Method, system, and computer program for on-demand short...

Details Method, system, and computer program for on-demand short... Method, system, and computer program for on-demand short...

G - Physics

06

Q

G06Q 40/00 (2006.01)

Patent

CA 2519498

A method, system, and computer program for on-demand short term loan processing is disclosed which utilizes computing equipment (10) to expedite loan approval and the transfer of funds. The method preferably includes the steps of (a) establishing a loan account for a customer (100); (b) providing the customer access to the loan account through an ATM card (102); (c) receiving a loan request from the customer through a communications network (104); (d) approving the loan request immediately by utilizing computing equipment (106); (e) depositing a loan amount immediately into the loan account utilizing the computing equipment such that the loan amount is immediately accessible by the customer through the ATM card (108); and (f) automatically withdrawing the loan amount and a loan fee from the loan account by utilizing the computing equipment when additional funds are deposited into the loan account (110).

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