Monday June 30, 2014 0 comments
DENVER - P2Binvestor, a Denver-based crowdfunding platform that offers businesses a middle path between bank financing and expensive subprime lending, announced it 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 universities; Energy Inspection Services, a Parker-based provider of integrated field services to oil-and-gas companies; and Bhakti Chai, a Boulder-based maker of natural chai beverages.
P2Bi said it invested more than $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," said Jeff Larsen, CEO of In The Telling. "This line of credit allows us to aggressively develop new projects without compromising quality."
P2Bi said it is combining crowdfunding and technology to simplify the lending process to make growth capital easier to obtain and reduce the effective cost of capital to its clients.
P2Bi began funding companies in January of this year.
"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, co-founder and CEO of p2Bi.
"Even good companies may not qualify for bank financing. We have products to help you grow to the point where you are bankable."