Application overview

Create and manage a loan application for a customer. An application specifies how much the customer wants to borrow and progresses through various statuses as iwoca assesses it.

Essentials

1. 1
   Set the amount

   Required field, in GBP. The API accepts amounts up to £10,000,000, but iwoca's product ceiling is £1,000,000 — validate to £1,000,000 on your front end. If the customer has an existing loan, amount represents the additional funds requested (response includes is_topup: true).

2. 2
   Check the status

   Poll GET /applications/latest/ or use webhooks (application_status_changed) to track progress. The is_closed field tells you whether the application can still be modified.

3. 3
   Update if needed

   Use PATCH /applications/latest/ to change amount, duration, or purpose. Only works while the application is still open (open, action_required, awaiting_underwriter, or in_underwriting).

Reference