TORONTO, ON / ACCESSWIRE / March 2, 2022 / PowerBand Solutions Inc. (TSXV:PBX, Financial)(OTCQB:PWWBF)(FSE:1ZVA) ("PowerBand", "PBX" or the "Company"), a comprehensive e-commerce solution transforming the online experience to sell, trade, lease, and finance vehicles is pleased to announce that the Company has received a letter of intent from a leading Canadian Financial Institution to provide funding through a line of credit and term-loan facility. The credit instruments would support a total funding commitment of CAD $4.0 million and are anticipated to carry a blended cost of capital less than 10%, with no equity dilution. The term-loan is contemplated with a 12-month interest-only period and 36-month principal amortization period thereafter. PowerBand will work expeditiously with the lender to satisfy confirmatory due diligence requirements.
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