Patent ID: 7835984

Claim:
A computer based intercompany loan system for managing multiple intercompany loans between various lender companies and various borrower companies comprising: a memory device comprising computer readable program code stored thereon; and a processing device operatively coupled to the memory device and configured to execute the computer readable program code for: receiving and storing initial loan terms for a loan including a loan type, an interest rate, an elimination point, and whether the loan is capitalized, wherein the initial loan terms are agreed to by a borrower company and a lender company; processing a payment advance and creating a general ledger entry for the borrower company and the lender company to reflect the payment advance by accessing individual systems of the borrower company and the lender company; processing an interest payment and creating a general ledger entry for the borrower company and the lender company to reflect the interest payment by accessing the individual systems of the borrower company and the lender company; processing a principal payment and creating a general ledger entry for the borrower company and the lender company to reflect the principal payment by accessing the individual systems of the borrower company and the lender company; calculating a loan payoff amount; and receiving, processing, and storing an interest rate adjustment wherein accrued and current interest for the loan are automatically re-calculated when an adjustment to the interest rate is received and processed.