SYSTEMS AND METHODS FOR INVENTORY FINANCING
First Claim
1. An asset management system for managing one or more assets pledged as collateral for one or more loans and stored within a warehouse, said system comprising:
- an inventory data collection module adapted for receiving and storing into a memory asset information for an asset received into said warehouse, said asset information for said asset comprising an asset identifier for identifying said asset, a lender identifier for identifying a lender having a lien against said asset, a borrower identifier for identifying a borrower that owns said asset, and a location identifier for identifying a location of said asset within said warehouse; and
an inventory financing reporting module adapted for;
generating an inventory report for said borrower and said lender, said inventory report comprising at least a portion of said asset information for said asset; and
in response to generating said inventory report, transmitting said inventory report to said borrower.
1 Assignment
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Accused Products
Abstract
Various embodiments of the present invention provide a system that enables lenders to provide more favorable financing arrangements to borrowers that are willing to use their warehoused inventory as collateral for the financing arrangement. In particular, the system provides a mechanism through which the lender can receive more information about and exercise a higher level of control over the warehoused inventory that secures a financing arrangement, which provides the lender with the security that the collateral will be accessible in the event of the borrower'"'"'s default. for example, such information may include what is in the inventory, where the inventory is located, the quantities of each asset within the inventory, the value of each asset in the inventory, and whether the lender can access and liquidate the assets in the event the borrower defaults on the financing arrangement.
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Citations
46 Claims
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1. An asset management system for managing one or more assets pledged as collateral for one or more loans and stored within a warehouse, said system comprising:
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an inventory data collection module adapted for receiving and storing into a memory asset information for an asset received into said warehouse, said asset information for said asset comprising an asset identifier for identifying said asset, a lender identifier for identifying a lender having a lien against said asset, a borrower identifier for identifying a borrower that owns said asset, and a location identifier for identifying a location of said asset within said warehouse; and
an inventory financing reporting module adapted for;
generating an inventory report for said borrower and said lender, said inventory report comprising at least a portion of said asset information for said asset; and
in response to generating said inventory report, transmitting said inventory report to said borrower. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27)
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28. A computer system for facilitating the exercise of control over an asset stored within a warehouse, said asset being owned by a borrower and designated as collateral for a loan provided to said borrower by a lender, said system comprising:
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an asset manager adapted for (1) storing an asset identifier for said asset located within said warehouse, said asset identifier identifying said asset, and (2) associating and storing a lender identifier associated with said asset, said lender identifier identifying said lender as having a lien against said asset;
a release manager adapted for storing release criteria associated with said lender and, in response to receiving a release request from said borrower to release said asset associated with said lender, comparing said release request to said release criteria associated with said lender; and
a report generator adapted for generating a report of said asset within said warehouse at a given time and transmitting said report to a lien authority. - View Dependent Claims (29, 30)
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31. An inventory management system for managing one or more warehoused assets securing a loan, said system comprising:
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a memory adapted for storing release criteria associated with a lender and an inventory report provided by a warehousing entity storing said warehoused assets, said inventory report comprising asset information for each of said warehoused assets;
a processor adapted for executing the steps of;
receiving a release request from a borrower, said release request identifying at least one of said warehoused assets owned by said borrower;
in response to receiving said release request, comparing said release request to said release criteria; and
in response to determining that said release request meets said release criteria, approving said release request and generating instructions for said at least one of said warehoused assets to be released from said warehouse. - View Dependent Claims (32, 33, 34, 35, 36, 37, 38, 39, 40, 41)
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42. A method of facilitating perfection of a lien against one or more assets within a warehouse, said method comprising the steps of:
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receiving said one or more assets subject to said lien into said warehouse;
storing an asset identifier for each of said one or more assets in a memory, said asset identifier identifying said asset;
associating a lender identifier with each of said asset identifiers, said lender identifier identifying said lender holding said lien;
associating location identifier with each of said asset identifiers, said location identifier identifying a physical location of said asset within said warehouse; and
generating an inventory report comprising said asset identifier, said lender identifier, and said location identifier for each of said one more assets within said warehouse at a given time. - View Dependent Claims (43, 44, 45, 46)
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Specification