Tower Loan Announces New Customer Mobile App

Core Insights - Tower Loan is launching an innovative mobile app in Q2 2025 to enhance the loan process and assist customers in managing their finances more effectively [1][4] Group 1: Mobile App Features - The app will allow customers to apply for loans with just a few taps, simplifying the application process [2] - It will provide tools for customers to assess and choose the best loan options, along with easier payment methods including recurring payment options and timely reminders [2][3] - The app will also include financial literacy resources, tips, and courses aimed at improving users' financial skills, particularly benefiting younger customers [3] Group 2: Company Commitment - Tower Loan's CTO emphasized the app as the beginning of continuous innovation to better serve customers and positively impact their financial journeys [3] - The CEO highlighted the app's role in empowering customers throughout their financial journey, from loan application to financial education [4] Group 3: Company Background - Tower Loan is a portfolio company of Prospect Capital Corporation, which has total assets of $7.2 billion as of December 31, 2024 [5]