DENVER, Sept. 20, 2016 /PRNewswire/ -- P2Binvestor (P2Bi), a leading marketplace lender for asset-based working capital, today announced the close of a $10 million credit facility with Urban Settlement Solutions, LLC (DBA Urban Lending Solutions), a company established by CEO Charles Sanders in 2002. This facility does not include any equity, warrants, or convertible features.
"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. "We are thrilled that we were able to quickly close and fund a client of the caliber of Urban Lending Solutions."
Urban Lending Solutions and its affiliates are leaders in providing outsourced services to the mortgage industry including mortgage fulfillment, loss mitigation and valuation services. The company has been ranked in the top 20 of Black Enterprise Magazine's BE 100s: The Nation's Largest Black Businesses for the last three years.
"Urban Lending Solutions needed a partner that believed in its business model and opportunities for continued profitable growth," said Charles Sanders, CEO of Urban Lending Solutions, "and we are quite pleased to find and work with a lending partner that understands us and is as nimble, timely, creative and effective in meeting our needs as we are with our customers."
P2Bi is a tech-enabled marketplace lender that provides asset-backed lines of credit of up to $10 million per B2B borrower. With an average line of credit size of $1 million, P2Bi has provided more than $300 million to its borrowers since early 2014. Accredited investors participate in funding each line of credit and earn a return through P2Bi's proprietary investment platform.
P2Binvestor (P2Bi) is a marketplace lender that provides revolving lines of credit of up to $10 million per B2B borrower. Borrowers must be U.S.-based and typically operate in technology manufacturing, natural foods and other consumer packaged goods, general manufacturing, media agencies and other kinds of B2B services, personnel firms, and more. Accredited investors participate in funding each line of credit and earn a return through P2Bi's proprietary investment platform. Learn more at P2Bi.com and follow on Twitter @P2Binvestor.
Erin Bassity, VP Marketing
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/marketplace-lender-p2binvestor-provides-10mm-asset-backed-credit-facility-to-urban-lending-solutions-300330564.html