Loan Amount Update Guide

This guide covers everything you need to know about updating the amount of a loan either pre or post funding through the Thrive Public API.

Overview

This endpoint allows you to either increase or decrease the loan amount for a borrower when the project dictates the need. The Thrive API allows this to occur in the following situations:

• Increase Before Funding - Raise the loan amount before funding begins on the loan.
• Increase After Funding has Started - Raise the loan amount but loan has already initally been funded.
• Decrease Before Funding - Lower the loan amount before funding has been requested.
• Decrease After Funding has Started - Lower the loan amount after initial funding request.

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API Endpoint Reference

This guide covers the business workflows for updating the loan amount. For complete technical documentation of the endpoint, see our API Reference.

Loan Amount Update Process

1. Prerequisites

Before updating the loan amount, ensure:

• ✅ Loan application is not in the following statuses: "Rejected", "Fully Funded" or "Closed"
• ✅ New loan amount does not exceed the borrowers maximum approved amount.
• ✅ New loan amount is higher than our minimum required amount of $1,500.00.

2. Authentication

This endpoint requires authentication via headers:

3. Request Body

This endpoint uses JSON format and handles both the Pre and Post Funding Amount Updates.

4. Loan Amount Update Process

The process is slightly different depending on where the loan is in its life cycle, but this endpoint will handle them all for you.

Loan Decrease Pre and Post Funding

The process is the same for loan amount decrease requests for both Pre and Post funding scenarios. Since the loan agreement was signed for a larger amount initially we do not require new documents to be signed. Once the request is sent and you get a successful response from the endpoint the loan amount is updated and no further input should be neccessary.

Loan Amount Increase Pre and Post Funding

For loan amount increase requests we will require new documentation to be signed. This means that while we wait on the customer to sign new documents you will not be able to:

• Request Funding
• Request a Draw
• Request another loan amount change

To let you know when the customer signs their documents and these options are available again we have some webhooks to help keep you up to date on the signing process. We will send the following webhooks during this process:

• Status webhook will be sent showing the status moves to either Docusign or Revised Docs Pending
• DOCUMENT_SENT webhook will be sent to notify you that the new document has been sent to the borrower
• DOCUMENT_SIGNED webhook will be sent to notify you when the document has been signed and you can resume normal loan operation
• Status webhook will be sent showing the status moves back to either Approved or Funding

5. Error Examples

Application Status Prevents Loan Amount Update Request

{
  "timestamp": "2025-09-10T20:17:42.562Z",
  "statusCode": 400,
  "result": {
    "data": null,
    "error": {
      "message": "Application not in status eligible to update loan amount. Current status: Fully Funded"
    }
  }
}

Requested Amount Greater Than Approved Credit Limit

{
  "timestamp": "2025-09-10T20:17:42.562Z",
  "statusCode": 400,
  "result": {
    "data": null,
    "error": {
      "message": "Requested Amount is greater than the maximum approved credit limit of $10000"
    }
  }
}

Requested Amount Matches Current Loan Amount

{
  "timestamp": "2025-09-10T20:17:42.562Z",
  "statusCode": 400,
  "result": {
    "data": null,
    "error": {
      "message": "Updated Requested Amount matches the original Requested Amount. No update necessary."
    }
  }
}

Requested Amount Less Than Current Funded Amount

{
  "timestamp": "2025-09-10T20:17:42.562Z",
  "statusCode": 400,
  "result": {
    "data": null,
    "error": {
      "message": "Updated loan amount ($5000) is less than the amount already disbursed ($10000) to the merchant. The updated loan amount must be at least equal to the total disbursed amount."
    }
  }
}