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TranDotCom Line of Credit Module Offers Lenders Competitive Advantage

In The Know/Tranews

September 2009

TRANDOTCOM LINE OF CREDIT MODULE OFFERS LENDERS COMPETITIVE ADVANTAGE

New Product's Convenience, Affordability and Value Can Appeal to Wider Audience

For lenders who seek to differentiate themselves with an innovative lending product, TranDotCom has introduced the Line of Credit Module. A Line of Credit offers consumers the potential of larger loan amounts and longer terms for repayment vs. a traditional short-tem loan product. At the same time, the product provides lenders with a small-dollar offering that can compete more effectively in a demographically broader market.

For consumers, a Line of Credit equates greater convenience, affordability and value than other short-term options. The product also has the potential to draw customers who would not have previously considered a short-tem, small-dollar loan. These competitive benefits allow lenders to form longer term relationships with their customers. By establishing stronger consumer relationships, lenders have the opportunity to significantly reduce overall operating costs which may allow for a significant cost savings passed directly to the consumer and increased profitability.

"We are very excited about the opportunities our Line of Credit Systems and Services offering presents our clients and the industry," said Joseph Fitzpatrick, CEO and Founder of TranDotCom. "We believe this product represents a new direction for the industry and will enable lenders to reach broader markets with enormous potential."

The Line of Credit Module is adaptable to individual state rules and regulations, also affording lenders flexibility in the face of policy changes governing short-tem lending. Its versatility allows for support of a wide range of APR's, initial grace periods, cycle date calculations, and various lender defined fees. The Line of Credit was developed as an add-on module to the TranDotCom short-term lending system, which capitalizes on the proven value of the company's underwriting process as well as its complete set of industry interfaces and relationships.

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