Application Workflow

The diagram below shows the core workflow for a loan application using our API.

We've focused on the main path to keep the view clear and easy to follow. You'll see all statuses and event callbacks, but we've left out some of the less common updates or cancellation paths to avoid clutter.

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• A box represents the loan application's status, which you can find in the Order object's Status property.
• A line shows the action or decision that leads to the next status.
• A text like -> event Initiated tells you that an Initiated event callback is sent at that specific point in the process.

The Completed status signifies that the entire loan and delivery process is finished. This means the consumer loan has been approved, signed, and activated. Additionally, the delivery has been approved and payment was successfully processed. The merchant is now set to receive their funds after the standard bank processing time.

List of Statuses

Status	Description
Created	Order created and invitation link sent to the applicant.
Initiated	The applicant has accepted the invitation, and the application has been created. The system is awaiting an initial decision.
UnderReview	The application is being manually reviewed and is pending a final decision. A review will always result in the application being either Approved or Rejected.
Approved	The application has been approved.
Rejected	The application has been denied.
ReadyForCapture	The applicant has signed the application, and it is ready to be captured by the merchant.
CaptureRequested	The merchant has requested a capture, and the system is awaiting confirmation from the payment provider.
Captured	The capture has been successful, and the payment will be processed for merchant payout at a later time.
Completed	The application has successfully reached the end of its lifecycle, including all payment processing and payouts.
Cancelled	The application has been cancelled.

List of Event Callbacks

Event	Description
Initiated	Sent when a merchant creates a loan via CreateOrder.
Approved	Sent when an application has been approved.
ApprovedAmountUpdated	Sent when the approved amount is lower than the requested amount. An Approved callback will follow this event. You must either update the order amount to the new ApprovedAmount or cancel the order.
Rejected	Sent when an application has been rejected.
UnderReview	Sent when Svea will review the application and request additional information from the applicant. A review will always result in either an Approved or Rejected status.
ReadyForCapture	Sent when the customer has signed the application and it is ready for the merchant to capture.
Captured	Sent when Svea has confirmed the order delivery after the merchant's capture request.
CaptureReverted	Contact Svea. This indicates that Svea has investigated and reverted the capture. Do not proceed with any additional actions on this order.
Completed	Sent when the loan and delivery process is finished. This means the application has been approved, signed, activated, and the delivery approved and payment successfully processed. The merchant is now set to receive their funds.
Cancelled	Sent when Svea cancels the order.