Eligibility Decisions

An Eligibility Decision represents the outcome of Prime's pre-qualification assessment of a Loan to a potential Borrower. This evaluation occurs early in the lending process and helps determine if a potential borrower meets basic underwriting criteria, all without requiring the Borrower to be present. Each Eligibility Decision is linked to a specific Business and contains a preliminary evaluation of creditworthiness.

The Eligibility Decision includes key qualification indicators such as the maximum amount a Borrower may qualify for, available loan terms, and any specific requirements that must be met. It also provides a high-level outcome status (e.g. eligible, ineligible), along with relevant reason codes that explain the decision. This information helps guide Borrowers toward appropriate products, or identify potential issues early in the process.

Through the Prime API, a new Eligibility Decision can be requested by providing basic business information. This initiates an eligibility check and retrieves any existing decision results. The Eligibility Decision serves as a quick pre-qualification tool, allowing a Partner to efficiently screen potential Borrowers to better target their customers. Once obtained, an Eligibility Decision remains valid for a specified time period (30 days) and can be referenced when creating a Loan Application.