SurgePays forms LWP-SURGE venture with LowWeeklyPayments for smartphone rent-to-own program
SURG•Ownership and control terms
SurgePays expects a 51% stake, manager control, and three of five board seats; LowWeeklyPayments would hold 49%.
No definitive agreements or operations yet
Definitive joint-venture agreements are not signed; formation does not commit either party to launch operations or secure portfolio funding.
No expected material impact is seen from the formation alone; LWP-SURGE has no operations, revenue, assets, or liabilities so far.
Venture formed for planned smartphone rent-to-own program
SurgePays formed LWP-SURGE, a Wyoming LLC, as the planned operating vehicle for a joint venture with All Prepaid’s LowWeeklyPayments.
The proposed venture targets a smartphone rent-to-own program using SurgePays’ dealer network, supported by LowWeeklyPayments’ approval and servicing platform.
