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:
Sep. 24, 2024
Filed:
Jun. 16, 2022
Applicant:
American Express Kabbage Inc., Atlanta, GA (US);
Inventors:
Robert Frohwein, Atlanta, GA (US);
Kristel Adler, Atlanta, GA (US);
Assignee:
AMERICAN EXPRESS KABBAGE INC., Atlanta, GA (US);
Attorney:
Primary Examiner:
Int. Cl.
CPC ...
G06Q 40/03 (2023.01); G06Q 20/10 (2012.01);
U.S. Cl.
CPC ...
G06Q 40/03 (2023.01); G06Q 20/10 (2013.01);
Abstract
A method, system, and computer readable storage to enable a user to apply for a loan with a dynamic repayment structure. Instead of periodic payments being fixed, the payments can be variable based on a collection rate. The collection rate is determined from historical financial data for the user. For example, the collection rate can be a fixed percentage of all profit for each month. In this manner, the user's monthly payments are more commensurate with their monthly cash flow thereby reducing the default rate.