Crowdvouching

• US 20200134715A1
• Filed: 10/31/2018
• Published: 04/30/2020
• Est. Priority Date: 10/31/2018
• Status: Abandoned Application

• Current Assignee: Evgenii Lobachev
• Original Assignee: Evgenii Lobachev
• Inventors: Lobachev, Evgenii
• Application Number:
  US16/176,548
• Publication Number:
  US 20200134715A1
• Time in Patent Office: Days
• CPC Class Codes: G06F 16/245 Query processing
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis

Abstract

A method for securing loan repayments by vouching monetary contributions from multiple guarantors on a platform, whereby borrowers submit loan requests to a database and guarantors search the database and select borrowers they want to vouch for. The guarantors then consent to act as guarantors on loans made to the selected borrowers and, in addition, make an investment by contributing funds to an intermediary which is kept safely in escrow that will be released to the lender in case of default by borrower. The lender lends money to the selected borrowers. The resulting guarantor-guaranteed loans are serviced by the intermediary for a commission.

Claims

1. A method for securing loan repayments by vouching monetary contributions from multiple guarantors on a platform, comprising the steps of:

receiving a loan request from a prospective borrower;

storing the loan request in a database;

a prospective guarantor searching the database;

the prospective guarantor selecting the prospective borrower;

the prospective guarantor agreeing to act as a guarantor on a loan to the prospective borrower;

the guarantor making an investment by contributing funds to an intermediary;

the lender making a loan to the prospective borrower, the prospective borrower becoming a loan recipient.

the loan being guaranteed by the prospective guarantor, the prospective guarantor becoming an guarantor/guarantor.

2. The method of claim 1, wherein the loan is guaranteed by more than one guarantor/guarantor.

3. The method of claim 1, including more than one lender.

4. The method of claim 1, including more than one database.

5. The method of claim 1, further comprising the step of the prospective borrower searching the database.

6. The method of claim 1, including more than one loan recipient and/or more than one guarantor/guarantor.

7. A method for coordinating guarantor-guaranteed loans on a platform, wherein a prospective borrower submits via the platform a loan request to a database;

the loan request being stored in the database;

a prospective guarantor searches the database via the app or website and the search produces a search results;

the search results being the prospective borrower'"'"'s loan request;

the prospective guarantor then agreeing to guarantee all or a portion of a loan to the prospective borrower made by a lender;

the prospective guarantor making an investment by contributing funds to the intermediary;

the lender lends money to the prospective borrower.

8. The method of claim 7, wherein the search results include a viewable rating or status for the prospective borrower.

9. The method of claim 7, wherein the loan to the prospective borrower is guaranteed by more than one prospective guarantor.

10. The method of claim 7, further including cryptocurrency features.

11. The method of claim 7, including more than one lender.

12. A method for coordinating guarantor-guaranteed loans via an app or website whereby:

prospective borrowers submit loan requests to a database, and the loan requests present investment opportunities for prospective guarantors;

the prospective guarantors search the database for investment opportunities;

the prospective guarantors select investment opportunities and agree to serve as guarantors on loans made by a lender to the prospective borrowers whose loan requests created the selected investment opportunities;

the prospective guarantors make investments by transferring funds to the intermediary, and the prospective guarantors become guarantor/guarantors.

the lender lends money to the prospective borrowers, and the prospective borrowers become loan recipients.

13. The method of claim 12, wherein the loan requests include personal details and/or other information about prospective borrowers.

14. The method of claim 12, wherein the database includes cryptocurrency features.

15. The method of claim 12, wherein more than one database is employed.

16. The method of claim 12, including more than one lender.

17. The method of claim 12, wherein the prospective borrowers have the option of including a viewable rating or status in their loan requests.