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. 26, 2017
Filed:
Mar. 19, 2015
Square, Inc., San Franscisco, CA (US);
Brian Boates, San Franscisco, CA (US);
Adam Jeremy Fern, San Francisco, CA (US);
John Bryan Scott, San Francisco, CA (US);
Andrew Kimball, Moraga, CA (US);
Donald Clark, San Franscisco, CA (US);
SQUARE, INC., San Francisco, CA (US);
Abstract
A system and method for calculating crowdfunding terms based on a financial history of a merchant is described. The crowdfunding terms include an approved funding amount and repayment terms including a portion of transactions processed for the merchant by the payment processing system to withhold for repayment of the approved funding amount plus earnings to investors. The a payment processing system may withhold the portion of the transactions processed for the merchant by the payment processing system for repayment of the approved funding amount plus earnings to the investors, apportion the portion of the transactions processed for the merchant by the payment processing system amongst the investors, and transmit, by the payment processor system, the apportioned amount to each investor.