PowerPay, a prominent financial technology platform, is pleased to announce the successful closing of a $400 million committed warehouse facility. KeyBank led the transaction as part of a multi-bank syndicate. This strategic financial arrangement positions PowerPay to continue its remarkable growth trajectory, enabling expanded lending capacity to serve its consumers and channel partners nationwide. The arrangement secures funding stability in uncertain economic conditions as the Company continues to execute on its asset-backed securitization (ABS) program.
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Over the past year, PowerPay has experienced 4x growth in loan volume, driven by increasing demand for its home improvement and patient financing solutions. This facility reinforces the Company’s standing as a market leader in innovative lending products.
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“Securing this facility with KeyBank and our syndicate partners is a significant milestone for PowerPay,” said Mike Petrakis – CEO. “It not only validates our business model but also empowers us to expand our finance offerings as the Company introduces secured lending products tailored for the home improvement market. As we continue to differentiate ourselves, we remain committed to providing our consumers and channel partners with unique and diversified financing solutions.”
With its foothold firmly established in the home improvement sector, PowerPay is now accelerating the rollout of secured lending products, offering more competitive and flexible financing options to contractors, homeowners, and healthcare providers. This expansion aligns with the Company’s broader vision of enhancing accessibility and affordability in consumer financing.
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KeyBank’s leadership in structuring the syndicate reflects a strong financial backing and confidence in PowerPay’s mission and performance. The collaborative effort among multiple financial institutions will ensure the Company’s long-term sustainability and continued innovation in lending solutions.
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Source – PR Newswire
