DENVER, Colo., Nov. 6, 2014 (GLOBE NEWSWIRE) -- via PRWEB - P2Binvestor (P2Bi), a crowdfunding platform for receivables-secured business lending, achieved new milestones this week: The company now provides over $10.5 million in lines of credit to 19 clients and purchased more than $24 million in invoices since May 2014. The young company is on track to extend over $35 million in credit lines by mid 2015 and continues to build relationships with institutional investors to ensure capacity for an increased lending portfolio. To date, P2Bi has financed the growth of companies in manufacturing, technology, personnel services, and natural foods with annual revenues ranging between $2 and $10 million.
"We're proving the effectiveness of our model," said P2Bi cofounder and President Krista Morgan. "Crowdlending is perfect for younger, fast-growing companies that need a good chunk of working capital to get to the next growth stage. We are bridging these companies to bank financing with flexible credit lines and a strong desire to see them succeed," Morgan added.
P2Bi provides working capital financing of $100,000 to $5 million--secured by accounts receivable or future contractual revenue--to growing small and middle-market companies with annual revenues of up to $20 million.
"We learned a lot about our place in the lending ecosystem over the last few months," said Bruce Morgan, CEO and cofounder of P2Bi. "We can provide larger credit lines and better rates and terms than typical online lenders, and we interface with our bank partners nicely because we finance their clients when they cannot, then release those clients from our contract with no penalties when the bank is ready for them. We get a lot of referrals from banks because of our rate guarantee," Morgan continued.
P2Bi's asset-backed lending products are designed to provide growth-stage businesses with a middle path between traditional lenders and expensive alternative financing companies. 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 small business clients.
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About P2Binvestor
P2Binvestor (P2Bi) is a crowdlending platform for working capital. Using technology and crowdfunding to reduce costs, P2Bi simplifies lending and provides efficient and competitively priced growth capital to small and medium businesses. P2Bi offers asset-backed lines of credit secured by receivables or future contractual revenue (especially designed for SaaS and other companies with regular payment receipts). P2Bi has the capacity to consider multi-million dollar credit lines and finances companies in all 50 U.S. states in various industries including technology, energy, personnel services, natural foods and beverages, manufacturing, and more. Accredited investors participate in financing each business and earn a fair return. Learn more at P2Bi.com.
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