Method and system for providing flexible financing
First Claim
1. A computer implemented method for providing customer initiated flexible financing for one or more purchases, wherein the method is executed by a programmed computer processor, the method comprising the steps of:
- issuing a card product to a customer for financing a plurality of products and services, including at least one revenue producing property;
analyzing one or more financing options available to the customer prior to a purchase of the at least one revenue producing property using the programmed computer processor;
authorizing a future purchase of the at least one revenue producing property to enable the customer to purchase the at least one revenue producing property with the card product, wherein the card product provides the ability to make a combination of an online purchase, phone order purchase and merchant location purchase;
receiving a customer contact after the purchase is made for designating one or more of the one or more financing options available to the customer for financing of the at least one revenue producing property, wherein the one or more financing options comprise one or more of installment loan, asset-backed loan, line of credit, product lease and equipment lease;
transferring a balance attributed to the card product to one or more designated financing options; and
transforming the purchase into a secured loan secured by the at least one revenue producing property or an unsecured loan.
1 Assignment
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Accused Products
Abstract
Methods and systems for providing flexible financing are disclosed. In one embodiment, the present invention relates to a business card product with a customer activated credit line extension for accommodating large ticket purchases where the credit line extension may be linked to other business loan/lease products so that balances may be transferred to a customer'"'"'s preferred financing product (or products). The purchases may be considered secured or unsecured loans/leases that may be capitalized as well as appreciate and depreciate in value. The purchases may include various types of revenue producing property, such as computer, office equipment, office furniture, copiers, farm equipment, and other types of revenue producing property.
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Citations
16 Claims
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1. A computer implemented method for providing customer initiated flexible financing for one or more purchases, wherein the method is executed by a programmed computer processor, the method comprising the steps of:
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issuing a card product to a customer for financing a plurality of products and services, including at least one revenue producing property; analyzing one or more financing options available to the customer prior to a purchase of the at least one revenue producing property using the programmed computer processor; authorizing a future purchase of the at least one revenue producing property to enable the customer to purchase the at least one revenue producing property with the card product, wherein the card product provides the ability to make a combination of an online purchase, phone order purchase and merchant location purchase; receiving a customer contact after the purchase is made for designating one or more of the one or more financing options available to the customer for financing of the at least one revenue producing property, wherein the one or more financing options comprise one or more of installment loan, asset-backed loan, line of credit, product lease and equipment lease; transferring a balance attributed to the card product to one or more designated financing options; and transforming the purchase into a secured loan secured by the at least one revenue producing property or an unsecured loan. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8)
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9. A system for providing customer, initiated flexible financing for one or more purchases, the system comprising:
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a programmed computer processor; a card issuing module configured to issue a card product to a customer for financing a plurality of products and services, including at least one revenue producing property; a financing module configured to analyze one or more financing options available to the customer prior to a purchase of the at least one revenue producing property; an authorizing module configured to authorize a future purchase of the at least one revenue producing property to enable the customer to purchase the at least one revenue producing property with the card product, wherein the card product provides the ability to make a combination of an online purchase, phone order purchase and merchant location purchase; and a designating module configured to receive a customer contact after the purchase is made for designating one or more of the one or more financing options available to the customer for financing options comprise one or more of installment loan, asset-backed loan, line of credit, product lease and equipment lease; for transferring a balance attributed to the card product to one or more designated financing options; and for transforming the purchase into a secured loan secured by the at least one revenue producing property or an unsecured loan. - View Dependent Claims (10, 11, 12, 13, 14, 15, 16)
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Specification