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Documentation Index

Fetch the complete documentation index at: https://docs.fincode.technology/llms.txt

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Disbursement is the final stage of the loan origination process where funds are released to the customer. Our platform utilizes a wallet-based disbursement model to ensure speed and control.

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The Disbursement Process

Once a customer accepts a loan offer, the application is queued for disbursement.

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1. Wallet Creation

Upon the admin triggering disbursement:
  • The system automatically creates a virtual wallet account for the customer if one does not already exist.
  • This wallet serves as the destination for the loan proceeds.

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2. Fund Crediting

  • The approved loan amount is credited to the customer’s wallet.
  • The loan status changes to DISBURSED.
  • The repayment schedule is activated.

Check Balance

Customers can view their total approved/disbursed loan amount.

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Withdrawal Process

Customers cannot spend directly from the loan wallet; they must withdraw the funds to their personal bank account.

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Step 1: Add Bank Account

The customer must link a valid bank account to their profile.
  1. Select Bank: Choose from a list of supported banks.
  2. Enter Account Number: Input the 10-digit NUBAN.
  3. Verification: The system verifies the account name against the customer’s profile name to prevent fraud.

Get Banks

List supported banks

Verify Account

Verify account details

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Step 2: Initiate Withdrawal

The customer initiates a transfer from their wallet to their verified bank account.
  • Source: Disbursed Loan Wallet.
  • Destination: Verified Bank Account.
  • Amount: Any amount up to the available balance.
Withdrawal Fee: A processing fee (e.g., 10 Naira) is automatically deducted from the withdrawal amount or the remaining wallet balance.

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Step 3: Processing

The transfer is processed via our payment partners (e.g., Remita).
  • Instant: Most transfers are instant.
  • Status Tracking: Customers can track the status of their transfer.

Track Transfer

View the history and status of withdrawal transfers.

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Post-Disbursement

After disbursement, the focus shifts to repayment. The system will automatically track due dates and can initiate auto-debits if configured.

Manage Loans

Customers can view their active loans and repayment schedules.