HCG is latest asset management firm to make P2Binvestor a preferred marketplace lending platform
DENVER, CO – October 6, 2015 – 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).
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.
Erin Bassity, VP Marketing