PowerPay reaches $ 1 billion in home improvement loans
PHILADELPHIA CREAM, March 8, 2021 / PRNewswire / – PowerPay, the country’s fastest growing home improvement finance provider, has overtaken $ 1 billion in loan arrangements following its launch in December 2019.
Through its network of 7,000 home improvement contractors, the company has funded more than 50,000 projects nationwide with an average project cost of $ 20,000. By the end of 2021, PowerPay aims to achieve an execution rate of $ 3 billion while doubling the network of subcontractors and the employee base to exceed 200 employees.
“We believe we need to provide a great customer experience when installing bathrooms, windows and decks, while remaining affordable. PowerPay offers the best programs on the market today and we’re happy to be a part of it. of their tremendous growth “- Brian Gottleib, CEO of Tundraland, one of the country’s biggest renovators.
“We appreciate the importance of funding home improvement, which improves a family’s most important asset. Our partnership with PowerPay has allowed us to expand into innovative point-of-sale home improvement financing programs that deliver real economic benefits to families and entrepreneurs. We are thrilled to be part of PowerPay’s success “- Bruce K. Foulke, President and CEO, American Heritage Credit Union
Mike Petrakis, CEO of PowerPay, said: “We are really proud of our performance to date, but we have much bigger plans for the company. We continue to invest in technology and people, adding compelling new products, to help our contractors expand their offering. We anticipate consolidation in the industry and are looking to make acquisitions and explore growth opportunities. “
Launched in 2019, PowerPay is a financial technology company that provides seamless financing solutions for home improvement to more than 7,000 entrepreneurs. The company helps entrepreneurs grow their businesses with a simple point-of-sale financing platform that provides access to loans of up to $ 100,000 over 15 years with rates starting at 4.99%. getpowerpay.com