California Finance Lender to Offer Loans From $25,000 to $20 Million
NEWPORT BEACH, Calif., July 02, 2020 (GLOBE NEWSWIRE) -- DPW Holdings, Inc. (NYSE American: DPW) a diversified holding company (“DPW,” or the “Company”) today announced that its indirect subsidiary and California Finance Lender (License No. 60 DBO-77905), Digital Power Lending, LLC (“DPL”), 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 the third quarter of 2020.
DPL 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 wide range of partnerships and affiliations, we expect DPL to service the borrowing needs of small businesses, including business term loans, equipment acquisition loans, accounts receivable loans and more.
Darren Magot, Chief Executive Officer of Ault Global, Inc. (formerly known as DPW Financial Group, Inc.), said, “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.”
For more information on DPW Holdings and its subsidiaries, the Company recommends that stockholders, investors and any other interested parties read the Company’s public filings and press releases available under the Investor Relations section at www.DPWHoldings.com or available at www.sec.gov.
About Digital Power Lending
Digital Power Lending, LLC is a California Finance Lender (License No. 60 DBO-77905) that specializes in providing capital financing for small businesses through innovative products and services. DPL, a California limited liability company, www.DigitalPowerLending.com is a wholly-owned subsidiary of Ault Global, Inc., a subsidiary of DPW Holdings, Inc.
About DPW Holdings, Inc.
DPW Holdings, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, the Company provides mission-critical products that support a diverse range of industries, including defense/aerospace, industrial, telecommunications, medical, and textiles. In addition, the Company extends credit to select entrepreneurial businesses through a licensed lending subsidiary. DPW’s headquarters are located at 201 Shipyard Way, Suite E, Newport Beach, CA 92663; www.DPWHoldings.com.
This press release contains “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at www.DPWHoldings.com.
IR@DPWHoldings.com or 1-888-753-2235