Saturday, July 5, 2025

Latest

PowerBand Secures Second Financing Facility For Virtual Automotive Transaction Platform

In its third major development this week, PowerBand Solutions (TSXV: PBX) this morning announced that it has secured an additional financing facility for US-based consumers and dealers to use on the firms virtual transaction platform. The news follows the prior announcements this week that the company has secured 4.5 million vehicles that will be made available for sale and lease on its platform, and the launch of a DRIVRZ branded credit card for consumers.

Referred to as a Forward Flow Purchase and Security Agreement, the agreement will enable consumers on PowerBand’s virtual platform to have another source of funding for conducting sale and lease transactions. The latest finance facility is said to come from a California-based credit union, with the facility said to be similar to and expected to operate much the same as the US$300 million facility entered into back in July.

This second facility, much like the first facility arrangement entered into by the company, will be securitized, turned, and replenished once capacity is met. Combined, the facilities are part of the ongoing strategy being conducted by PowerBand to acquire multi billion dollar financing lines for consumers and dealers. These financings are to support lease originations from the virtual transactional platform, known as 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. 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.”

Kelly Jennings, CEO

Further details of the agreement are said to be withheld for commercial reasons.

Powerband Solutions last traded at $0.235 on the TSX Venture.


FULL DISCLOSURE: PowerBand Solutions is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover PowerBand Solutions on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

Video Articles

Torex Gold Acquires Reyna Silver For CASH!

Dundee Acquires Adriatic Metals: The Balkan Growth Strategy

Gold Drilling Scaled to 60,000 Meters: How Big Can This Get? | Roger Rosmus – Goliath Resources

Recommended

Antimony Resources Drills 4.17% Antimony Over 7.4 Metres At Bald Hill

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Related News

PowerBand Solutions Appoints President Of North American Operations

The management team continues to be bolstered at PowerBand Solutions (TSXV: PBX), with the company...

Tuesday, January 12, 2021, 09:01:57 AM

PowerBand Solutions Sees March Gross Sales Grow 44% To $11.5 Million

PowerBand Solutions (TSXV: PBX) this morning reported its March gross sales figures, reporting a record...

Tuesday, April 6, 2021, 09:17:33 AM

PowerBand Solutions Prepares To Launch Driveaway App Nationwide

PowerBand Solutions (TSXV: PBX) announced this morning that it is preparing to launch its Driveaway...

Monday, June 15, 2020, 09:06:43 AM

PowerBand Solutions Signs Term Sheet Valuing Subsidiary In Excess of US$111 Million

PowerBand Solutions (TSXV: PBX) has signed a term sheet for a significant investment into both...

Monday, March 2, 2020, 09:41:39 AM

PowerBand Solutions And Bryan Hunt Launch Driveaway App

PowerBand Solutions (TSXV: PBX) has launched its mobile app in conjunction with that of Bryan...

Thursday, February 20, 2020, 09:10:43 AM