Mr. Money Gets Patent for Payday Loan Scoring

Published June 06, 2007, 9:48 p.m. EDT

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Updated August 27, 2020, 1:50 a.m. EDT

1 Min Read

FORT COLLINS, Colo. – Mister Money, a provider of technology for the pawnshop and subprime loan industries, said yesterday it has received a patent on its automated process for verification, scoring and approval of cash advance and payday loans. The process has been automated in a self-service kiosk for loan processing. The process cuts costs for providing payday loans by as much as $10 each. The payday loans are being offered through the company’s wholly owned Alternative Financial Solutions subsidiary.

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