As the true lender, loan and line of credit (LOC) proceeds must be disbursed directly from Onbo. Onbo can disburse to various parties depending on the use case. For a Buy Now Pay Later loan, we can disburse loan proceeds to a merchant; or for a Build Credit LOC, we partner with card issuers like Lithic and Apto to disburse just-in-time (JIT).
For Onbo to complete a disbursement, you'll just need to share the bank details of the destination of the proceeds via API.
- For lines of credit, pass the
disbursement_bank_infovia either the /loc PATCH method or the /draw POST method