PowerBand Signs Two Letters of Intent to Become National Lease Partner

PowerBand Solutions Inc. announced it has signed Letters of Intent (LOI) with two companies to become their National Lease Partner. The first company, a used vehicle dealer with over 20 locations in 10 U.S. states, boasts an inventory of more than 4,500 vehicles and a flooring capacity exceeding USD 100 million. They currently only offer retail financing through several National Banks.

The second company specializes in conversion vans and operates in 31 states with over 90 locations. It serves disabled veterans and citizens with disabilities, offering the largest inventory of conversion vehicles in the U.S., alongside wheelchair lifts and scooters.

Upon completing the agreements, PowerBand will provide lender services for indirect financing via a competitive platform incorporating its proprietary lease calculation technology. CEO Jeff Morgan expressed excitement over these growth opportunities, noting the potential for developing tailored leasing programs. Definitive agreements are expected in the coming months.