NetworkNewsBreaks – PowerBand Solutions Inc. (TS
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Posted On: 10/22/2020 4:07:17 PM
NetworkNewsBreaks – PowerBand Solutions Inc. (TSX.V: PBX) (OTCQB: PWWBF) (Frankfurt: 1ZVA) Secures Additional Financing Facilities for DRIVRZ
PowerBand Solutions (TSX.V: PBX) (OTCQB: PWWBF) (Frankfurt: 1ZVA), a fintech provider disrupting the automotive industry, and its U.S. leasing division, MUSA Auto Finance LLC, have secured a second agreement with a California-based credit union for U.S. consumers and automotive dealers using the PowerBand virtual transaction platform. According to the update, the financing agreement is similar to and augments the US$300 million in financing MUSA already secured on July 13th, 2020, with another U.S. national depository institution. The financing facilities are part of PowerBand’s ongoing strategy to acquire multibillion consumer and dealer financing lines to support lease originations from its virtual transaction platform – DRIVRZ. “We will have 4.5 million vehicles on our virtual platform, making it one of the largest and most diverse inventories in the automotive industry,” PowerBand CEO Kelly Jennings said in the news release. “If you are a driver or auto dealer, you will be able to search and finance the car or truck of your choice as easily as buying something on Amazon.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
PowerBand Solutions (TSX.V: PBX) (OTCQB: PWWBF) (Frankfurt: 1ZVA), a fintech provider disrupting the automotive industry, and its U.S. leasing division, MUSA Auto Finance LLC, have secured a second agreement with a California-based credit union for U.S. consumers and automotive dealers using the PowerBand virtual transaction platform. According to the update, the financing agreement is similar to and augments the US$300 million in financing MUSA already secured on July 13th, 2020, with another U.S. national depository institution. The financing facilities are part of PowerBand’s ongoing strategy to acquire multibillion consumer and dealer financing lines to support lease originations from its virtual transaction platform – DRIVRZ. “We will have 4.5 million vehicles on our virtual platform, making it one of the largest and most diverse inventories in the automotive industry,” PowerBand CEO Kelly Jennings said in the news release. “If you are a driver or auto dealer, you will be able to search and finance the car or truck of your choice as easily as buying something on Amazon.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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