Business
Buy, Sell, Lease Or Trade Your Car - Even From Home
PowerBand CEO says company well-capitalized to execute platform enabling consumers to acquir...
About this update from Ameritrust Financial Technologies Inc.
[{"type":"text","content":"Buy, Sell, Lease Or Trade Your Car - Even From HomePowerBand CEO says company well-capitalized to execute platform enabling consumers to acquire vehicles using smart phonesVANCOUVER, BC / ACCESSWIRE / March 23, 2020 / Despite the challenges of the COVID-19 pandemic, PowerBand Solutions Inc. (TSXV:PBX)(OTCQB:PWWBF)(Frankfurt:1ZVA) (\"PowerBand\", \"PBX\" or the \"Company\") remains on track to secure extensive credit facilities that will be made available on its cloud-based transaction platform, to enable consumers to buy, lease and sell vehicles on their smart phones or home computers.\"We have enacted the necessary health protocols to keep our colleagues and families safe as we fight back against this global health crisis,\" said CEO Kelly Jennings. \"As a result, I want to assure you PowerBand remains on track with implementation of its strategy to allow people to buy, sell, lease and trade a car as easily as they purchase a product on Amazon or order an Uber on their smart phone.\"\"In fact, as we watch the devastating impact of the coronavirus on the retail sector, I believe more than ever PowerBand's technology will be another tool adding resiliency to the automotive retail sector and the economy,\" said Jennings. \"While nothing can replace the value of human contact, there is no doubt technologies that enable people to buy and sell remotely will be an essential part of the future customer experience in the automotive sector.\"PowerBand continues its advanced negotiations with institutional lenders to acquire extensive credit facilities, which consumers will be able to access on the PowerBand platform through their digital devices. As well, the company is moving ahead with plans that will enable consumers and dealers to acquire insurance and warranty products when they buy, sell, lease or trade in vehicles.PowerBand was recently endorsed by D&P Holdings, Inc. (\"D&P\"), one of the United States' largest insurance administrators, which on March 2, 2020 announced a strategic investment of USD $12.5 million. D&P, which works with more than 850 US car dealerships, made its first USD $1.5 million investment on March 6, 2020 and the entire investment is expected to be completed by May 6, 2020. D&P is the managing general agency for The Hanover Insurance Group, which has a $5-billlion market cap and is rated A (Ex...