
taxId	United States only
consentBureauSearch	United Kingdom only
consentBureauSearchDate	United Kingdom only

Price Details

Liberis provides up to 3 offers to the merchant. The selected price details need to be sent as part of the Application request

Field	Data Type	Description
split	32-bit integer	The split percentage (i.e. the percentage of each transaction that will go towards paying for the advance.)
term	double-precision number	The number of months or part-months in which it is estimated that the advance will be paid
purchasePrice	double-precision number	The advance amount
purchaseAmount	double-precision number	The total to be repaid
factorRate	double-precision number	The factor rate (multiple of the advance to derive the purchase amount)

Body Params

reference

string

required

The merchant company ID as previously provided for quoting or as part of a periodic data drop

applicationType

string

required

Defaults to BCA_Initial

Possible values: "BCA_Initial" for a customer's initial application. "BCA_Renewal" for a customer's renewal application.

currency

string

Possible values "USD", "GBP"

intendedUseOfFunds

string

Possible values: "Purchase Stock", "Purchase New Equipment", "Expand Business", "Cash Flow", "Payroll", "Taxes Due", "Other", "Refurbishment"

bankAccountNumber

string

The account number of the merchant's bank account.

bankName

string

bankAccountType

string

Possible values: "BANKGIRO", "PLUSGIRO", "IBAN", "LOCAL_SE"

bankRoutingNumber

string

Bank routing number (US partners)

sortCode

string

Bank sort code (UK partners)

tradingName

string

legalConstitution

string

Possible values: "Limited company", "Partnership", "Sole trader", "LLP", "Trading Partnership", "Limited Partnership", "Other Corporation"

registrationNumber

string

Registered business number (EIN / Company Number).

registeredStreet

string

registeredCity

string

registeredState

string

registeredCountry

string

expectedProvider

string

Where a partner uses multiple external payment providers, provide the appropriate payment provider, e.g. "Stripe".

consentBureauSearch

boolean

Whether or not the merchant consents to a bureau credit search. This may impact their credit rating.

consentBureauSearchDate

date

The date/time the merchant consented to a bureau search. If not provided, defaults to the point that the API receives the request.

consentPartnerDataSharing

boolean

Whether the merchant consents to sharing data with 3rd parties of Liberis.

consentSameProductComms

boolean

Whether the merchant consents to being contacted in future about the same product.

consentSimilarProductComms

boolean

Whether the merchant consents to being contacted in future about a similar product.

consentOtherProductComms

boolean

Whether the merchant consents to being contacted in future about other products.

sic

string

Standard industrial classification code

industry

string

Possible values: "General Store", "Trade Contractor", "Car Sales / Garage Services", "Food / Drink Shop", "Fashion Retail", "Other Retailer", "Hotel / B&B", "Restaurant", "Bar / Pub", "Healthcare", "Hair & Beauty", "Other Services"

selectedPrice

object

paymentChannels

array of objects

A payment channel should be created for each merchant identifier. There needs to be at least one payment channel.

paymentChannels

applicants

array of objects

An applicant needs to be created for each shareholder of the company. There needs to be at least one applicant.

applicants

monthlyVolumes

array of objects

The monthly transactions volumes for the merchant. An object should be created for each month.

monthlyVolumes

tradingAddresses

array of objects

tradingAddresses

ownershipPercentage

double

businessStartDate

date

The date the merchant signed up with the partner.

averageMonthlyVolumes

double

paymentProcessorEmail

string

legalName

string

kycDate

date

Where KYC is performed outside of Liberis (specific markets and partners only) provide the date of the check.

kycOutcome

string

Where KYC is performed outside of Liberis (specific markets and partners only), provide the outcome of the check.

kycCustomerRiskCategory

string

Where KYC is performed outside of Liberis (specific markets and partners only) provide the risk category.

preapprovalStatus

string

Where funding pre-approval occurs outside of Liberis (specific markets and partners only) provide the status.

referralAgentName

string

Where the merchant was referred by a third party, provide that party's name

referralAgentEmail

string

Where the merchant was referred by a third party, provide the contact email address for that party

partnerExternalId

string

taxId

string

Responses

🚧Application

Minimum set of fields needed to create an application

Fields needed for a complete application, split by region

Price Details

200200

400400

401401

403403

🚧
Application