Credit Builder Loan

Required Language

• The following must be disclosed within TOS and on user's application screen:

  • "All loans are made by Synapse Credit LLC, NMLS 1971454, a licensed U.S. lender in designated States. Loans are [unsecured and/or secured], fully amortized personal loans. Eligibility for a loan is not guaranteed."

Create Credit Builder Loan

1. Display Loan Summary

2. Create a preview of the LOAN-RESERVE-US agreement

   1. preview_only=true

3. Display the LOAN-RESERVE-US agreement to user

4. Create a LOAN-RESERVE-US node

5. Link a payment account

6. Create a preview of the LOAN-US agreement

7. Display Disclosure to User:

   1. Required Language: “The bank services are provided by Synapse's partner banks, Members FDIC. By accepting the terms of this loan on <Insert Platform Name>, you agree to Synapse’s Consumer Loan Agreement.”

   2. Display loan Agreement

8. Collect Affirmative Consent from the User

9. Run Credit Decisioning

10. Create a ONE-TIME LOAN-US Node

    1. Set disbursement node as the LOAN-RESERVE-US node