Patent ID: 8620797

Claim:
A method comprising: receiving, by a computer processor, from a customer, an application to finance a secured loan for a purchase of an item type; approving the secured loan using information contained in the application; generating by the computer processor, for the customer, a financial document including a plurality of legal terms printed on the financial document; receiving the financial document from a merchant financial institution associated with a merchant by the computer processor, the merchant selling an item of the item type to the customer; determining by the computer processor whether the financial document is an immediately negotiable instrument for purchase of the item in a single step that includes a contract between a customer lending institution and the customer for the purchase of the item based on the plurality of legal terms, the immediately negotiable instrument requiring no further interaction between the customer and the customer lending institution to fund the purchase of the item after the generating of the financial document; and providing funding from the customer lending institution to the merchant financial institution by the computer processor in response to a determination that the financial document is the immediately negotiable instrument.