> ## Documentation Index
> Fetch the complete documentation index at: https://getequity.io/docs/llms.txt
> Use this file to discover all available pages before exploring further.

# Create Loan

> Creates a new loan using specified collateral against a matched loan configuration.

**user\_id** `string` *required*

The id of the user who will receive the loan.

**duration** `number` *required*

Loan duration in months.

**currency** `string` *required*

Loan currency (e.g., "NGN").

**interest\_rate** `number` *required*

Interest rate, expressed as a decimal between 0 and 1 (e.g., 0.05 for 5%).

**amount** `string` *required*

The amount loaned out to a customer

**repayment\_amount** `string` *required*

The amount to be paid back by the customer

**collaterals** `object[]` *required*

Array of collateral objects with token\_id and quantity.

```
[
    { "token_id": "67e2f7ed702e11a6778681a3", "quantity": 2 }, 
    { "token_id": "67e2f7ed702e11a6778681b3", "quantity": 5 }
]
```

**loan\_configuration\_id** `string` *required*

ID of the matched loan configuration.

**reason** `string`

Optional reason for the loan.

**bank\_name** `string`

Optional name of the bank to repay a loan to

**bank\_code** `string`

Optional bank code

**account\_number** `string`

Optional Account number

```json theme={null}
{
    "status": "success",
    "message": "Loan created successfully",
    "data": {
        "id": "67ef8652ad2aff781bf017c6",
        "borrower": "67d3267b6b2f7dfc493db74a",
        "creditor": "624598bd83067c00f691c0ca",
        "amount": 840000,
        "currency": "NGN",
        "repayment_amount": 1596000,
        "repayment_date": "Fri Jul 04 2025 08:12:11 GMT+0100 (West Africa Standard Time)",
        "interest_rate": 0.3,
        "duration": 3,
        "status": "ACTIVE",
        "grace_period": 5,
        "grace_period_unit": "DAYS",
        "reason": "Personal Use",
        "created_at": "2025-04-04T07:12:18.561Z",
        "updated_at": "2025-04-04T07:12:18.561Z",
        "collaterals": [
            {
                "name": "CredPal2",
                "token_id": "67e30ac4c6ee9dd9cc0fe0e4",
                "quantity": 10
            },
            {
                "name": "CredPal",
                "token_id": "66b3dd8b7f741f367b960f26",
                "quantity": 100
            }
        ]
    }
}
```


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