Mongoose Capital Joins Finance Express Auto Finance Program

RANCHO SANTA MARGARITA, Calif., Sept. 14 -- Finance Express, which operates the first online auto finance platform specifically designed for the independent dealer, today announced that it has signed an agreement with Mongoose Capital, Inc., a Buy Here, Pay Here secured lender based in San Francisco. Mongoose Capital, Inc. will finance independent car dealers across the nation through Finance Express' online auto finance program.

Mongoose Capital offers a unique finance product to Finance Express' dealer base. "We don't mandate that dealers pay off the balance of the loan on a fixed schedule," says Nicholas Levenstein, President of Mongoose Capital. "This allows dealers to reinvest capital into their dealerships as needed, and achieve superior returns." Levenstein adds, "If dealers finance with us, they always have the option of selling their notes on a non-recourse basis, and paying off the loan. That said, dealers are frequently able to make more money financing with Mongoose than they would by selling their notes on a non- recourse basis."

About Finance Express

Finance Express provides financing programs, electronically, for all levels of credit through its relationship with national and regional lenders. Its Internet-based software offers an integrated menu of services including credit application processing, credit bureau access, inventory management, electronic contracting, dealer management tools and licensed escrow services. It is a comprehensive program that provides auto dealers with online access to lenders, credit bureaus and a full range of dealer management services in a single seamless solution. At the same time, through its fully licensed escrow company, it provides auto lenders with a method of completing their transactions safely and securely.

About Mongoose Capital

Located in San Francisco's financial district, Mongoose Capital, Inc. is a secured lender that finances excellent businesses in undercapitalized credit markets. Mongoose has a track record of working closely with its auto dealer clients to help them succeed by offering insights into their businesses, weekly feedback on the overall financial health of the dealership, as well as customer service and collections. One dealership was unable to find desirable financing by traditional means and joined Mongoose's program in 2004. It turned its losses into a $1 million annual profit within calendar year 2005.

David Huber, President of Finance Express, said, "We're pleased to have Mongoose Capital, Inc. participating with us on the Finance Express system. By utilizing the full range of Mongoose's services including collections and issuance of codes for starter interrupt devices, dealers improve the performance and reliability of their dealership. Mongoose Capital is a leader in Buy Here, Pay Here and we believe that they will bring a significant advantage to all of our dealers and the customers they serve."

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