Colorado Crowdfunding Platform P2Binvestor Issues $2.9m in New Credit Lines to Businesses
The crowdlender funds three Colorado-based companies to round out its best-performing month to date.
Denver, CO (PRUnderground) June 25th, 2014
P2Binvestor (P2Bi), a Denver-based crowdlending platform that offers businesses a middle path between bank financing and expensive subprime lending, added three Colorado companies to its portfolio in June. The companies include In The Telling, a Boulder-based software and services provider of documentary-style online courses for leading universities; Energy Inspection Services (EIS), a Parker-based provider of integrated field services to customers in the oil and gas industries; and Bhakti Chai, a maker of natural chai beverage products in Boulder. P2Bi funded over $2.9 million in new business in May and June and issued credit lines to its three newest Colorado clients that range from $150,000 to $1 million.
“P2Bi’s creative financing lets us respond quickly to new business opportunities. The market for educational technologies and services continues to expand, and P2Bi is helping us meet that growing demand. This line of credit allows us to aggressively develop new projects without compromising quality,” said Jeff Larsen, CEO and executive producer of In The Telling.
As risk-averse banks tightened credit standards in recent years, the gap in available and reasonably priced working capital for growing companies widened. P2Bi addresses the problem by combining crowdfunding and technology to simplify the lending process, make growth capital easier to obtain, and reduce the effective cost of capital to its clients. Following a successful Series A round in late 2013, P2Bi began funding companies in January of this year.
“P2Bi is more than just a local lender willing to provide us with a flexible line of credit that helps fuel our growth. They are truly interested in helping businesses like EIS navigate periods of rapid growth. P2Bi is a trusted partner, and they have gone above and beyond to launch a successful working relationship between our firms,” said Steve Treadwell, managing partner of Energy Inspection Services. “They provided key financing at fair rates at the right time as we are expanding our presence and growing with key clients throughout the western U.S.,” added Treadwell.
“P2Bi is interested in funding good companies that deserve a better product and are underserved by traditional financial institutions—before they are lured in by alternative lenders with lending practices that border on being predatory,” said Bruce Morgan, cofounder and CEO of P2Binvestor. “Even good companies may not qualify for bank financing. We have products to help you grow to the point where you are bankable.”
About P2Binvestor Inc.
P2Binvestor is a crowdlending platform for commercial working capital. Through technology and a crowd of accredited investors, P2Bi simplifies lending and provides efficient and competitively priced growth capital to small and medium businesses. P2Bi offers three products: A receivables-purchase / contemporary factoring product, an asset-backed line of credit, and a credit line secured by future revenue (designed for SaaS and companies with regular payment terms). P2Binvestor has the capacity to consider multi-million dollar credit lines and lends to companies in all 50 U.S. states in various industries including staffing, natural foods, manufacturing, technology, and more. Learn more at P2Bi.com.