
U.S. Bank Avvance Added to Pure Finance Group's Home Improvement Lending Platform
MINNEAPOLIS--(BUSINESS WIRE)--U.S. Bank Avvance, a real-time, point-of-sale lending solution, has been selected by Pure Finance Group to support the home improvement lender's next growth effort.
The integration of Avvance enabled Pure Finance's efforts to expand into the HVAC segment and is the latest fintech platform to leverage Avvance to provide real-time point-of-sale lending for its own clients.
'U.S. Bank Avvance supports business growth of our partners by providing financing options at the time of sale to meet customers' demands, coupled with the reliability of the 5 th largest commercial bank in the United States,' said Rob Seidman, head of U.S. Bank Avvance. 'We're excited to support Pure Finance's expansion into a new segment with Avvance, as we continue to discover partners who want the flexibility that real-time point-of-sale lending brings.'
Founded in 2018, the Maryland-based Pure Finance has provided financing for more than 20,000 homeowners through its lending platform developed to support home improvement contractors.
'We're thrilled to leverage the kind of innovative lending product like Avvance from an innovative and reliable banking partner in U.S. Bank,' said Ed Meister, CEO at Pure Finance Group.
Avvance is the latest addition to U.S. Bank's deep capabilities that bring together banking and payments. Launched in October 2023 as U.S. Bank's first real-time consumer lending product, Avvance provides APR-based consumer term loans at the point-of-sale. Focused at launch on providing real-time financing for home improvement and healthcare clients, the Avvance team is continuing to explore how to further expand the innovative point of sale solution to additional segments.
To learn more about Avvance, visit www.avvance.com.
About U.S. Bancorp
U.S. Bancorp, with approximately 70,000 employees and $676 billion in assets as of March 31, 2025, is the parent company of U.S. Bank National Association. Headquartered in Minneapolis, the company serves millions of customers locally, nationally and globally through a diversified mix of businesses including consumer banking, business banking, commercial banking, institutional banking, payments and wealth management. U.S. Bancorp has been recognized for its approach to digital innovation, community partnerships and customer service, including being named one of the 2025 World's Most Ethical Companies and one of Fortune's most admired superregional banks. Learn more at usbank.com/about.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
Uncrustables Are on a Seemingly Unstoppable Run to $1 Billion in Sales
Sales of the Uncrustables sandwich continued to grow, despite soft peanut butter and jam sales in the most recent quarter, The J.M. Smucker Co. said. The company is poised to achieve its goal of hitting more than $1 billion in Uncrustables sales in the current fiscal year, executives said. J.M. Smucker aims to keep the momentum going with limited editions of a product known to be eaten by musicians and athletes such as Travis haven't lost their edge. Despite the fact that making making peanut butter and jelly sandwiches isn't particularly hard, Americans continue to opt for the shortcut offered by The J.M. Smucker Co. (SJM). Sales of Jif peanut butter and Smucker's jam fell year-over-year in the last quarter, while sales of the Uncrustables sandwich rose, CEO Mark Smucker said on a conference call Tuesday. Uncrustables sales leaped 15% year-over-year in fiscal year 2025, hitting $920 million, according to company executives. The sandwich now accounts for more than a tenth of annual sales at J.M. Smucker, which also sells pet food along with Folgers and Café Bustelo coffee. Hitting $1 billion in annual sales of the sandwich has been part of the company's agenda since at least 2021, when Uncrustables sales were about half that amount. Now, the mark is within striking distance. The company wants to continue building momentum with new riffs on the PB&J, robust marketing and broader distribution, Mark Smucker said at a conference in March. 'We definitely think there's growth beyond … $1 billion,' said Smucker, according to a transcript made available by AlphaSense. 'And we've talked about how long it took us to figure out how to make these things in a profitable and mass-produced high-quality way. And now that we're doing that, we can really fire on all cylinders and drive the growth.' Demand for Uncrustables has been so strong that J.M. Smucker opened a $1.1 billion plant in Alabama last year to ramp up production. And appetite for the sandwiches is expected to withstand price increases, executives said: J.M. Smucker recently raised its list price for Uncrustables for the first time in three years, Smucker said on the earnings call. (The company's 2026 forecast is based on a low-single-digit percent price bump, CFO Tucker Marshall said.) The product has long benefited from high-profile fans—from musicians like Drake to sports icons, such as Travis Kelce, according to news reports. Athletes say the snack has enough calories and protein to fuel their performance. Affinity for the sandwich has spread beyond sports fields and school cafeterias to corporate break rooms, according to a 2023 Wall Street Journal article. The Ohio-based company hopes to generate still more hype with Uncrustables fillings that are available for a limited time, Mark Smucker said on the earnings call. We have 'begun launching a regular cadence of limited edition flavors starting this summer with a new peanut butter and mixer berry spread variety,' he said. J.M. Smucker shares fell nearly 16% Tuesday after it missed fourth-quarter sales estimates and released an outlook that was more cautious than analysts expected. Read the original article on Investopedia Sign in to access your portfolio
Yahoo
an hour ago
- Yahoo
India's granaries overflow as rice stocks hit record, wheat surges
By Rajendra Jadhav MUMBAI (Reuters) -India's rice stocks in government warehouses rose 18% from a year ago to a record high for the start of June, while wheat stocks have hit their highest level in four years on higher procurement from farmers, official data showed on Wednesday. Record rice stocks will help the world's biggest exporter increase shipments, while an improvement in wheat inventories will help the federal government tame any price spikes later this year by increasing open market sales. State reserves of rice, including unmilled paddy, totalled a record 59.5 million metric tons as of June 1, far exceeding the government's target of 13.5 million tons for July 1. Wheat stocks stood at 36.9 million tons on June 1, well above the government's target of 27.6 million tons, the data showed. "Rice stocks have piled up way too much. The government really needs to bring them down before the next buying season kicks off in October," said a New Delhi-based dealer at a global trading firm. India, which accounts for around 40% of global rice exports, removed the last of its export curbs on the grain in March 2025, with the initial restrictions having been imposed in 2022. Wheat stocks have risen to a comfortable position mainly because of higher procurement, which will help New Delhi sell more wheat to bulk consumers during the lean supply season, said a Mumbai-based dealer. The government has so far brought 30 million tons of wheat from farmers, the most in four years, according to data compiled by Food Corporation of India (FCI). Disappointing harvests in the past three years and lower purchases by the FCI had pushed up prices of the staple grain and raised expectations that India may be forced to import wheat for the first time in seven years. But the buildup in stocks this year means the country should be able to meet domestic demand without imports.
Yahoo
an hour ago
- Yahoo
Pound dips ahead of Rachel Reeves' spending review
The pound slipped 0.1% lower against the dollar on Wednesday morning, trading at $1.3477 at the time of writing, ahead of the UK government spending review. Reeves is due to deliver the spending review at 12h30 BST on Wednesday, when she will set out government departmental budgets for the next few years. The chancellor is expected to unveil a £39bn boost to funding for affordable housing, a £15.6bn investment in public transport, a £11.5bn pledge for the Sizewell C nuclear project, as well as more spending on the national health service (NHS), defence and schools. Susannah Streeter, head of money and markets at Hargreaves Lansdown, said: "Focus will be trained on bond market reaction to chancellor Rachel Reeves' plan to boost capital spending on infrastructure but keep a tighter rein on the day-to-day spending of departmental budgets, while ringfencing funding increases to health and defence." She said that the yields on 10-year and 30-year government bonds, known as gilts, "which are watched closely for any signs of a bond market strop out, have dropped back in recent days." "It may partly be due to a weakening labour market raising hopes that forecasts for more interest rate cuts will stay on track," Streeter said. "But so far, the headlines released about spending commitments appear to have kept investors in UK government debt on side, but details will be dug through, particularly when it comes to capital spending commitments." Read more: Spending review - live: Rachel Reeves expected to unveil more funding for schools, NHS and defence Streeter said that investors were also weighing the World Bank's cut to its global economic growth forecast. The Washington-based lender said on Tuesday it now expected global growth to slow to 2.3% in 2025, which is nearly half a percentage point lower than the rate that had been expected at the start of the year. While the World Bank said a global recession was not expected, it said that if forecasts for the next two years materialised, average global growth for the first seven years of the 2020s would be the slowest of any decade since the 1960s. Streeter said that there was "some optimism" about the outcome of the latest trade talks between the US and China but pointed out this was "largely an agreement to stick to the previous plan for compromise". The US dollar index ( which measures the greenback against a basket of six currencies, hovered around the flatline at 99.11. The pound was also little changed against the euro (GBPEUR=X) on Wednesday morning, trading at €1.1809. Gold prices rose on Wednesday morning, as investors weighed concerns around economic growth and the developments on trade. Gold futures (GC=F) climbed 0.5% to $3,358.40 per ounce at the time of writing, while the spot gold price advanced 0.7% to $3,345.51 per ounce. US and Chinese negotiators said overnight that they had a agreed on a framework deal to restore their trade truce. Read more: FTSE 100 LIVE: Stocks rise as traders await UK spending review and US-China trade update Richard Hunter, head of markets at Interactive Investor, said: "Details of the framework which has been agreed in principle were patchy and in any event yet to be signed off by both presidents. "Chinese exports of rare earth minerals are likely to have been high on the agenda, although at this stage it has not become apparent what China may have negotiated in return," he said. "Even so, the two days of talks represent progress and the hope is now that the more conciliatory momentum can be maintained." Oil prices gained on Wednesday morning, amid signs of progress on US and China trade talks. Brent crude futures (BZ=F) rose 0.3% to $67.09 a barrel, while West Texas Intermediate futures (CL=F) climbed 0.4% at $65.26 a barrel. News of another trade truce between the US and China offered some relief for investors, as concerns that a tariff-induced economic slowdown could impact demand for fuel have weighed on oil prices. Stocks: Create your watchlist and portfolio That said, concerns around economic growth remained in focus, on the back of the World Bank's latest forecasts. Hargreaves Landown's Streeter pointed out that brent crude dipped earlier in Wednesday's session, which came "amid the forecasts of clouds gathering over the global economy". "An industry report from the US Energy Information Administration also indicated there's set to be a larger build up in oil stocks this year, than it expected just a month ago," she said. In broader market movements, the FTSE 100 (^FTSE) was up 0.3% to 8,875 points at the time writing. For more details, on broader market movements check our live coverage here. Read more: The UK's rental boom is over What you need to know about UK's private stock market Pisces Stocks to watch this week: TSMC, Adobe, Tesco, Bellway and InditexError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data