Facilities

A facility represents an active loan or line of credit. It contains references to the borrower, application and executed loan as well as the terms and other state information about the credit facility. Facilities are used by Pier’s system for servicing, credit reporting and other down stream functionality.

Create facility

POST /facilities

Close facility

POST /facilities/{facility_id}/close

Retrieve a facility

GET /facilities/{facility_id}

List all facilities

GET /facilities

Facility Object

Parameters

id · string

Unique identifier for the facility

application_id · string

The application_id of the corresponding loan application for the facility

borrower_id · string

The borrower_id of the corresponding borrower the facility is for

loan_agreement_id · string

The loan_agreement_id of the corresponding loan agreement the facility is for

credit_type · string

The type of credit product. Can be one of installment_loan, revolving_line_of_credit, closed_line_of_credit

created_on · string

Timestamp the loan agreement object is created on

status · enum

The status of the facility. Can be one of active or closed

terms · string

An object containing a summary of the terms of the facility. See LoadOffer or LineOfCreditOffer types

Facility object

{
    "terms": {
        "amount": 2500000,
        "apr": 0,
        "annual_fee": 0,
        "billing_cycle": 30,
        "grace_period": 21,
        "grace_period_interest_rate": 0,
        "interest_rate": 0,
        "late_payment_fee": 0,
        "origination_fee": 0,
        "term": 24,
        "fund_access": [],
        "interest_type": "fixed"
    },
    "id": "fac_7264c6575a894548a386939434b0adf3",
    "application_id": "app_ad1564ffb1d745f9ad482bb5182708e2",
    "borrower_id": "bor_d965bea9f47a4b108562642dbb1dae9f",
    "loan_agreement_id": "doc_234259b117854d0194bc5864a6c45b42",
    "credit_type": "revolving_line_of_credit",
    "status": "active",
    "created_on": "2023-01-17T04:59:21.773Z"
}