IRVING, Texas, Oct. 6, 2010 – Exeter Finance Corp., a specialty auto finance company, announced that it has opened branches in the Philadelphia and Atlanta markets, expanding the company’s branch network and continuing its focus on local service and relationships. Additionally, Exeter announced it has completed integration with RouteOne, a web-based credit application management system that aggregates finance sources for dealers.
Exeter’s underwriting and verification teams work in local branches, rather than a centralized facility, enabling personal service and continuous access to decision-makers. Exeter also operates branches in Irving, Texas; Independence, Ohio; Paramus, N.J.; Schaumburg, Ill.; St. Louis, Mo.; and Manchester, N.H.
The integration with RouteOne means Exeter dealers may now send their credit applications electronically through the RouteOne platform, as well as access credit bureaus, verify contract statuses and manage the entire scope of their credit application process.
“As we continue to expand our network, joining the RouteOne platform will enable a greater level of ease, access and convenience for our dealers during transactions,” said Mark Floyd, Exeter CEO.
“We are pleased to be reaching more dealers and providing our brand of exceptional local underwriting, funding and relationships in the Philadelphia and Atlanta markets.”
Earlier this year, Exeter closed on a $100 million warehouse credit facility with Wells Fargo Bank, N.A., which significantly increased the size of the company’s previous line of credit. The credit facility provides substantial capital for the growth of Exeter's loan portfolio and the expansion of its branch network.
Exeter reached $100 million in total originations in May.
About Exeter Finance
Exeter Finance Corp. is a specialty auto finance company that provides financing services to select franchised auto dealers throughout the United States. The company’s underwriting and verification teams work in local branches, rather than a centralized facility. As a result, dealers enjoy personalized service from people they know and trust. Founded in 2006, the company is headquartered in Irving, Texas. For more information, visit www.ExeterFinance.com or call (214) 572-8276.
RouteOne was formed in 2002 by Chrysler Financial, Ford Motor Credit Company, GMAC, andToyota Financial Services to create a more streamlined credit application for automobile dealers and their customers. Providing access to more than 21,500 dealers in North America, RouteOne’s web-based system allows automotive dealers to submit credit applications to the largest indirect lenders, request credit reports, and increase profitability with RouteOne’s free Dealer Reporting Suite. RouteOne’s open integration business model also allows the dealer to integrate with their choice of a wide variety of best in class providers, including DSPs, CRM systems, F&I modules and menu providers. RouteOne offers dealers a common platform for all their credit application financing needs. More information is available at www.routeone.com.