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The Denver-based business lender wraps up June by issuing a $2MM credit line to a fellow financial technology company in Boulder.
Denver, CO (PRWEB) July 08, 2014
P2Binvestor (P2Bi) announces a $2 million line of credit to a Boulder-based client, representing one of the largest single crowdlending transactions ever. This credit line adds to P2Bis rapid growth and puts the young company on track to achieve a lending portfolio of $25 million this fiscal year.
P2Bi provides access to working capital for innovative, growing companies. It eliminates many of the barriers associated with traditional financing and the high costs associated with subprime commercial lending. The company uses technology and crowdfunding to lower its effective cost of capital to clients. Established in 2012, P2Bi officially went to market in January 2014. To date, the company has originated financing to clients in six U.S. states in various industries that include technology, energy, staffing, natural foods, and construction.
Our easy online application process, quick funding decisions, competitive rates, and crowdfunding model are what set us apart, said Krista Morgan, cofounder and COO of P2Bi. But at the end of the day, clients love doing business with us because we are genuinely interested in helping them grow. Securing growth capital shouldnt be a cumbersome process. We make it easier for borrowers.
P2Bi and its crowd of accredited investors provide businesses with flexible capital that can grow with them; line increases are available as clients need them. The company stands behind its financing by offering a rate guarantee that allows clients to transition, penalty free, to a credit line or term loan with another financial institution if they find a better interest rate.
P2Binvestors funding is a long-term solution that also helps us tremendously in the short term as we aggressively scale our product. It allows us to defer an equity raise, which would have been otherwise unavoidable, said a company spokesperson for P2Bis newest client and recipient of the $2 million credit line. The Boulder company asked not to be named as it prepares for its official public launch.
Both companies are alumni of Finovate, a prominent demo-based conference for innovative startups and established companies in the fields of banking and financial technology (FinTech). Finovate hosts a two-day showcase each spring and fall in which leading FinTech companies and startups present their technology.
P2Binvestor (P2Bi) is a crowdlending platform for working capital. Serving small and midsize businesses, P2Bi currently offers three products: A receivables-purchase product, an asset-backed line of credit, and a credit line secured by future contractual revenue. P2Bi and its crowd of accredited investors have the capacity to fund multi-million dollar credit lines, lend to companies in all 50 U.S. states, and work with businesses in various industries including technology, staffing, natural foods, manufacturing, and more. Learn more at P2Bi.com.
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