Lending and collecting method and system
OwnerMiracle Sheppardinventor
Life of this patent
Estimating the term…
Abstract
Embodiments of the present invention disclose a method, a computer program product, and a system for incentivizing a cosigner to cosign for a loan and to ensure the borrower repays the loan. Embodiments of the present invention send a first incentive gift to a cosigner in response to determining a set of borrowers have paid the corresponding set of loans in full. Furthermore, sends a second incentive gift to the cosigner in response to determining the number of borrowers associated with the cosigner is greater than a threshold value. Furthermore, transfers funds to a borrower without a cosigner upon determining a number of fully paid loans associated with the borrower and the cosigner is greater than a loan threshold value.
Claims20
A computer-implemented method comprising:
- determining a set of borrowers have paid a corresponding set of loans in full;
- and
- in response to determining the set of borrowers have paid the corresponding set of loans in full, sending a first incentive gift to a cosigner associated with the set of loans.
A computer program product comprising:
- one or more computer readable storage media and program instructions stored on the one or more computer readable storage media, the program instructions comprising:
- program instructions to determine a set of borrowers have paid a corresponding set of loans in full;
- and
- in response to determining the set of borrowers have paid the corresponding set of loans in full, program instructions to send a first incentive gift to a cosigner associated with the set of loans.
A computer system comprising:
- one or more computer processors;
- one or more computer readable storage media;
- and
- one or more computer readable storage media and program instructions stored on the one or more computer readable storage media, the program instructions comprising:
- program instructions to determine a set of borrowers have paid a corresponding set of loans in full;
- and
- in response to determining the set of borrowers have paid the corresponding set of loans in full, program instructions to send a first incentive gift to a cosigner associated with the set of loans.
Dependencies are inferred from the claim text.