Prequalification

Prequalify your customers for lending offers before they've even applied. Show them personalised loan amounts based on their business data, making your marketing more effective than generic campaigns. Prequalification is only worthwhile if you can give us a reasonable indication of each customer's revenue – without it, we can't estimate an amount for them.

What is prequalification?

Prequalification gives you estimated loan amounts for your customers without requiring them to complete a full application. These prequalified offers show customers how much they could potentially borrow from iwoca, allowing them to make informed decisions about whether to proceed.

You can use prequalification quotes to:

• Surface offers within your application or dashboard
• Power targeted email campaigns
• Send push notifications to customers with relevant offers

How prequalification works

1. 1
   Share customer data

   Upload your customers' business information through a CSV file via our API. You'll typically provide:

   • External customer ID (your internal reference)
   • Company registration number
   • SIC or MCC code (industry classification)
   • Average monthly turnover

   The CSV file can contain up to 1,000 unique customers per upload. You can share this file using the below endpoint:

   POST /prequalification_data

   Response: You'll receive a prequalification_data_id — the ID of the processed file (a filename-style string) that you pass to GET /prequalification_data to retrieve the quotes.

   Check with your iwoca Partnership Manager about which data files are required.

2. 2
   We process automatically

   Our system processes the shared data to create a prequalified offer of how much we think we could lend, if the customer were to be approved. At this stage, we don't run any credit decisions on your customer (we only do this when your customer applies for a loan).

3. 3
   Receive prequalification quotes

   Once processing is complete, you can access prequalification quotes in two ways:

   Option 1: Webhook with full quotes (recommended) Receive the complete prequalification quotes directly in the webhook payload, allowing immediate access without an additional API call. For this option, you must subscribe to the following webhook:

   prequalification_202505

   Option 2: Webhook with file ID + API request Receive a webhook notification containing the prequalification_data_id when quotes are ready. Use this ID to retrieve quotes via the API. For this option, subscribe to the following webhook:

   prequalification_data_file_processed_202510

   You can then fetch all quotes or filter by external_customer_id or prequalification_data_id. Retrieve quotes at any time by calling:

   GET /prequalification_data

   See the Get Prequalification Data endpoint reference for details.

4. 4
   Engage your customers

   With the prequalified quotes, you can encourage customers to create an application through email campaigns, push notifications, or in-app messaging.

   Each prequalified quote covers a single customer and shows whether they're prequalified. If they are, it includes the prequalified offer amount. Some customers won't be prequalified because they don't qualify or we don't have enough data to generate a prequalified offer amount.

   Every prequalified quote has a marketing_type field which suggests how you should market to your customers. There are three options:

   Marketing type	Description
   prequalified_marketing	Customer is prequalified with a specific amount. Use the amount in your marketing.
   generic_marketing	Customer may be eligible but we can't determine a specific amount. Use generic lending marketing.
   no_marketing	Customer is not eligible. Do not market lending to this customer.

5. 5
   Update quotes regularly

   As long as you keep sharing your customers' turnover data, we regenerate prequalification quotes each time you send us a new file, so your offers stay current as businesses grow and circumstances change. Most partners send a new file monthly.

   You'll receive webhook notifications for each update, or you can retrieve the latest quotes via the API at any time.

Prequalification webhooks

There are two webhook events for prequalification:

From prequalification to application

When a prequalified customer is ready to apply, they follow the same application process as any other customer. Kick off the application using the integration steps for your chosen path: API Lite or API Plus.

Next steps