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US 2002/0055904 A1Published application
Apparatus and method for processing loans
OwnerGary Le Moninventor
Life of this patent
Estimating the term…
Abstract
An apparatus and method for processing loans includes receiving a loan application from a remote location, including a payday loan machine, processing the loan and depositing funds to the debtor's account or dispensing the loans directly to the client.
Claims23
A method for processing loans comprising:
- (a) receiving a loan application at a post-dated check lender from a debtor at a remote location;
- (b) processing the loan application;
- (c) dispensing the loan proceeds to the debtor in response to the loan.
A method of making funds available for immediate access from a lending institution to a loan applicant, comprising;
- providing a loan application to a debtor at a payday loan machine;
- receiving a transmission containing a completed loan application;
- processing the completed loan application for approval of a loan;
- and
- delivering funds upon approval of the loan application to the debtor at the payday loan machine.
2 more elements
An apparatus for applying for loans and dispensing loan proceeds, the apparatus comprising:
- means for transmitting information regarding a debtor to a central location;
- means for supplying a loan contract to the debtor and for conveying execution of the contract to the central location;
- and
- means for dispensing funds to the debtor.
1 more element
Dependencies are inferred from the claim text.