Loan repayment and settlement are the stages where borrowers pay down what they owe until the loan is fully repaid and Pismo automatically settles it.

Manage loan repayment

When you book a loan, the Pismo platform generates a repayment schedule based on the configurations of the associated loan product.

View a loan repayment schedule

View payment progress and track the status of each individual repayment. You can use Control Center or the API.

Create loan adjustment

You can adjust a loan's repayment details for several reasons, such as correcting repayment calculation errors. When you make an adjustment, your changes update the repayment schedule and affect the overall loan balance.

You can use Control Center or the API.

When using the endpoint, your system sends a POST to /lending/v2/loans/{loanId}/adjustment with a payload.

{
  "loan_balance_impact": "PRINCIPAL",
  "adjustment_amount": 1000,
  "processing_code": "12345",
  "repayment_id": "5c075cc6-8dc2-4fe6-9ed7-cf5687d4e834"
}

This endpoint returns an idempotency_key and authorization_id in the response body.

{
  "idempotency_key": "4df987e3-8179-11ed-8209-06c7b022d1ee",
  "authorization_id": 123456789
}

Cancel a loan

If you cancel a loan before disbursement, the borrower might not be charged. If you cancel a loan after disbursement, the borrower is responsible for repaying the disbursed amount.

To cancel a loan, use the Cancel loan endpoint.

Manage settlement

The Pismo platform generates settlement rules based on the configurations of the associated loan product when a loan is booked.

If the borrower wants to repay the full amount of a loan plus any charges before the final scheduled payment date, you'll need to initiate early final settlement (EFS).

1. You must first simulate the details of the final settlement payment. The simulation calculates any repayment penalties that must be repaid in the final payment. To simulate an early settlement, use the Simulate EFS endpoint.
2. After the borrower has reviewed the details of the simulation, use the Register EFS endpoint to confirm and apply the simulation details to the loan and accept the early settlement payment.

Depending on the loan product, borrowers might be restricted from initiating an early settlement for a set period. They might also incur a penalty fee when making the final payment. The loan product defines these rules and penalties. For more information, refer to Create loan products.