DENVER, Oct. 6, 2015 /PRNewswire/ -- P2Binvestor
(P2Bi.com), a leading marketplace lender for asset-backed working
capital, today announced a new relationship with HCG Fund
Management LP, a North
Carolina-based alternative asset management firm. This
partnership marks the first of several new institutional
relationships for P2Binvestor.
"HCG really pushed the envelope on diligence with us," said
Krista Morgan, CEO and cofounder of
P2Binvestor. "What resulted is a stronger legal and operational
infrastructure that improves our overall investment offering and
makes it easier for us to work with other funds."
P2Binvestor spent the last few months in the due diligence
process with HCG—retooling its investment product offering to
address numerous matters such as the complicated tax requirements
of foreign-domiciled funds. The result is a new agreement that
governs investment activity for all accredited investors who use
the P2Binvestor platform and improves the company's ability to
accommodate larger funds.
HCG, like many other peer-to-peer (P2P) funds, is interested in
investing in loans originated by a new class of marketplace lending
platforms that combine technology with a crowdsourcing model to
improve access to capital for growing businesses. HCG was attracted
to P2Binvestor because of the company's rigorous and systematic
underwriting efforts, the performance of its lending portfolio over
the past 18 months and the P2Binvestor team.
"After an intensive due diligence process, we determined
P2Binvestor is a good fit for our portfolio," said Jose Penabad, cofounder and partner of HCG. "We
came away from our work impressed with P2Binvestor's ability to
both underwrite and service large credits. From an investment
standpoint, we liked that the investment is asset-backed with short
duration, attractive yields and broad risk diversification."
HCG plans to make P2Binvestor one of their preferred marketplace
lenders and is pleased to partner with a company that serves a
significant gap in the market by providing larger, revolving lines
of credit to growing small and medium-sized businesses (SMBs).
Share This: #Marketplace lender @P2Binvestor p2bi.com announces
institutional deal with HCG Fund Management
http://bit.ly/1hobvhb
About P2Binvestor
P2Binvestor (P2Bi) is a marketplace lender that provides
asset-backed working capital to growing small and medium-sized
businesses through a crowdfunding model. P2Bi is one of the few
online commercial lenders that can underwrite and fund
million-dollar lines of credit in a few days. Lines of credit are
secured by receivables, inventory, or monthly recurring revenue.
P2Bi's clients sell products and services to brands like
Amazon.com, Whole Foods, Costco, REI and other major retailers as
well as universities, corporations and organizations across
the United States. Participation
in P2Bi's investor crowd is limited to accredited investors who
have a relationship with the company. P2Bi.com.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/marketplace-lender-p2binvestor-announces-institutional-investment-relationship-with-hcg-fund-management-lp-300154964.html
SOURCE P2Binvestor