This specification defines the complete LoanPro integration for BTC Now's Bitcoin Installment Purchase Program. The document covers all functional requirements, lifecycle states, third-party integrations, and webhook triggers necessary to configure and operate the platform.
Interest accrues on principal. Early payoff reduces total cost to the borrower. Total repayment amount decreases with accelerated payments.
Fixed financing costs determined at origination. Full terminal value must be paid regardless of early payment. No discount for accelerated payoff.
Critical Distinction: BTC Now installment plans are NOT traditional loans. Financing costs are fixed at origination and the full terminal value must be paid regardless of payment timing.
Example: 1 BTC at $100,000 with 15% tier = $115,000 total terminal value. Monthly payment over 120 months: $958.33. Early payoff at month 60: customer still owes the remaining $57,500 — no discount is applied.
The platform is built on a 4-layer architecture separating customer-facing interfaces, BTC Now's proprietary integrations, the LoanPro servicing backend, and third-party service providers.
Layers 1 and 2 are built and maintained by BTC Now. Layer 3 is the LoanPro platform configured per this specification. Layer 4 consists of third-party services integrated natively through LoanPro or via BTC Now webhook connections.
Seven integration partners support the full loan lifecycle. Three integrate natively through LoanPro. Three are built and maintained by BTC Now with data passed to LoanPro via webhooks. One is pending final implementation.
| Integration | Responsibility | Purpose |
|---|---|---|
| Plaid | LoanPro Native | KYC/AML, income verification, bank data |
| Repay.com | LoanPro Secure Payments | ACH, debit card, eCash payment processing |
| Bloom Credit | LoanPro Native | Credit bureau reporting (Metro 2) |
| Fireblocks | BTC Now Builds | Bitcoin custody (webhook to LoanPro) |
| Kraken | BTC Now Builds | BTC acquisition (webhook to LoanPro) |
| USDC | BTC Now Builds | Stablecoin payment recording |
| UCC Filing | TBD | Lien filing capability |
Integration model: LoanPro-native integrations (Plaid, Repay, Bloom Credit) are configured within the LoanPro platform. BTC Now-built integrations (Fireblocks, Kraken, USDC) push data to LoanPro via authenticated webhooks.
The platform requires 33 functional requirements covering borrower eligibility, KYC/AML, payment processing, credit reporting, custody integration, default management, and loan servicing. All requirements are classified as Critical or High priority.
| # | Requirement | Priority |
|---|---|---|
| REQ-001 | Natural Persons Only | Critical |
| REQ-002 | U.S. Residency Verification | Critical |
| REQ-003 | Age Verification (18+) | Critical |
| REQ-004 | Plaid Bank Account Connection | Critical |
| REQ-005 | Income Verification and Re-verification | Critical |
| REQ-006 | KYC/AML Data Storage from Plaid | Critical |
| REQ-007 | Bank Records Storage from Plaid | High |
| REQ-008 | Additional Bank Account Discovery | High |
| REQ-009 | State-Based Workflow Assignment | Critical |
| REQ-010 | Document Storage (Selfies, IDs, Licenses) | Critical |
| REQ-011 | Tokenized Payment Processing via Repay.com | Critical |
| REQ-012 | Loan Note Ownership Tracking | Critical |
| REQ-013 | UCC Form Filing Capability | High |
| REQ-014 | FICO and Vantage Score Retrieval | Critical |
| REQ-015 | Credit Bureau Reporting | Critical |
| REQ-016 | Credit Dispute Management | High |
| REQ-017 | KYC Document Download from Plaid | High |
| REQ-018 | Bank Record Data Storage | High |
| REQ-019 | Automated Email and SMS Notifications | High |
| REQ-020 | ACH Return and Chargeback Visibility | Critical |
| REQ-021 | Fireblocks Data Storage (Webhook) | Critical |
| REQ-022 | Bitcoin Balance Storage (Webhook) | Critical |
| REQ-023 | Kraken Data Storage (Webhook) | Critical |
| REQ-024 | Out-of-Schedule Payment Handling | High |
| REQ-025 | Fee Tracking (Introducer, Marketing, Origination) | High |
| REQ-026 | Default Workflow with Human Review | Critical |
| REQ-027 | Loan Health Monitoring and Analytics | High |
| REQ-028 | Insurance Policy Storage | High |
| REQ-029 | Late Fee Calculation (State-Dependent) | Critical |
| REQ-030 | Payment Frequency Configuration | High |
| REQ-031 | USDC Payment Recording (Webhook) | High |
| REQ-032 | Payoff Workflow with Wallet Address Collection | Critical |
| REQ-033 | Financing Cost Tracking (Not Interest) | Critical |
Each installment plan moves through 16 discrete states organized into 5 phases. The lifecycle tracks every plan from initial application through final resolution, with automated transitions driven by the LoanPro workflow engine.
Automated transitions: State changes from Application through Active are driven by the LoanPro workflow engine. Distressed states (Delinquent, Default) trigger automated notifications and require human review before Liquidation. Terminal states are final and irreversible.
LoanPro fires 4 webhook events to BTC Now's integration layer. These webhooks trigger downstream actions in the BTC Now platform including Bitcoin acquisition, custody transfers, collateral liquidation, and wallet address collection.
Bidirectional data flow: BTC Now also pushes data back to LoanPro via webhooks — including Fireblocks custody data (REQ-021), Bitcoin balances (REQ-022), exchange transaction data (REQ-023), and USDC payment confirmations (REQ-031).
BTC Now installment plans support three payment frequencies. The terminal value remains identical regardless of the frequency selected by the borrower. All examples below are based on 1 BTC at $100,000 with a 15% financing tier.
| Frequency | Payment | Periods | Terminal Value |
|---|---|---|---|
| Weekly | $221.15 | 520 | $115,000 |
| Bi-weekly | $442.31 | 260 | $115,000 |
| Monthly | $958.33 | 120 | $115,000 |
Terminal value is identical regardless of payment frequency. The total obligation of $115,000 is fixed at origination. Payment frequency only affects the individual payment amount and the number of payment periods over the 10-year term. No frequency offers a cost advantage.
LoanPro generates 6 standard reports for portfolio management, regulatory compliance, and operational monitoring. Report delivery is automated on the cadence specified below.
| Report | Cadence | Purpose |
|---|---|---|
| Portfolio Summary | Daily | Aggregate portfolio metrics — total outstanding balance, active plan count, weighted average financing tier, collateral coverage ratio |
| Origination Report | Weekly / Monthly | New plan originations, approval rates, average plan size, tier distribution, geographic breakdown |
| Delinquency Report | Daily | Plans past due by aging bucket (30/60/90+ days), delinquency rate trending, cure rate tracking |
| Default Report | Weekly | Plans in default status, liquidation pipeline, recovery amounts, loss severity analysis |
| Payment Report | Daily | Payment collections, ACH returns, chargebacks, USDC payments received, payment method distribution |
| Credit Bureau Report | Monthly | Metro 2 file submission status, reporting accuracy metrics, dispute tracking and resolution |
The LoanPro integration must satisfy institutional-grade security requirements and maintain compliance with all applicable federal consumer lending regulations.
All compliance checks are enforced at the code level through automated workflows. State-based rules (REQ-009) ensure jurisdiction-specific requirements are applied automatically. Late fee calculations (REQ-029) follow state-dependent formulas without manual configuration.
Retention policy: All audit logs, borrower records, and transaction data must be retained for a minimum of 7 years following plan termination, consistent with federal regulatory requirements.