Multiple disbursements

To make multiple disbursements per loan, use the endpoint, FundingInfo.

Example of Multiple Disbursements

Below are pseudo examples of how this would work with two draws.

Net funding = $10,000

Content-Type: application/json
{
  "Loan": {
    "LoanAmount": 10000,
    "NetFunding”: 9500,
    "Rails": [
      {
        "Amount": 0
      }
    ]
  }
}

First draw = $4,750

Content-Type: application/json
{
  "FundingInfoUpdate": {
    "Rails": [
      {
        "Amount": 4750
      }
    ]
  }
}

Second draw = $4,750

Content-Type: application/json
{
  "FundingInfoUpdate": {
    "Rails": [
{
"Amount”: 4750
}
    ]
  }
}

Arix ensures that the total of the loan payouts don't exceed the approved loan amount. If you try to fund more than the loan amount, Arix automatically adjusts the amount down, processes the rail, and marks the loan as fully funded.

Separate Tracking Per Draw

You can register for the webhook, RailUpdated to keep track of each draw separately. After you call PUT FundingInfo, the ID is noted as the RailId in the webhook, as shows below.