System of guaranteeing loan repayments at the product level by a split funding method from credit card and online check settled deposits

摘要

A system of guaranteeing loan repayments by a split funding method from credit card and online check settled deposits. By split funding transaction deposits, the system provides and tracks a line of credit to the sales representatives. The inventive process: (1) evaluates the sales representative's credit worthiness; (2) approves a line of credit for the sales representative to use in purchasing inventory; (3) ties the liability for the line of credit to the product being sold; (4) accounts for the increases and decreases in the available line of credit as sales representatives purchase items, then repay the line of credit as they sell merchandise; (5) automatically distributes funds to all parties concerned using a prescribed hierarchy when the sales representative sells merchandise; (6) accounts for settling all aspects of customer transactions including commissions, interest, principal repayment, and processing fees; and (7) deposits commissions or net sales proceeds onto the stored value card.