In California, License no. 60 DBO77905 authorizes Digital Power Lending (DPL) to make commercial loans in the state. Offering everything from merchant cash advances to equipment financing, and more, DPL is one of many companies working to provide capital to small businesses.
But DPL stands out for two reasons. First, the company’s founder and executive chairman, Milton “Todd” Ault III, has more than 100,000 subscribers on his youtube channel. Second, DPL plans to fund up to $100 million in commercial loans secured by Bitcoin, according to a recent announcement. Planning to lend in the individual range of $1 million to $25 million, DPL says that the program “will allow the borrower to repay a loan using various methods including cash, Bitcoin, or, in the case of convertible promissory notes, common stock of the borrower.”
“The Company’s objective is to allocate a total of $250 million in capital to DP Lending, including the $100 million in Bitcoin,” the company states.
Ault explained, “From my many years of financing companies, I know all too well the challenges faced by these aspiring entrepreneurs and employers. It strikes me as a natural progression of the Company and its subsidiaries to join to provide a new unique source of capitalization and to assist in their growth while creating a new revenue stream in a very positive and mutually beneficial way.”