Patent ID: 8204788
Filing Date: 2012-06-19
Classification: G06Q

Abstract:
1. A system for funding an online purchase, the system comprising: at least one subsystem configured to receive, at a lending institution, an application for a monetary loan from a user online, the user being a member of the lending institution; at least one subsystem configured to approve the monetary loan online and to generate an approval code associated with the monetary loan when the monetary loan is approved; at least one subsystem configured to provide, based on the user being a member of the lending institution provide, the user with a plurality of products and dealers for the products online from which the user may choose; at least one subsystem configured to receive purchasing documents from a dealer selected by the user for a product selected by the user; at least one subsystem configured to receive the approval code from the dealer and, based on receiving the approval code, to grant the dealer access to a dealer portal, wherein the dealer portal is configured to display customer information about the monetary loan associated with approval code and to receive information entered by the dealer via the dealer portal about the product selected by the user; at least one subsystem configured to automatically process information contained on the purchasing documents and the information entered by the dealer; and at least one subsystem configured to, in response to the approval code being received from the dealer when the processing is complete, send to the dealer a monetary amount equal to a purchase price of the product selected by the user.