PowerBand Solutions (PBX.C) expands their auto finance reach to include Florida and Texas markets

finance
07/16/2020

PowerBand Solutions (PBX.V) United States leasing division, MUSA Auto Finance, has begun drawing in revenue from leases focused on the Texas and Florida markets.

MUSA gives access to financing, allowing customers approval for leases in seconds.

“The Company has made considerable and carefully targeted investments in our virtual transaction platform. PowerBand is well positioned to achieve significant revenue growth in 2020, and in the years ahead. I thank our strategic partners and investors for their support, and am proud that we are now offering people a way to acquire and sell a vehicle from any location, as easily as you can now buy a product from Amazon on your smart phone,” said Kelly Jennings, CEO of Powerband.

MUSA announced a USD $300 million financing with a U.S. depository financial institution on July 13. This agreement enabled MUSA, which is majority owned by PowerBand, to commence offering financing options to customers in the United States.

“I’m happy to report that our virtual transaction system is working as planned and completing leases and financing in the United States. PowerBand will be offering its leasing programs in California and across the United States in the very near future,” said Jennings.

The company intends to put Craigslist out of business, for cars at least. PowerBand’s platform, which includes MUSA, comes with an application used on either a smartphone, or tablet which lets consumers buy, sell, lease or finance vehicles from anywhere. PowerBand allows for remote transactions, giving customers the ability to circumvent the actual face-to-face meeting part of buying, leasing or renting a car, and therefore do their part for social distancing in the fight against COVID-19. It also makes transactions faster, and more transparent and cheaper in that it removes the need for a middleman, be it Craigslist as stated above or a sleazy used car salesmen, and therefore the extra fees that come along with him.

—Joseph Morton

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