The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Jul. 06, 2021
Filed:
Nov. 21, 2018
Siddharth Ram, Menlo Park, CA (US);
Richard N. Preece, San Diego, CA (US);
Joseph Timothy Callinan, Jr., Campbell, CA (US);
Kathy Tsitovich, Mountain View, CA (US);
Eva Diane Chang, Mountain View, CA (US);
Siddharth Ram, Menlo Park, CA (US);
Richard N. Preece, San Diego, CA (US);
Joseph Timothy Callinan, Jr., Campbell, CA (US);
Kathy Tsitovich, Mountain View, CA (US);
Eva Diane Chang, Mountain View, CA (US);
Intuit Inc., Mountain View, CA (US);
Abstract
The method and system involves instant loan decisions by generating a risk profile of a small business (SMB). The risk profile is generated based on accounting data and other third party business management application (BMA) data of the SMB. In particular, the accounting data and other third party BMA data are retrieved from a BMA (e.g., accounting application, payroll application, tax preparation application, personnel application, etc.) as a software-as-an-service (SaaS) used by the SMB. Specifically, the risk profile represents the likelihood of the SMB to be delinquent and/or to default on a loan. The risk profile is then provided to a lender for making an expedient lending decision with respect to the SMB. In addition, statistics of lenders' lending decisions based on provided risk profiles are analyzed to generate a correlation. Accordingly, the algorithm(s) used to generate the risk profile from the accounting data and other third party BMA data are adjusted to maximize the correlation.