P2Binvestor Inc. received a $1 million revolving line of credit to fund working capital loans for growing businesses.
P2Binvestor Inc. announced the signing of a $1 million revolving credit facility with New College Capital Ltd to fund working capital loans for growing businesses.
“Crowdfunding has proven its efficacy in consumer debt finance, equity, and funding for innovative products and ideas on sites like Kickstarter,” said Bruce Morgan, CEO of P2Binvestor. “P2Bi is the first crowdfunding platform to fund businesses that cannot access working capital from the banking system. This new facility from our partners at New College Capital will enable P2Bi to serve our clients with even greater flexibility.”
P2Bi underwrites commercial loans for growing, innovative companies seeking cost-efficient working capital. The company offers three different funding products and works to find the best match for a company.
“We have found success in offering our fund investors a mechanism for investing in receivables-backed business loans around the world,” said New College Capital Ltd. Director Robert Reoch, “These loans provide fair yields to investors while offering limited exposure to interest-rate changes and low correlation to other market risks. We are pleased to support P2Binvestor with this revolving credit facility as we are impressed with their underwriting standards and commitment to fund worthy clients while protecting the interests of their investor crowd.”
P2Bi funds clients throughout the United States with commercial loans of up to $5 million. Loans are typically secured by its clients’ accounts receivable or by assignment of contractual revenue flows and are funded by a crowd of accredited investors.
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