On Monday, marketplace lender P2Binvestor (P2Bi) announced it has formed a new partnership with MW Eaglewood Americas LLC, an SEC-registered investment adviser.
P2Binvestor is a commercial lending platform for SMEs that states it offers a better (IE lower rates) line of credit for borrowers. The marketplace lending platform claims to be able to deliver $5 million in factoring finance in as few as five business days. Businesses must have a bit of a track record to use the platform. SMEs that have been in business for over 1 year and have $500,000 plus in revenue may qualify.
P2Bi stated it is among a class of marketplace lenders focused on addressing a serious problem for growing small businesses–the gap in access to fast, efficient and affordable capital–by combining technology with a crowd model. Krista Morgan, CEO and co-founder of P2Bi, stated:
“We are excited to finalize a relationship with one of the top funds in the marketplace lending space. This partnership greatly increases the liquidity of our marketplace and enhances our ability to lend to new high-growth borrowers.”
Last month, P2Bi announced it has received $5 million as part of a larger $50 funding round. This is according to a report in the Denver focused publication BusinessDen. The funding was also revealed in a recent filing with the SEC. Morgan noted that her platform now has 100 accredited investors, in addition to the institutional money, and 50 active borrowers. The report states that P2Binvestor maintains the ability to loan up to $100 million.