On-line market environment (OLME)
First Claim
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1. A method of creating a Web based community of reverse credit auctions in which the borrowers present their credit needs and collaterals and the lenders analyze those projects on a caveat emptor basis and compete through the interest rates.
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Abstract
A new method of conducting loan transactions which features a Web-based community of reversed credit auctions where Borrowers present their credit needs and collaterals and Lenders analyze those projects on a caveat emptor basis and compete through the interest rates. This method, being a Consumers to Business direct model will reduce the Borrower'"'"'s costs and increase Lenders'"'"' returns.
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15 Claims
- 1. A method of creating a Web based community of reverse credit auctions in which the borrowers present their credit needs and collaterals and the lenders analyze those projects on a caveat emptor basis and compete through the interest rates.
Specification