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System and method of expedited credit and loan processing

DC
  • US 8,909,551 B2
  • Filed: 03/15/2013
  • Issued: 12/09/2014
  • Est. Priority Date: 09/22/2011
  • Status: Active Grant
First Claim
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1. A method of expedited direct or indirect application approval and processing related to purchase of goods, services or programs, the method comprising the steps of:

  • (a) providing at least one processing software program resident on a credit sale and loan processor computer having a server and a data storage device, the processing software program having or accessing at least one seller-selected consideration criterion wherein the seller has possession of at least one collateralizable article;

    (b) populating predetermined identification information fields resident in the software with application-relevant information associated with a prospective individual purchaser of the collateralizable article under the control of a seller using an input device and transmitting the application relevant information to the credit sale and loan processor computer, wherein the application-relevant information also includes data regarding the collateralizable article;

    (c) verifying the application-relevant information by the credit sale and loan processing software and generating at least one verification result command, the verification result command being one of either a computer-generated verification signal or a computer generated nonverification signal;

    (d) upon receipt of a computer-generated verification indication, analyzing the application-relevant information against qualification parameters resident in the at least one software program and generating at least one output solution, wherein the output solution is one associated with a concluded credit sale transaction that is assignable by the seller to a financial institution.

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