Lines of Credit

We're introducing Statuses, a comprehensive framework that brings standardized lifecycle management to lines of credit across the Canopy platform.

This feature provides distinct status options for each lending construct—including ACTIVE, SUSPENDED, PAID_OFF, and CHARGED_OFF for lines of credit—that automatically enforce specific behaviors based on operational or regulatory requirements.

In terms of automatic behavior, statuses like SUSPENDED do restrict fund access. For example, during fraud investigations, simply update a line to the SUSPENDED status and draws are immediately blocked while payments and other cyclical events continue processing.

The system also handles end-of-life scenarios automatically, transitioning loans to PAID_OFF status when final payments are made and stopping interest accrual while still allowing recovery payments on CHARGED_OFF accounts.

Statuses replace ad-hoc operational approaches with predictable, consistent system behavior that scales across your entire lending portfolio while maintaining full compatibility with existing tagging workflows.