Submiting an Application

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Applications are the first step in the Credit Key underwriting process. A borrower submits business and owner information, and Credit Key returns an underwriting decision. If approved, the response includes the company's Total Credit Line (TCL) and company identifier, which can be used to create and authorize orders.

Applications may be submitted through a hosted Credit Key experience or directly through the Application API, depending on your integration model.

Application Lifecycle

Every application results in one of the following underwriting decisions:

Integrations should explicitly handle all three possible outcomes.

Before You Submit an Application

Applications should include accurate business and owner information to maximize approval rates and minimize delays.

Required Information

Typical application submissions include:

• Business legal name
• Federal Tax ID (EIN)
• Annual revenue
• Business address
• Primary owner information
• Social Security Number (SSN)
• Mobile phone number
• Email address

Eligibility Notes

• The applicant must be authorized to enter into financing agreements on behalf of the business.
• Additional beneficial owner information may be required for underwriting.
• Certain applications may require supplemental documentation before a final decision can be issued.

Submit an Application

Submit a new application using the Applications endpoint.

POST /application

Example Request

{
  "company": {
    "legal_name": "Acme Manufacturing",
    "ein": "123456789",
    "gross_annual_revenue": 500000,
    "address": {
      "street": "123 Main Street",
      "city": "Chicago",
      "state": "IL",
      "zip": "60601"
    }
  },
  "owner": {
    "first_name": "John",
    "last_name": "Smith",
    "ssn": "123456789",
    "email": "[email protected]",
    "phone": "5551234567"
  }
}

Application Responses

Approved Response

An approved application includes a company identifier and available credit line.

{
  "status": "APPROVED",
  "company_id": 12345,
  "tcl": 25000
}

Declined Response

{
  "status": "DECLINED"
}

Pended Response

{
  "status": "PENDED"
}

Handling Pended Applications

A PENDED decision indicates that additional review is required before Credit Key can issue a final underwriting decision.

Common reasons include:

• Missing information
• Identity verification requirements
• Business verification requirements
• Requests for supplemental documentation

Merchants should notify borrowers that their application is still under review and that additional communication from Credit Key may be required.

What Happens After Approval?

After receiving an APPROVED decision:

1. Store the returned company_id.
2. Retrieve company information if needed.
3. Create an order for the purchase amount.
4. Present financing terms to the borrower.
5. Authorize the order.
6. Capture the order after fulfillment.

The company_id should be retained as it will be used throughout the remainder of the financing lifecycle.

Best Practices

• Validate required fields before submitting an application.
• Handle APPROVED, DECLINED, and PENDED responses explicitly.
• Store the returned company_id for future order creation.
• Ensure business and owner information is accurate and complete.
• Do not assume all decisions will be returned instantly.
• Prepare for additional beneficial owner or documentation requests when required.

Related Endpoints