On-line financing application services including funding sources, financing program offerings and brokers/vendors association

• US 20020138421A1
• Filed: 03/22/2001
• Published: 09/26/2002
• Est. Priority Date: 03/22/2001
• Status: Abandoned Application

• Current Assignee: Capitalstream
• Original Assignee: Capitalstream
• Inventors: Monlux, Clifford John, Picasso, Brent Antoine, Brady, James Patrick
• Application Number:
  US09/815,175
• Publication Number:
  US 20020138421A1
• Time in Patent Office: Days
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes

Abstract

An on-line financing application service (FAS) is equipped with functionalities to enable multiple funding sources to create multiple financing program offerings on-line. The FAS also facilitates the funding sources to selectively associate selected ones of the financing program offerings to multiple brokers/vendors, who in turn may create derivative financing program offerings, apply for financing, apply on behalf of their clients, or facilitate direct application by their clients, under selected ones of the financing program offerings on-line. The FAS is also equipped to allow an application submitted for consideration under a financing program offering to be automatically approved or referred to another rate sheet for quoting, another financing program offering of the same/different funding source/broker for consideration. In one embodiment, the automatic approval or referral is based at least in part on the business profile and credit information of the applicant.

Claims

1. An electronically implemented financing method comprising:

a first funding source creating a first plurality of electronically accessible financing program offerings under an electronic financing application service;

a second funding source creating a second plurality of electronically accessible financing program offerings under the electronic financing application service; and

the first and second funding sources electronically authorizing a first financing broker/vendor to electronically apply for financing on behalf of its clients or facilitate its clients to electronically apply for financing under a first financing program offering of the first financing program offerings and a second financing program offering of the second financing program offerings respectively.

2. The method of claim 1, wherein the first funding source further electronically authorizing the first financing broker/vendor to electronically apply for financing on behalf of its clients or facilitate its clients to electronically apply for financing under a third financing program offering of the first financing program offerings.

3. The method of claim 1, wherein the method further comprises

the first and second funding sources electronically authorizing a second financing broker/vendor to electronically apply for financing on behalf of its clients or facilitate its clients to electronically apply for financing under a third financing program offering of the first financing program offerings and a fourth financing program offering of the second financing program offerings, respectively.

4. The method of claim 3, wherein at least a selected one of said first and third of the first financing program offerings and the second and fourth of the second financing program offerings are the same financing program offering.

5. The method of claim 1, wherein the method further comprises

the first and second funding sources electronically authorizing the first financing broker/vendor to electronically apply for financing on behalf of its clients or facilitate its clients to electronically apply for financing under a third financing program offering of the first financing program offerings and a fourth financing program offerings of the second financing program offerings;

and

the first financing broker/vendor creating a fifth financing program offering based on at least selected two of said first, second, third and fourth financing program offerings of the first and second financing program offerings.

6. In an electronic application service apparatus, a method of operation comprising:

electronically facilitating a first and a second funding source in creating a first and a second plurality of financing program offerings respectively; and

electronically facilitating the first and second funding sources to authorizea first financing broker/vendor to apply for financing on behalf of its clients or facilitate its clients to apply for financing under a first financing program offering of the first financing program offerings and a second financing program offering of the second financing program offerings respectively.

7. The method of claim 6, wherein said electronic facilitation of authorization further comprises electronically facilitating the first funding source to authorize the first financing broker/vendor to apply for financing on behalf of its clients or facilitate its clients to apply for financing under a third financing program offering of the first financing program offerings.

8. The method of claim 6, wherein

said electronic facilitation of authorization further comprises electronically facilitating the first and second funding sources electronically authorizing a second financing broker/vendor to apply for financing on behalf of its clients or facilitate its clients to apply for financing under a third of the first financing program offerings and a fourth of the second financing program offerings.

9. The method of claim 8, wherein at least a selected one of said first and third of the first financing program offerings and the second and fourth of the second financing program offerings are the same financing program offering.

10. The method of claim 6, wherein

said electronic facilitation of authorization further comprises electronically facilitating the first and second funding sources authorizing the first financing broker/vendor to apply for financing on behalf of its clients or facilitate its clients to electronically apply for financing under a third financing program offering of the first financing program offerings and a fourth of the second financing program offerings respectively;

and

the method further comprises electronically facilitating the first financing broker/vendor to create a fifth financing program offering based on at least selected two of said first, second, third and fourth financing program offerings of the first and second financing program offerings.

11. An apparatus comprising:

storage medium having stored therein a plurality of executable instructions, when executed, operate the apparatus to

facilitate a first funding source in creating a first plurality of financing program offerings,

facilitate a second funding source in creating a second plurality of financing program offerings, and

facilitate the first funding source to authorize a first financing broker/vendor to apply for financing on behalf of its clients or facilitate its clients to apply for financing under a first financing program offering of the first financing program offerings and a second financing program offering of the second financing program offerings respectively; and

one or more processor coupled to the storage medium to execute the instructions.

12. The apparatus of claim 11, wherein the executable instructions, when executed, further operate the apparatus to facilitate the first funding source in authorizing the first financing broker/vendor to apply for financing on behalf of its clients or facilitate its clients to apply for financing under a third financing program offering of the first financing program offerings.

13. The apparatus of claim 11, wherein the executable instructions, when executed, further operate the apparatus to facilitate

the first and second funding source authorizing a second financing broker/vendor to apply for financing on behalf of its clients or facilitate its clients to apply for financing under a third financing program offering of the first financing program offerings and a fourth financing program offering of the second financing program offerings.

14. The apparatus of claim 13, wherein at least a selected one of said first and third of the first financing program offerings and the second and fourth of the second financing program offerings are the same financing program offering.

15. The apparatus of claim 11, wherein the executable instructions, when executed, further operate the apparatus to facilitate

the first and second funding sources further authorizing the first financing broker/vendor to apply for financing on behalf of its clients or facilitate its clients to electronically apply for financing under a third financing program offering of the first financing program offerings and a fourth financing program offering of the second financing program offerings;

and

the first financing broker/vendor creating a fifth financing program offering based at least on selected two of said first, second, third and fourth financing program offerings.

17. The method of claim 16, wherein said authorizing further comprises authorizing at least a selected one of the first and second financing broker/vendors to apply for financing on behalf of its clients or facilitate its clients to apply for financing under a second financing program offering of the first financing program offerings.

18. The method of claim 16, wherein the first and second financing brokers/vendors are both authorized to apply under at least one common financing program offering.

19. The method of claim 16, wherein the first and second financing brokers/vendors are each authorized to apply under under a financing program offering, the other broker/vendor is authorized.

24. The method of claim 16, wherein the first and second financing brokers/vendors are each authorized to apply under under a financing program offering, the other broker/vendor is authorized.

16. In an electronic apparatus, a method of operation comprising:

accessing a networked financing application service;

creating under said networked financing application service, a first plurality of financing program offerings; and

authorizing a first and a second financing broker/vendor to apply for financing on behalf of its clients or facilitate its clients to apply for financing under at least a first financing program offering of the first financing program offerings.

20. An apparatus comprising:

storage medium having stored therein a plurality of executable instructions, when executed, operate the apparatus to

access a networked financing application service,

create under said networked financing application service, a first plurality of financing program offerings, and

authorize in response a first and a second financing broker/vendor to apply for financing on behalf of its clients or facilitate its clients to apply for financing under at least a first of the first financing program offerings; and

a processor coupled to the storage medium to execute the instructions.

21. The apparatus of claim 20, wherein the executable instructions, when executed, further operate the apparatus to authorize at least a selected one of the first and second financing brokers/vendors to apply for financing on behalf of its clients or facilitate its clients to apply for financing under a second of the first financing program offerings.

22. The apparatus of claim 20, wherein the first and second financing brokers/vendors are both authorized to apply at least one common financing program offering.

23. The apparatus of claim 20, wherein the first and second financing brokers/vendors are both authorized to apply under at least one common financing program offering.

26. The method of claim 25, wherein said first and second financing program offerings are financing program offerings of the same funding source.

27. The method of claim 25, wherein said first and second financing program offerings are financing program offerings of different funding sources.

29. The apparatus of claim 28, wherein said first and second financing program offerings are financing program offerings of the same funding source.

30. The apparatus of claim 28, wherein said first and second financing program offerings are financing program offerings of different funding sources.

25. In an electronic apparatus, a method of operation comprising:

accessing a networked financing application service; and

electronically creating a derivative financing program offering using said networked financing application service based at least on a first and a second financing program offerings authorized using said networked financing application services.

28. An apparatus comprising:

storage medium having stored therein a plurality of executable instructions, when executed, operate the apparatus to

access a networked financing application service, and

electronically create a derivative financing program offering using said networked financing application service based at least on a first and a second financing program offerings authorized using said networked financing application services; and

a processor coupled to the storage medium to execute the instructions.

31. In an electronic application service apparatus, a method of operation comprising:

electronically facilitating a first funding source in creating a first and a second financing program offering, wherein the second financing program offering includes a financing application processing disposition that automatically refers a financing application accepted for consideration for the second financing program offering, for consideration for the first financing program offering;

electronically accepting a first financing application for consideration for the second financing program offering; and

electronically referring the accepted first financing application for consideration under the first financing program offering.

32. The method of claim 31, wherein an accepted financing application for consideration for the second financing program offering is to be given said automatic referral processing disposition if the accepted financing application fails to meet one or more funding criteria of the second financing program offering, and said electronic referral of said first financing application is made upon determining the accepted first financing application fails to meet one or more funding criteria of the second financing program offering.

33. The method of claim 32, wherein

the method further comprises electronically facilitating a second funding source in creating a third financing program offering including an automatic financing application processing disposition that refers a financing application accepted for the third financing program offering of the second funding source for consideration by the first funding source under a selected one of the first and second financing program offerings;

electronically accepting a second financing application for consideration by said second funding source under said third financing application offering; and

electronically referring the accepted second financing application for consideration by said first funding source under said selected one of the first and second financing program offerings.

35. The apparatus of claim 34, wherein an accepted financing application for consideration for the second financing program offering is to be given said automatic referral processing disposition if the accepted financing application fails to meet one or more funding criteria of the second financing program offering, and the executable instructions, when executed, further operate the apparatus to facilitate electronic referral of said first financing application upon determining the accepted first financing application fails to meet one or more funding criteria of the second financing program offering.

36. The apparatus of claim 34, wherein the executable instructions, when executed, further operate the apparatus to

facilitate a second funding source in creating a third financing program offering including an automatic financing application processing disposition that refers a financing application accepted for the third financing program offering of the second funding source for consideration by the first funding source under a selected one of the first and second financing program offerings;

electronically accept a second financing application for consideration by said second funding source under said third financing application offering; and

electronically refer the accepted second financing application for consideration by said first funding source under said selected one of the first and second financing program offerings.

38. The method of claim 37, wherein an accepted financing application for consideration for the first rate structure is to be given said automatic referral if the accepted financing application fails to meet one or more funding criteria of the at least one financing program offering.

40. The apparatus of claim 39, wherein an accepted financing application for consideration for the first rate structure is to be given said automatic referral if the accepted financing application fails to meet one or more funding criteria of the at least one financing program offering.

34. An apparatus comprising:

storage medium having stored therein a plurality of executable instructions, when executed, operate the apparatus to

facilitate a first funding source in creating a first and a second financing program offering, wherein the second financing program offering includes a financing application processing disposition that automatically refers a financing application accepted for consideration for the second financing program offering for consideration for the first financing program offering;

accept a first financing application for consideration for the second financing program offering, and

refer the accepted first financing application for consideration under the first financing program offering; and

one or more processor coupled to the storage medium to execute the instructions.

37. In an electronic application service apparatus, a method of operation comprising:

electronically facilitating a first funding source in creating a first and a second rate structure for at least a first financing program offering having a financing application processing disposition that automatically refers a financing application accepted for consideration under the first rate structure, for consideration to re-submit under the second rate structure;

electronically accepting a first financing application for consideration under the first rate structure; and

electronically referring the accepted first financing application for consideration to re-submit under the second rate structure.

39. An apparatus comprising:

storage medium having stored therein a plurality of executable instructions, when executed, operate the apparatus to

facilitate a first funding source in creating a first and a second rate structure for at least a first financing program offering having a financing application processing disposition that automatically refers a financing application accepted for consideration under the first rate structure, for consideration to re-submit under the second rate structure;

accept a first financing application for consideration under the first rate structure, and

refer the accepted first financing application for consideration for re-submission for consideration under the second rate structure; and

one or more processor coupled to the storage medium to execute the instructions.