- PowerBand’s finance arm, DRIVRZ Financial, has been approved for two additional US $1-Billion-dollar EV lease lines from Unify Financial Credit Union and Valley Strong Credit Union.
- These two lines are in addition to previously announced lease lines.
VANCOUVER, BC / May 4, 2021 / PowerBand Solutions (TSXV:PBX) (OTCQB:PWWBF) (“PowerBand” “PBX“ or the “Company“), a comprehensive e-commerce solution transforming the online experience to sell, trade, lease, and finance vehicles, is announcing a recent approval to access two US $1 Billion lease lines targeted towards the DRIVRZ™ EV leasing initiative on DRIVRZ Financial platform (formerly MUSA Auto Finance).
PowerBand believes these new EV lease lines position DRIVRZ™ to become the premier EV leasing option in the industry.
The new EV lease lines, which can be expanded as demand increases, have been made available from Unify Financial Credit Union and Valley Strong Credit Union, two of the United States’ leading credit unions.
These are in addition to the existing lease and finance lines which were previously announced. Jon Lamb, CEO of DRIVRZ Financial, will present a Company release later this week to outline the full scope of DRIVRZ Financials’ lease and loan lines now available to the Company.
“This latest development is confirming our intent to become the North American leader in EV leasing,” said Lamb. “Utilizing our unique online leasing experience, we will be able to offer customers an approval on an EV lease in as little as 8 seconds. This demonstrates our ongoing commitment to providing unique products and the stellar customer experience that consumers have come to expect from DRIVRZ Financial.”
Kelly Jennings, CEO and Founder of PowerBand Solutions added: “It is tremendously exciting to be positioned as a leader in this burgeoning industry. EV’s represent a shift in the automotive retail marketplace away from the traditional ownership journey, and we believe that DRIVRZ Financial will be able to provide consumers with the progressive experience they expect.
“We are eager to show the EV industry how we are positioning DRIVRZ Financial to be the benchmark for a consumers’ EV-leasing experience. These new lines, coupled with our unique software, allow us to put our financing plans immediately into full effect. These additional funds will allow us to continue to pursue our goal of being the preferred vendor for EV OEM leasing. We are excited to demonstrate to our shareholders, and potential investors, the market opportunity of the solutions we have built.”
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Chief Executive Officer
About PowerBand Solutions Inc.
PowerBand Solutions Inc., listed on the TSX Venture Exchange and the OTCQB markets, is a fintech provider disrupting the automotive industry. PowerBand’s integrated, cloud-based transaction platform facilitates transactions amongst consumers, dealers, funders and manufacturers (OEMs). It enables them to buy, sell, trade, finance, and lease new and used, electric- and non-electric vehicles, on smart phones or any other online digital devices, from any location. PowerBand’s transaction platform – being trademarked under DRIVRZ™ – is being made available across North American and global markets.
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