Abstract: A method for disbursing loan proceeds, which has the following steps: (a) a borrower residing in a different jurisdiction from the location of a licensed lender contacting said lender about obtaining a loan; (b) said licensed lender forwarding the application to said borrower; (c) said borrower transmitting the executed loan application and requested documentation to said licensed lender; (d) said licensed lender accepting and processing the loan application; (e) said licensed lender approving the loan application; (f) said licensed lender pursuant to authorization of borrower automatically opening an account for said borrower at a banking institution located in the same state jurisdiction as such licensed lender and its banking institution; (g) said licensed lender disbursing the loan proceeds from its funding account at its banking institution to said borrower's newly created bank account; (h) such loan proceeds then being automatically wired from said borrower's new bank account at said banking institution