US 11,688,004 B1
Systems and methods for providing closed-end loans
David Zalik, Atlanta, GA (US); Jeffrey Gold, Atlanta, GA (US); Robert Lanier, Atlanta, GA (US); Jacob F. Crowe, Lilburn, GA (US); and Robert W. Lee, Ft. Mitchell, KY (US)
Assigned to Greensky, LLC, Atlanta, GA (US)
Filed by Greensky, LLC, Atlanta, GA (US)
Filed on Feb. 19, 2021, as Appl. No. 17/179,597.
Application 17/179,597 is a continuation of application No. 17/100,475, filed on Nov. 20, 2020.
Application 17/100,475 is a continuation of application No. 16/940,297, filed on Jul. 27, 2020, granted, now 10,846,793, issued on Nov. 24, 2020.
Application 16/940,297 is a continuation of application No. 14/745,861, filed on Jun. 22, 2015, granted, now 10,726,477, issued on Jul. 28, 2020.
Claims priority of provisional application 62/023,688, filed on Jul. 11, 2014.
This patent is subject to a terminal disclaimer.
Int. Cl. G06Q 40/00 (2023.01); G06Q 40/03 (2023.01)
CPC G06Q 40/03 (2023.01) 15 Claims
OG exemplary drawing
 
1. A method comprising:
receiving, at a computing device and from a merchant computing device associated with a merchant and via a network, location information, the location information based at least in part on global positioning system (GPS) coordinates indicative of a location of the merchant computing device;
determining, by the computing device, one or more street addresses based at least in part on the location information, the one or more street addresses being in proximity to the GPS coordinates;
transmitting, from the computing device and to the merchant computing device via the network, the one or more street addresses based at least in part on the location information;
receiving, at the computing device and from the merchant computing device via the network, an indication of selection of a particular street address of the one or more street addresses;
receiving merchant information (i) associated with the merchant and (ii) related to a volume of loans given by the merchant;
performing a merchant credentialing process to evaluate the credit worthiness of the merchant, the merchant credentialing process including determining a merchant fraud risk based at least in part on the volume of loans;
performing, by the computing device, a likely occupant evaluation by determining a likely occupant of the particular street address of the one or more street addresses;
performing, by the computing device, a prescreening process of the likely occupant of the particular street address of the one or more street addresses, the prescreening process based on the likely occupant evaluation and the selection of the particular street address;
responsive to an indication that the likely occupant passed the prescreening process, transmitting, from the computing device and to the merchant computing device via the network, information relating to a preapproved credit offer associated with the likely occupant of the particular street address of the one or more street addresses, the information further comprising merchant fraud risk;
transmitting, from the computing device and to a computing device associated with the likely occupant of the particular street address via the network, a credit offer, the credit offer including terms relating to the loan;
responsive to receiving, at the computing device via the network, an indication of the likely occupant of the particular street address's acceptance of the loan, dynamically generating, via the computing device, electronic loan documents associated with the loan between the likely occupant of the particular street address and a particular lender, the electronic loan documents comprising a transaction processing access device configured to allow the likely occupant of the particular street address to purchase goods or services directly from the merchant; and
transmitting, from the computing device via the network, the electronic loan documents for presentation to the likely occupant of the particular street address at the computing device associated with the likely occupant of the particular street address or the computing device associated with the merchant.