Loan applications

The loan application object

id integer

Unique identifier for the object.

student_first_name string

The first name of the student applying for the loan application.

student_last_name string

The last name of the student applying for the loan application.

deposit_amount_in_pence integer

Amount (in pence) that the student has agreed to pay as a deposit.

loan_amount_in_pence integer

Amount (in pence) that the student has borrowed from Knoma.

merchant_fee_amount_in_pence integer

Amount (in pence) that Knoma is charging the partner.

lead_amount_in_pence integer

Amount (in pence) that Knoma charging the partner for courses sold via the Knoma Marketplace.

status string

Current status of the loan_application: incomplete, in_review, approved, funded, declined, cancelled.

• The application is incomplete whilst a student is filling out the application. It will remain in this state for X business days, when Knoma invalidates the application.
• An application in_review requires a manual review step by the Knoma credit risk team.
• An approved application is approved, but not funded (the student needs to log in and sign the final agreement. An approved application will move to cancelled if it's not taken up with X business days.
• A funded loan application has been approved and the funds either have or will be sent to your bank account. - A declined loan application is one we won't fund due to a failure of one of our checks. As it stands, we're unable to share the reason for a declined application.
• A cancelled loan application is one that has been cancelled either by Knoma, the partner, or the student.