Digital Power Lending, a California finance lender and an indirect subsidiary of DPW Holdings, will begin offering loan services on its fintech portal DigitalPowerLending.com, and its other affiliated websites, and will begin brokering loans through various financial institutions beginning in Q3/20.
Digital Power Lending plans on offering a streamlined application process to allow borrowers to access credit facilities from $25,000 to $20 million from multiple banking and lending institutions with a variety of financial capabilities. Through a range of partnerships and affiliations, Digital Power Lending expects to service the borrowing needs of small businesses, including business term loans, equipment acquisition loans and accounts receivable loans.
“In addition to DPL’s portfolio lending, we intend to broker loans through our connections with various financial institutions from time to time. We believe that offering the brokerage services will allow us to expand our client base and keep our loan exposure to a minimum, while we build our internal capital base. We expect our fintech lending platform will become a more important part of the company’s future,” Darren Magot, CEO of Ault Global, (formerly known as DPW Financial Group), said.
