Patent ID: 8447672
Filing Date: 2013-05-21
Classification: G06Q,G07F

Abstract:
1. A computer-implemented method for providing an unrestricted line of credit to an entity from a credit provider, the method comprising: receiving, through a computer, an application from an entity for an unrestricted line of credit which is not limited to payment obligations associated with the credit provider; performing, through the computer, a risk-assessment of the application to determine credit risk of the entity, and upon a determination that the credit risk is acceptable, accepting the application; receiving, through the computer, a selection of trigger event and benefit pairs, each comprising a trigger event and a line of credit associated with each trigger event; calculating, through the computer, a value for each trigger event and benefit pair; calculating, through the computer, a payment protection price for each trigger event and benefit pair; issuing the payment protection price for each selected trigger event and benefit pair for payment by the entity; receiving notification that a trigger event has occurred; verifying the occurrence of the trigger event; and upon verification of the trigger event; providing, through the computer, the line of credit to the entity associated with the trigger event.