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P2Binvestor, Leading Marketplace Lending Platform, Launches First-of-Its Kind Bank Partnership Program with New Resource Bank


DENVER, Oct. 12, 2017 /PRNewswire/ -- P2Binvestor (P2Bi), a leading marketplace lending platform that offers crowdsourced, asset-secured lines of credit to growing companies with big ambitions, announced today the launch of a bank partnership program. The program gives growing businesses an innovative way to quickly access capital while allowing banks to increase their addressable market and improve their conversion rates. To kick off, P2Bi teamed up with New Resource Bank, a triple-bottom-line bank serving values-driven businesses and nonprofits that are building a more sustainable world.

"Businesses want access to affordable bank financing and banks want to lend to growing businesses, but the two sides haven't been able to connect due to regulatory and technology hurdles," said Krista Morgan, CEO of P2Binvestor. "Until now, there hasn't been a solution like this, which unfortunately has forced growing companies to take on expensive and time consuming funding. With this partnership program, we're changing that. We're enabling banks to lend to businesses they otherwise wouldn't be able to due to strict lending standards. P2Binvestor is excited to be powering New Resource Bank's line of credit with both our marketplace and proprietary receivables lending platform."

This unique bank-Fintech partnership allows community banks to leverage P2Bi's receivables lending platform and marketplace to quickly deliver multi-million dollar lines of credit to growing small-to-medium businesses. It will help businesses build a lending relationship with banks at an earlier stage in their lifecycle and provide them access to a much lower interest rate than they would with a traditional alternative lender. Banks will provide 50 percent of the capital with a senior secured position and P2Bi's marketplace of private investors will provide the rest of the capital, resulting in a blended interest rate of 8 to 12 percent and all the capital they need.

The initial roll-out with New Resource Bank will open up a new vehicle for capital to small companies in an initial stage of growth who might not otherwise have access to the funding needed to initiate operations ? an area that many young, mission-aligned companies struggle with. With this product, companies lacking a significant transactional history can gain access to capital.

"We are pleased to be partnering with P2Bi to create this innovative product?it's a win-win for us and businesses," said Vincent Siciliano, president and CEO of New Resource Bank. "By using P2Bi's platform, growing businesses will be able to secure capital that they typically wouldn't be able to access through bank lending alone. This allows us to offer a greater suite of lending products to the community of sustainable businesses we serve."

For more information about P2Binvestor, please visit https://www.p2bi.com/ and for more New Resource Bank, please visit https://www.newresourcebank.com/.

About P2Binvestor:     
P2Binvestor (P2Bi) is a Denver-based crowd lending platform for working capital that offers businesses a middle path between hard-to-get bank financing and expensive subprime lending. Through technology and with a crowd of accredited investors, P2Bi simplifies lending and provides efficient, competitively priced growth capital to small and medium businesses.

About New Resource Bank: 
New Resource Bank is a triple-bottom-line bank serving values-driven businesses and nonprofits that are building a more sustainable world. We see money as an agent of positive social, environmental and economic change. We use banking to transform the economy into one that serves all people and the planet. We lend to organizations that benefit our communities and protect our planet by putting deposits to work for good.

SOURCE P2Binvestor


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