PowerPay enters health care financing market
By HME News Staff
Updated 10:10 AM CDT, Mon March 28, 2022
KING OF PRUSSIA, Pa. – PowerPay, a financial technology company that provides consumer lending for home improvements, has launched its services in a new vertical: health care financing. The company’s health care financing enables medical professionals to offer the patients loans of up to $60,000 with 9.99% rates and terms from six months to six years. “We’re excited to enter the patient financing vertical because we see an enormous opportunity to disrupt the traditional high merchant fee model currently offered by big banks,” said David Haas, co-founder and COO of PowerPay. “Offering longer terms with lower rates and no merchant fees eliminates friction in the model and is a win-win for doctors and patients.” PowerPay says it has reached more than $1 billion in loan volume in one year since its launch in the home improvement vertical.
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