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APPARATUS TO PROVIDE LIQUID FUNDS IN THE ONLINE AUCTION AND MARKETPLACE ENVIRONMENT

  • US 20100223154A1
  • Filed: 05/06/2009
  • Published: 09/02/2010
  • Est. Priority Date: 03/02/2009
  • Status: Active Grant
First Claim
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1. A system to transfer a loan amount to a seller who is listing an item on an e-commerce web site, the system comprising:

  • a lending server to communicate with an e-commerce server hosting an e-commerce web site, the e-commerce web site serving web pages to visitors, allowing sellers to list items for sale and allowing buyers to bid on the items for sale;

    a lending database in communication with the lending server to store credit profiles of users and respective credit information; and

    a financial processing application in communication with the lending server to initiate transfer of funds using a computer communications network,wherein the lending server retrieves a credit profile for the seller from the lending database and determines, based on at least both the credit profile and on characteristics of the seller'"'"'s sales history on the e-commerce site or a similar e-commerce site, whether to issue a loan to the seller, and if so, then notifies the seller the loan is available and the terms of such loan, and if the seller accepts the loan then using the financial processor to transfer a loan amount to the seller.

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