Loan / credit line activated

Activation marks the moment when the loan starts to “live” — interest can accrue, payment dates apply, and the loan appears as Active in the loan list.

Fixed-term loan. Activation happens automatically right after the disbursement transaction is successfully completed. The sequence the borrower experiences:

1. The agreement is signed, and the loan is created in Pending status.
2. The system selects the disbursement provider for the loan’s product (Manual or one of the integrated providers — Squarepay, VoPay EFT/ACH/eTransfer/Flinks, Plaid, Acquired).
3. Funds are moved (or, for the manual option, a credit officer confirms the manual disbursement).
4. The system records a Disbursement event; the loan flips to Active; and the linked loan application is marked as Disbursed.

Credit line. Activation happens at creation — the credit line is born active. However, the line only becomes “useful” once the borrower issues their first drawdown. Each drawdown follows a similar disbursement step: the system picks the provider, moves funds (or asks a credit officer to confirm a manual disbursement), records a Disbursement event, and updates the snapshot to reflect the new principal balance and reduced available credit limit.