Business
PowerBand Signs Two Letters of Intent to Become National Lease Partner
TORONTO, ON / ACCESSWIRE / August 13, 2024 / PowerBand Solutions Inc. (TSXV:PBX)(OTC PINK:PWWB...
About this update from Ameritrust Financial Technologies Inc.
[{"type":"text","content":"PowerBand Signs Two Letters of Intent to Become National Lease Partner TORONTO, ON / ACCESSWIRE / August 13, 2024 / PowerBand Solutions Inc. (TSXV:PBX)(OTC PINK:PWWBF)(Frankfurt:1ZVA) (\" PowerBand \", \" PBX \" or the \" Company \"), a comprehensive trading and financing technology platform transforming the online experience to sell, trade, lease, and finance vehicles, announces that is has signed Letters of Intent (\" LOI \") with two separate companies naming PowerBand as their National Lease Partner.The first LOI is with a used vehicle company that has over 20 locations in 10 different states across the United States. The company has been in business since 2005 and carries more than 4,500 vehicles in inventory with a flooring capacity of over USD $100 million dealing in rebuilt vehicles. The company currently only offers retail financing through several National Banks and lending institutions.The second LOI is with a conversion van company that operates in 31 states with more than 90 locations providing services to disabled Veterans and citizens with disabilities. Through its national network, the company has the largest inventory of conversion vehicles in the U.S. along with other products, including wheelchair lifts and scooters, that improve mobility.Upon execution of definitive agreements with both companies PowerBand will be able to provide lender services for indirect financing to their respective customers by creating a competitive financing platform that incorporates PowerBand's proprietary lease calculation technology.Jeff Morgan, PowerBand's CEO, commented: \"We are thrilled to work towards becoming the National Lease Partner to two companies who share our commitment to industry innovation and customer satisfaction. I am excited about the growth potential of these two opportunities.The LOI's mark the beginning of promising partnerships that will see PowerBand work to develop and implement new leasing programs tailored to the needs of the two company's diverse customer bases. The final agreements are expected to be signed in the coming months.\"About PowerBand Solutions Inc. PowerBand Solutions Inc., listed on the TSX Venture Exchange, OTC PINK, and Frankfurt markets, is a fintech provider disrupting the automotive industry. PowerBand's integrated, cloud-based transaction platform facilitates transactions amongst co...