US 2008/0177655 A1 · SYSTEMS AND METHODS OF UNDERWRITING BUSINESS CREDIT

Abstract

Various embodiments of the present invention provide systems and methods for underwriting an unsecured line of credit for a buyer using a buyer's trade credit score, and the unsecured line of credit can be used by the buyer to purchase goods and services from a plurality of sellers. In addition, various embodiments provide systems and methods of automatically approving higher credit limits for unsecured lines of credit as compared to known credit cards by considering the trade credit scores and the merits of the buyer's business. Furthermore, various embodiments provide negotiating flexibility for credit terms depending on the extent to which one or more sellers are willing to take on a portion of the risks associated with the line of credit or fund at least a portion of the costs of one or more credit terms associated with the line of credit.

Claims45

Dependent claims

A method of underwriting an unsecured line of credit for a buyer, said method comprising the steps of:

receiving an application for an unsecured line of credit for a buyer, said credit line usable for making purchases from a plurality of sellers;
retrieving a trade credit score associated with said buyer;
in response to retrieving said trade credit score of said buyer, comparing said trade credit score with a pre-established acceptable range of trade credit scores;
in response to said trade credit score of said buyer being within said pre-established acceptable range, approving said application;
and
in response to approving said application, transmitting said approval to said buyer.

3 more elements

Dependencies are inferred from the claim text.

Systems and methods of underwriting business credit

Life of this patent

Systems and methods of underwriting business credit

Life of this patent

Abstract

Claims45