Saturday, July 12, 2025

Latest

PowerBand To Begin Lease Originations, Access Extensive Lease Financing

PowerBand Solutions (TSXV: PBX) announced this morning it expects to begin lease originations via its proprietary cloud-based platform for consumers and auto dealers this month, with CEO Kelly Jennings indicating that the company anticipates to originate lease contracts for consumers and dealers alike once all financial institutions are onboarded successfully. Extensive lease financing from US financial institutions as a result is expected in the near term.

The platform will enable consumers and dealers to access extensive funding facilities from national financial institutions. These exclusive financing arrangements are to be made public upon completion of each specific financing agreement, with CEO Jennings indicating that these institutions are in the process of being onboarded to the PowerBand platform, with MUSA anticipated to originate significant leases upon the closing of the contracts.

The lease originations will be sourced through that of MUSA, PowerBand’s 60% owned cloud-based transaction platform. Combined with PowerBand’s proprietary platform, it enables consumers and dealers to buy, sell, trade, finance and lease vehicles from smartphones and other digital devices.

"I want to thank MUSA CEO Jeff Morgan and the MUSA team for their hard work and steadfast commitment to developing this innovation. Once all the financial institutions are onboarded, we anticipate the platform will be originating significant lease contracts for consumers and dealers. It will enable people to acquire just about any vehicle - electric and non-electric - from any location using a smart phone or other digital device." 
Kelly Jennings, CEO PowerBand Solutions

A majority stake in MUSA was acquired by PowerBand in July 2019 as a means of advancing the mission of disrupting the automotive market through PowerBand’s proprietary cloud-based platform. The technology behind MUSA takes an application, calculates a lease, auto decisions the application, provides an approval back to dealer partners and pre-fills a lease contract accurately – with approvals occurring in only a few seconds. The tech was awarded a contract by Tesla Motors to become a national leasing partner in 2018.

Further, PowerBand has agreed to make the entire PowerBand transactional platform available to the thousands of dealerships currently working with RouteOne LLc. RouteOne maintains a footprint of over 16,000 automotive dealers and 1,500 finance sources, and was formed by a joint venture between Ally Financial, Ford Motor Credit Company, TD Auto Finance, and Toyota Financial Services. The company provides a suite of finance and insurance tools, including credit applications, eContracting to digital retail, and compliance.

PowerBand Solutions last traded at $0.20 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

Mergers Set the Stage for Uranium’s Growth Cycle | Forum-Baselode Merger

The Goal is Gold Production as Soon as Possible! | Gordon Robb – ESGOLD Corp.

Snowline Gold: The Multi Billion Dollar Valley PEA

Recommended

First Majestic Produces 7.9 Silver Equivalent Ounces In Q2, Lifts Production Guidance

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

Related News

PowerBand Solutions Secures US$2.0 Billion In Lease Lines For EVs

PowerBand Solutions (TSXV: PBX) this morning revealed that it has secured two additional credit facilities....

Tuesday, May 4, 2021, 08:05:20 AM

PowerBand Sees National Car Retailer That Purchases 48,000 Vehicles Annually Join Platform

PowerBand Solutions (TSXV: PBX) appears to have acquired a major client for its D2D Auto...

Tuesday, August 25, 2020, 09:32:04 AM

The Next Big Online Auto Platform? – The Daily Dive feat Kelly Jennings of Powerband Solutions

Today on the Daily Dive, host Cassandra Leah is joined by Kelly Jennings, CEO of...

Wednesday, January 13, 2021, 01:30:00 PM

PowerBand Solutions Forms Canadian Leasing & Finance Division

PowerBand Solutions (TSXV: PBX) is progressing towards operationalizing its cloud-based platform for automotive transactions, announcing...

Wednesday, January 15, 2020, 01:38:07 PM

PowerBand Sees D&P Convert US$6 Million Debentures To Equity Stake

PowerBand Solutions (TSXV: PBX) this morning announced that it has seen D&P Holdings convert US$6...

Thursday, June 25, 2020, 09:18:25 AM