PWWBF - PowerBand Solutions Inc. (TSX.V: PBX) (OTCQB: PWWBF) (FRA: 1ZVA) Subsidiary's $300-Million Auto Leasing Deal Builds Strength of Innovative Online Platform
- PowerBand Solutions subsidiary MUSA Auto Finance, LLC, has secured an agreement with a national depository financial institution that provides the online auto leasing platform with $300 million for transactions
- PowerBand Solutions is building an innovative smart tech platform that streamlines the transfer of money and paperwork associated with financing and inventory, vehicle inspections and auction negotiations
- The remote-access tech solution provides a timely response to the COVID-19 pandemic, which has been responsible for governmental policies worldwide restricting in-person group gatherings
- Despite the reach of the pandemic, Americans’ desire for getting out on the country’s roads during the summer remains high, with some 700 million trips forecast during the season, 97 percent of which would be by automobile
Disruptive fintech innovator PowerBand Solutions (TSX.V: PBX) (OTCQB: PWWBF) (FRA: 1ZVA) announced July 13 that its U.S. leasing division, MUSA Auto Finance, LLC, have begun originating auto loans in Texas and Florida and will soon add California and other states’ markets after gaining $300 million in lease financing from a federally chartered U.S. depository financial institution for its online leasing platform (http://nnw.fm/JQ33a).
The $300-million funding agreement with the national financial institution opens the door for PowerBand to expand its future lending facilities, allowing customers and dealers to use their smart phones or other digital devices to buy, lease, and finance vehicles on PowerBand’s innovative new platform as easily as they...
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