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Curomax, TD Bank Financing Canadian Car Dealers Online

[Toronto, CANADA] Curomax Corporation has made an agreement to provide Internet based application services for automotive lending to dealerships across Canada through its multi-lender automotive finance portal.

TD Bank Financial Group is the first Canadian bank to provide its dealers across Canada with loan financing through an automotive finance portal.

Under the agreement, Curomax, through its new automotive portal, 360 Funding, will support TD's automotive dealership networks of more than 2,000 dealers across Canada with a real-time Internet portal for credit approving.

"The Internet has changed the nature of the automotive finance business, and automotive dealers and financial institutions are looking for Web solutions that will allow them to compete in this new environment," said Alan Bird, Curomax president and chief executive officer.

"Automotive dealers are recognizing the power of Internet and are providing their customers with a host of products and services online," said Len Logozar, vice president of Personal Lending Sales at TD Canada Trust.

"We believe this new service will give our customers -- the dealers -- the opportunity to enhance the customer experience by providing their customers with more flexible financing options and quick turnaround time via the Internet."

In Canada and abroad, TD Bank Financial Group serves more than 13 million customers in five areas: personal banking, commercial banking, discount brokerage, investment management and investment banking. It ranks among the top online financial services firms globally.

Curomax and its 360 Funding Automotive Finance Portal will allow more than 2,000 dealerships across Canada the ability to access multiple financial institutions and other aftermarket suppliers through a single application over the Internet.