PHILADELPHIA, March 10, 2022 /PRNewswire/ — PowerPay, a monetary expertise firm that gives client lending for house enhancements, has launched a brand new expertise platform to allow streamlined lending processes and develop into new packages for photo voltaic, healthcare and powersports.
PowerPay has launched a brand new expertise platform to allow streamlined lending processes and develop into new packages
The brand new platform allows a quicker approval course of, permitting shoppers to obtain prompt mortgage selections whereas providing an entire waterfall of lending choices for shoppers with FICO scores from 500 to 850. The expertise took two years to construct with the first aim of constructing the service provider lending course of simpler and quicker in an effort to course of loans on the level of sale within the house or workplace.
The flexibleness of the expertise stack allows PowerPay to supply higher pricing for its no payment service provider packages, promotional merchandise which embody 12, 18, 24 month no curiosity, no fee intervals and new verticals. Mortgage phrases vary from 6 months to 25 years with most loans of $100,000. The expertise additionally allows enhanced reporting, improved funding transparency, knowledge analytics, and scalability to compete with nationwide monetary establishments.
Michael Petrakis, CEO of PowerPay: “Whereas our legacy software program helped us develop quickly over the previous two years, our new tech platform dramatically enhances our potential to develop our present packages whereas including thrilling new verticals like healthcare, photo voltaic and powersports. That is 100% about making life simpler for our retailers and their prospects whereas paving a path towards future development”.
About PowerPay
Launched in 2020, PowerPay is a monetary expertise firm offering seamless client financing options to over 7,000 contractors and retailers. The corporate helps retailers to develop their companies with a easy level of sale financing platform changing giant purchases into inexpensive month-to-month funds. PowerPay has processed $1.5 Billion in house enchancment loans since its inception.www.getpowerpay.com
Contacts:
Arina Zhukova
800-397-4485
View authentic content material to obtain multimedia:https://www.prnewswire.com/news-releases/powerpay-launches-new-loan-origination-technology-platform-301499577.html
SOURCE PowerPay
