Method to Provide Liquid Funds in the Online Auction and Marketplace Environment

Abstract

A method, apparatus, and computer readable storage to implement a lending system for use with electronic commerce web sites such as auction sites. A seller may receive a cash loan for items placed for sale but not yet purchased by a buyer. The seller can be required to pay back the loan after a predetermined amount of time or as soon as the item for sale is sold and payment is received from the buyer. The lender would charge interest or commission for the loan. In this manner, sellers can receive cash for items listed on auction sites before those items are actually sold, generating additional cash flow for the seller.

1 . (canceled) 
     
     
         2 . An apparatus to provide funds to a seller who lists an item for sale on an e-commerce web site hosted by a web server, the e-commerce web site comprising web pages that allows sellers to list goods for sale and allows buyers to bid on or purchase the goods for sale, the apparatus comprising:
 a server comprising an electronic processor or processors configured to:   receive, on a computer communications network, a request for cash from the seller;   retrieve, on the computer communications network, a credit profile associated with the seller from a database, the database storing credit profiles of parties comprising respective credit information;   make an automatic determination of whether to approve the request based on at least both the credit profile and on characteristics of the seller's sales history on the e-commerce web site, wherein the determination is an approval;   transmit the approval to the seller; and   initiate, on the computer communications network, a distribution of a cash amount to the seller using a financial processing application,   wherein the seller is not prohibited from using the cash amount to improve the seller's cash flow.   
     
     
         3 . The apparatus as recited in  claim 2 , wherein the processor or processors are further configured such that the determination of whether to approve also takes into consideration characteristics of at least the item. 
     
     
         4 . The apparatus as recited in  claim 2 , wherein the cash amount is secured by at least the item. 
     
     
         5 . The apparatus as recited in  claim 2 , wherein the processor or processors are further configured such that upon sale of the item via the e-commerce web site, payment for the item is paid directly to an account associated with a party that provided the cash amount to the seller. 
     
     
         6 . The apparatus as recited in  claim 2 , wherein the processor or processors are further configured to cause an alert to appear on the seller's computer indicating the approval. 
     
     
         7 . The apparatus as recited in  claim 6 , wherein the processor or processors are further configured such that the alert is a pop-up window. 
     
     
         8 . The apparatus as recited in  claim 2 , wherein the processor or processors are further configured such that the determination of whether to approve is based in part on the seller's sales volume on the e-commerce web site. 
     
     
         9 . The apparatus as recited in  claim 2 , wherein the processor or processors are further configured such that the determination of whether to approve is based in part on the seller's feedback rating on the e-commerce web site. 
     
     
         10 . The apparatus as recited in  claim 2 , wherein the processor or processors are further configured such that a pool of money is maintained to fund distributions which comprises the cash amount, the pool being funded in part by investing sellers using the e-commerce web site who transfer at least some of their funds to the pool. 
     
     
         11 . The apparatus as recited in  claim 2 , wherein the processor or processors are further configured such that after the transmit and before the initiate, the processor or processors receive, on the computer communications network, an acceptance from the seller.