Preczn keeps a loan record for each loan a lending partner issues to one of your merchants' customers. Each record has a status that Preczn normalizes from the lender's own status, so your platform works against one vocabulary.

Where you get loan data

Preczn creates and updates Nelnet loans automatically from Nelnet's loan events. You don't call the Preczn API to create them. You can read the current state of a loan in these ways:

Webhooks: Subscribe to loan.created and loan.updated to receive the loan record whenever it is created or changes. For the payload, see Loan Webhook Payloads.
API: Call Get Loans or Get Loan to read loan records on demand.
Export: Download loans in bulk as CSV from the Preczn Dashboard. For details, see Loan Export.

Loan statuses

A loan's status moves from application, through activation, to closure. When Nelnet reports a status change, Preczn updates the loan record and sends a loan.updated webhook.

Preczn status	Meaning	Nelnet statuses
`Application Incomplete`	The borrower started an application but hasn't finished it.	`INCOMPLETE`
`Application Action Required`	The application needs verification before it can proceed.	`PENDING_VERIFICATION`
`Application Offers Presented`	Nelnet has presented loan offers, and the borrower hasn't accepted one yet.	`PENDING_OFFER`
`Application Declined`	The application didn't result in a loan, either because it was declined or because the application, offer, or contract expired.	`DECLINED`, `APPLICATION_EXPIRED`, `OFFER_EXPIRED`, `CONTRACT_EXPIRED`
`Application Cancelled`	The borrower withdrew the application.	`WITHDRAWN`
`Not Activated`	The loan is waiting for the borrower's signature.	`PENDING_SIGNATURE`
`Active`	The loan is ready to fund. Your merchant can perform drawdowns against it.	`READY_TO_FUND`
`Closed`	The loan can no longer be drawn down.	`FUNDING_EXPIRED`, `FINALIZED`, `FULL_DISBURSED`

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Handle unrecognized statuses
The status list can grow as Preczn adds lenders or a lender adds statuses. Don't fail on a value you don't recognize. Log it and treat it as no change.

Loan data

Preczn populates these fields on Nelnet loans. For the full definition of each field, see Loan Webhook Payloads.

Field	Value on a Nelnet loan
`brand`	`Nelnet`
`type`	`B2B2C`
`externalLoanId`	Nelnet's bank ID for the loan. Use it when you reconcile with Nelnet.
`status`	The normalized status from Loan statuses.
`creditLimit`	The loan amount Nelnet approved.
`availableCredit`	The amount Nelnet reports as currently available to draw.
`currentBalance`	The amount Nelnet has disbursed so far.
`applicationDate`	When the borrower applied, in UTC.
`originationDate`	When Nelnet approved the loan, in UTC.
`merchantDrawdownPercentageFee`	The fee percentage the merchant pays on each drawdown. For example, `8.5` is 8.5%.
`customerFirst`, `customerLast`	The borrower's name, in uppercase.
`customerPhone`	The borrower's phone number, in the format Nelnet supplies.
`customerAddress1`, `customerAddress2`, `customerCity`, `customerState`, `customerPostal`	The borrower's address.

Preczn omits a field when Nelnet doesn't supply a value for it. Nelnet loans don't include expirationDate.