AppOne Partners with Tidewater Motor Credit.

Opens Dealer Network to Financing Options for Non-Traditional Consumers

BATON ROUGE, La. -- AppOne, a provider of Internet-based risk mitigation and financial technology to banks, auto finance companies, credit unions and independent auto dealers throughout the continental United States, announced an alliance with Virginia Beach, Va.-based Tidewater Motor Credit, a subprime lender that specializes in purchasing and servicing auto loans for non-traditional consumers.

The partnership allows Tidewater Motor Credit, which is licensed in 29 states, the capacity to obtain credit applications from more than 850 independent auto dealers within AppOne's nationwide dealer network. Connecting these dealers to Tidewater Motor Credit is the AppOne platform, a scalable and seamless solution to process loan applications.

Among the specialty products Tidewater Motor Credit offers is its Chapter 7 Program, which allows dealers to deliver vehicles to customers while Chapter 7 bankruptcy is still open.

"We are excited about our new connection with AppOne because it enables us to create strategic and profitable relationships with a wider variety of independent auto dealers," says Nathan Benson, CEO of Tidewater Motor Credit. "It also permits us to more effectively manage the risk associated with underwriting subprime loans."

AppOne's services are accessed through its Web-based loan origination platform for independent auto dealers. Elements of the AppOne portal include DealerOne, a dealer underwriting system; RECON, a dealer scoring system; and DMSOne, a software management system for independent auto dealers.

"This alliance enables our dealers to provide Tidewater Motor Credit's non-traditional customers with additional financing options," said Lee Domingue, CEO of AppOne. "This collaborative effort helps dealers sell more cars and service more consumers, which increases their own profitability and boosts their competitiveness."

About Tidewater Motor Credit

Tidewater Motor Credit (Virginia Beach, Va.) began providing nontraditional financing for automobiles in 1995. Since then, the company has increased its dealer base to more than 250 active dealers. Additional information can be found at www.twcs.com.

About AppOne

Based in Baton Rouge, La., AppOne is an Internet-based company offering a technology solution that connects independent auto dealers with lenders. The AppOne system relies on the company's proprietary scorecard system, which evaluates each independent dealer to determine the level of risk associated with doing business with that dealer. It also automates the funding process for dealers by printing all documents required to complete the booking of auto loans. AppOne provides lenders with a new channel of growth and field representation directly to independent auto dealers nationwide. It offers dealers faster financing options for their customers, support services and additional aftermarket fee-based products. For more information on AppOne, visit www.appone.net