Denver-based Marketplace Lender P2Bi Secures $10 Million Credit Facility
Denver-based marketplace lender P2BInvestor (P2Bi) closed a $10 million credit facility with Pittsburgh-based mortgage service company Urban Settlement Solutions.
Founded in 2012, P2Bi provides revolving lines of credit of up to $10 million to businesses. With an average line of $1 million, the company’s customers include businesses in retail, manufacturing and consumer goods packaging. They have originated $300 million since 2014. “Partnering with Urban Lending Solutions proves our ability to fund large facilities to established businesses through our marketplace model,” said Krista Morgan, CEO and cofounder of P2Bi in a statement.
This investment follows a round of $50 million funding the company raised in March this year.Last modified: September 20, 2016