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: firstName lastName 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) |