Crowdlending Platform P2Binvestor Announces $50 Million Milestone
Small and midsize businesses now have access to revolving lines of credit to improve cashflow and finance growth without giving up equity.
DENVER, March 18, 2015 /PRNewswire/ -- P2Binvestor (P2Bi), the leading crowdlending platform for commercial lines of credit, announces more than $50 million in invoices funded since signing its first direct client in May 2014. To date, P2Bi has financed the growth of companies in technology, natural foods and products, manufacturing, energy, and personnel services with average annual revenues ranging between $500,000 and $25 million.
"Exceeding $50 million in purchased invoices in 10 months is a huge achievement for us. It speaks volumes about the market demand for our product and the hard work of our amazing team," said Krista Morgan, P2Bi CEO and cofounder. "I am confident our rapid growth will continue in 2015 as we launch new products; I'm especially excited about the first revolving line of credit for SaaS companies and a free-fill loan product for our natural foods customers," Morgan added.
P2Bi's crowdsourced funding model reduces its effective cost of capital, creating room for more flexible rates and terms for its clients. A crowd of accredited investors participates in funding each credit line, and investors earn a fair return on the platform in exchange for supporting P2Bi's clients.
"The last year has been about proving we can underwrite effectively and be a good partner to the great companies we are funding," said Bruce Morgan, executive vice chairman and cofounder of P2Bi. "Our innovative crowdfunding model has enabled us to achieve in a short amount of time what a traditional alternative finance company would take years to accomplish," Morgan continued.
P2Bi can provide working capital financing of up to $5 million per client—normally secured by accounts receivable, future contractual revenue flows or other assets. The company's aim is to improve access to working capital for growing businesses with a new generation of financing products.
About P2Binvestor
P2Binvestor (P2Bi) is a crowdlending platform for working capital. P2Bi simplifies lending through technology and provides efficient and competitively priced working capital to growing B2B businesses. P2Bi's investor crowd is limited to accredited investor participation. Learn more at P2Bi.com.
Contact
Erin Bassity | VP Marketing | P2Binvestor | (720) 236-5121 | [email protected]
Photo - http://photos.prnewswire.com/prnh/20150318/182877
SOURCE P2Binvestor
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