PowerBand Solutions signs two LOIs to become national lease partner

PowerBand Solutions has signed Letters of Intent 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 $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.