Documentation

API Documentation

Column will hold outstanding principal receivable for loans for the number of days specified on the loan program or loan object. We will accrue interest receivable daily for outstanding principal receivables. Based on your terms with Column, we may also accrue a servicing fee payable to your platform daily for outstanding principal receivables retained by Column. The sale price of a loan is calculated as:

sale_price = seasoned_principal + seasoned_interest - seasoned_servicing_fee

Loan prices are updated daily in the Loan Summary Report, for which the cutoff time is 7:00 pm PT (inclusive). If there are payments or partial sales after the cutoff time, the sale price will be updated to reflect the new loan principal amount.

For example, if a loan has a $1,000 seasoned principal receivable, a $10 seasoned interest receivable, and $1 seasoned servicing fee payable:

• The initial sale price will be $1,009.
• If there is a $200 payment after the cutoff time, Column will update the sale price to $809.
• If there is a $100 partial sale after the cutoff time, the sale price will be updated to $709.

Seasoning days

Seasoning days define the number of days that Column will hold outstanding principal receivable for loans before selling them to your platform. Once principal receivables become seasoned, accrued interest receivables and servicing fees payable will also become seasoned and eligible for sale. You can set seasoning days on the loan program or loan object.

Column supports seasoning days defined as business days or calendar days. Our cutoff time for seasoning calculations is 7:00 pm PT (inclusive). The following table shows seasoned dates for disbursements on different days of the week:

• Assume no public holidays
• Disbursements are made before 7:00 pm PT (inclusive). If disbursements are made after 7:00 pm PT, they are considered as disbursed the next day for seasoning calculations.

Complete Loan Sales

You have two options to purchase loans:

• Fixed Amount: You may purchase a fixed amount of the loan by setting amount. If the fixed amount is greater than the current sale price of the loan, you will get 400 response errors.
• Percentage: You may purchase a percentage of the loan by setting percentage. If the current sale price of the loan is zero, you will get 400 response errors.

Seasoned principal receivable and interest receivable will be sold, and servicing fees payable will be paid to your platform proportionally. For example, if the sale price is $1,000, and you set amount as $400 in your request, 40% of seasoned principal, interest and servicing fees will be sold to your platform, respectively. This is equivalent to setting percentage as 0.40 in your request.

By default, we will debit the purchase funding account of the loan program to complete the sale. You can specify a purchase_funding_account_number_id when you create a sale to use a different funding account.

For example, assume a loan has a $1,000 seasoned principal receivable, a $10 seasoned interest receivable, and $1 seasoned servicing fees payable. The following request will purchase 40% of the loan using the default purchase funding account:

curl 'https://api.column.com/loans/loan_2zEi4Q067eiQqyQkGXPqEzWXn5Q/sales' \
  -XPOST \
  -u :<YOUR API KEY> \
  -H "Idempotency-Key: 8e913d8c-1071-41ab-b352-936d6fdc5197" \
  -d percentage="0.4" \
  -d currency_code="USD"

{
  "id": "lsal_2zEjnD6zlXgnc7t8NGQvn66Y1wA",
  "created_at": "2025-06-30T17:08:11Z",
  "updated_at": "2025-06-30T17:08:11Z",
  "idempotency_key": "8e913d8c-1071-41ab-b352-936d6fdc5197",
  "loan_id": "loan_2zEi4Q067eiQqyQkGXPqEzWXn5Q",
  "sold_at": "2025-06-30T17:08:11Z",
  "amount": "40360",
  "currency_code": "USD",
  "sold_principal_receivable": "40000",
  "sold_interest_receivable": "400",
  "paid_servicing_fee": "40",
  "purchase_funding_account_number_id": "acno_2zEjnBXUJwCHBXFLNMIK4wGVaia",
  "description": "Purchase of loan principal and interest receivables"
}

After the above partial sale, the sale price of the loan will be updated to $605.40. The following request will purchase the remaining $605.40 of the loan using a specific funding account:

curl 'https://api.column.com/loans/loan_2zEi4Q067eiQqyQkGXPqEzWXn5Q/sales' \
  -XPOST \
  -u :<YOUR API KEY> \
  -H "Idempotency-Key: 2c48ca9b-ba46-40af-a679-f0e326b6302a" \
  -d amount="60540" \
  -d currency_code="USD" \
  -d purchase_funding_account_number_id="acno_32CYxVSbDOAnVn2qJ1Qnc4OkuqK"

{
  "id": "lsal_32CYzfFdOGEH7dcYfiqbvpLdYXs",
  "created_at": "2025-06-30T17:08:11Z",
  "updated_at": "2025-06-30T17:08:11Z",
  "idempotency_key": "2c48ca9b-ba46-40af-a679-f0e326b6302a",
  "loan_id": "loan_2zEi4Q067eiQqyQkGXPqEzWXn5Q",
  "sold_at": "2025-06-30T17:08:11Z",
  "amount": "60540",
  "currency_code": "USD",
  "sold_principal_receivable": "60000",
  "sold_interest_receivable": "600",
  "paid_servicing_fee": "60",
  "purchase_funding_account_number_id": "acno_32CYxVSbDOAnVn2qJ1Qnc4OkuqK",
  "description": "Purchase of loan principal and interest receivables"
}

Automatic Loan Sales

If you set auto_sell = true for a loan program or loan object, Column will automatically sell the loan to your platform when its sale price is greater than zero. The automatic sale process will run daily at 2:00 pm PT and 5:00 pm PT. The default purchase funding account of loan program for a loan will be used to complete the sale.

If the default purchase funding account has insufficient funds to purchase all loans, we will automatically sell as many loans as possible and skip the remaining loans available for sale. Our customer support team will contact you to fund the purchase funding account. In order to avoid partial sale issues, please ensure the default purchase funding account has been fully funded in advance. You may use our Loan Sale Summary API to review the total sale value for a given day.

For installment loans (i.e., is_revolving = false), you may set close_after_sale = true on a loan program to close the loan after it is sold to your platform. Our auto-sale process will:

• Create an offline payment for sold principal and interest receivable. Overall outstanding principal and interest receivable will be set to zero after this offline payment.
• Forfeit any remaining fractional-cent interest receivable and servicing fees payable.
• Update the loan status to paid_off.

Revolving loans (i.e., is_revolving = true) will never be automatically closed after sale.

Loan Sale Summary

Column generates daily snapshots of loan balances and other details (Read more about Loan Summary). You can use our Loan Sale Summary API to check loans available for sale, or loans already sold to your platform, for a specific date.