Use cases

Non-Revolving Lines of Credit

Twins, Amy and Dan Hansen, were finally off to college. After calculating the cost of college and consulting with their MPL, Mr. and Mrs. Hansen decided to apply for a Non-Revolving Line of Credit.

The credit line was approved and processed through Arix, and the funds were deposited into their account as a lump sum.

Debt consolidation

During a crisis, Janet accrued 1000's of dollars of credit card debt. To organize her debts, she contacted an MPL for a loan, in the hopes of consolidating her debts.

When she was approved, Janet opted to have Arix pay the creditors directly rather than have the funds deposited directly into her bank account.

Point-of-Sale (POS) loans

Sue and Jo were purchasing new mattresses, and, at checkout, were offered the option of Point-of-Sale (POS) financing. The clerk explained that instead of paying with cash or credit at checkout, they could apply for a loan right there. If approved, the purchase cost is passed into a loan, which they can pay out in installments. The MPL sets up monthly payment installments for their customers.

POS can be used for in-store or online purchases if the merchant is registered with the MPL and Arix. If approved in-store during checkout, an app on their phone shows a QR code which is passed to the clerk to complete the purchase. Arix sends payment to the vendor.

Home improvement loans

The Jacksons want to enlarge their kitchen but don't have enough money to pay it out fully. They're both employed however, and can pay monthly payments. They approach an MPL to apply for a loan.

The MPL creates a loan request in Arix on behalf of the Jacksons. They're approved and they have the MPL transfer the down payment directly to the contractor.

Each time the contractor asks for another incremental payment, the MPL sends a funding request to Arix, and Arix sends the funds directly to the contractor. Every payment is funded until the full amount has been paid out.

SBA (Small Business Administration) loans

The Small Business Administration (SBA) offers emergency relief loans to small businesses, with CRB acting as the originator. The small business submits their loan paperwork to the MPL or CRB directly.

When a successful response is received from the SBA, Arix processes the application and funds the loan.

Employee benefit loans

The XYZ textile factory offers their employees the option of taking small payroll loans. Several employees approached the payroll department and asked for an advance on their salary (a loan) because the holiday season was approaching.

After agreeing to the loan, the payroll department, via an MPL, used Arix to fund the loan directly to their employee's bank accounts.

Healthcare loans

Before undergoing a routine surgery, Alan decided to apply for a loan because he didn't want the extra pressure of paying out a large sum of money at one time.

Once approved for the loan via the MPL, the funds are transferred directly via Arix, to the medical service provider.

Loans for solar energy

Homeowners Jack and Susan, were reviewing their electricity bills and noted that the bills kept increasing year after year. They decided to explore solar energy in an attempt to lower their energy bills, and as an added bonus, reduce their carbon footprint.

After being approved for the loan, Arix funded the vendor directly for each incremental payment until the full amount was paid out.