Eligibility & Pre-Qualification

The Prime Eligibility features allow a Partner to quickly assess if potential Borrowers meet basic lending criteria before starting a full loan application. This is similar to a pre-screening tool that helps filter out ineligible applicants early, while providing qualified ones with potential loan terms and options. This feature saves development time and improves the user experience by giving instant feedback about loan availability.

When using the Prime Eligibility system, basic applicant information is passed through Prime API, such as business details, revenue information, and credit indicators. This data is processed through Prime's decision engine and returns qualification status, available loan amounts, rates, and a unique invitation identifier for qualified applicants. This invitation ID is required to start a formal Application, as it serves as proof that pre-qualification has occurred.

Pre-qualification results are valid for 30 days, giving Borrowers time to gather additional documentation before starting a formal application. For Partner integration, typically eligibility is checked first. These results are then shown to the potential Borrower, who then uses the invitation ID to initiate the full application process for qualified applicants. Prime’s system is designed to be lightweight and fast with response times typically under 2 seconds.

Code sample

import requests
import json

def check_eligibility(auth_token, business_data):
    headers = {
        "Authorization": f"Bearer {auth_token}",
        "Content-Type": "application/json"
    }
    
    payload = {
        "business_data": {
            "legal_name": business_data["legal_name"],
            "tax_id": business_data["ein"],
            "annual_revenue": business_data["annual_revenue"],
            "years_in_business": business_data["years_in_business"]
        }
    }

    response = requests.post(
        "https://api.primeft.com/v2/eligibility",
        headers=headers,
        json=payload
    )

    if response.status_code == 200:
        result = response.json()
        return {
            "is_eligible": result["is_eligible"],
            "qualification_id": result.get("qualification_id"),
            "expires_at": result.get("expires_at")
        }