One Time Loans

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 Unsecured One Time Loan

1. Create the Disbursement Node

   1. Synapse Deposit Node

   2. Linked account

2. Create the Repayment Node

   1. Synapse Deposit Node

   2. Linked account

3. Create a preview of the loan agreement

4. 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

5. Collect Affirmative Consent from the User

6. Run Credit Decisioning

7. Create a ONE-TIME LOAN-US Node

Notes:

• Do not set the reserve_node_id when creating the node