Marine and recreation vehicle (RV) dealers who use the AppOne Lender Network from Wolters Kluwer will now see U.S. Bank among the participating banks that has integrated AppOne into its loan process. AppOne aims to simplify the delivery and processing of loan applications and make it easier for marine and RV dealer partners to submit applications from prospective buyers.
The AppOne Lender Network consists of lenders serving more than 4,000 automotive, powersports, marine and RV dealers in the United States. U.S. Bank is able to customize and receive consumer loan contracts from its dealers through the AppOne indirect loan origination platform.
“U.S. Bank has provided recreation financing for many years. Today we see many of our dealer clients are using AppOne for their customers,” said Ernie Schumacher, national sales executive for recreation finance at U.S. Bank. “Participating in the network makes it easier and more efficient for our dealer clients to offer U.S. Bank financing as a choice to their customers. Using the AppOne platform streamlines our indirect lending process as well, as our business continues to grow.”
AppOne is a web-based platform designed to help dealers and lenders manage the origination process of retail installment contracts from application to funding. It provides dealers and lenders access to a library of compliant and warranted loan documents, which gives lenders the ability to customize loan packages that meet each lender’s specific origination and workflow requirements. All the loan documents in AppOne are maintained by Wolters Kluwer and meet the federal and state compliance requirements of all 51 U.S. jurisdictions.
“It’s great to have U.S. Bank join the AppOne Lender Network at a time when the recreation market is experiencing strong growth,” said Brad Fleener, senior director and general manager of Indirect Lending at Wolters Kluwer. “To meet the growing consumer demand for watercraft and recreational vehicles, dealers need access to a variety of credit sources. The addition of U.S. Bank on AppOne gives dealers on the platform access to the nation’s fifth largest commercial bank and the ability to secure loan approvals in minutes, instead of hours.”