Ronco®, An American Entrepreneurial Success Story, Taps the Power of P2Binvestor to Accelerate Distribution of Products for Summer Season
Ronco able to quickly scale business and meet financial goals with crowdsourced working capital from P2Binvestor
Jun 30, 2015, 11:37 ET
DENVER, June 30, 2015 /PRNewswire/ -- P2Binvestor (p2bi.com), the leading crowdlending platform providing asset-based financing to the fastest-growing businesses in the United States, today announced it will provide ongoing working capital to Ronco Holdings, Inc. (ronco.com), a trusted resource for foodies and at-home chefs worldwide, as the organization looks to scale its business to meet growing customer demand. Ronco is the latest worldwide brand to seek the expertise of P2Binvestor (P2Bi), which provides working capital financing to help companies increase productivity and profitability.
"P2Bi is truly reshaping the working capital landscape for businesses like ours that need greater access to capital," said Bill Moore, president of Ronco Holdings, Inc. "As the nature of business evolves, so too must financing. The traditional way of securing capital from banks is no longer working for companies of our size seeking to accelerate growth. P2Bi fills a unique niche as a financial intermediary by allowing middle-market companies to have unrestricted access to investors around the world interested in supporting companies like Ronco. Our experience with the P2Bi process was one of intelligent underwriting and rapid movement from commitment to funding. As a result, Ronco has been able to address new market demand for our products—especially during seasonal fluctuations," stated Moore.
Ronco is an iconic brand with more than 40 years of experience in creating innovative kitchen appliances and accessories such as countertop rotisserie ovens and vertical grills, food dehydrators, pasta makers, juicers, chopping gadgets and other products that reduce the amount of time spent in the kitchen so that families can share healthy, delicious meals together. With P2Bi's financing in place, Ronco's universally recognized product line will continue to bring consumers the very latest in culinary excellence—not only through its products, but also by offering practical and healthy cooking tips, techniques and advice along the way.
P2Bi's crowdsourced funding model reduces its effective cost of capital, creating room for more flexible rates and terms for its clients. A crowd of accredited investors participates in funding each credit line, and investors earn a return on the platform in exchange for supporting each funded business.
"The line of credit we extended to Ronco speaks to our competitive advantage and ability to underwrite and fund larger deals to benefit a wider swath of growing U.S. companies," said Krista Morgan, CEO of P2Bi. "Our underwriting technology, team, and crowd model allow us to operate efficiently and syndicate risk to many investors so we can serve great companies like Ronco with a flexible credit product."
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P2Binvestor (P2Bi) is a crowdlending platform for working capital. P2Bi simplifies lending through technology and provides efficient and competitively priced working capital to growing small and medium sized businesses. P2Bi's clients sell products and services to brands like Amazon.com, Whole Foods, Costco, Whole Foods, REI and other major retailers, universities and organizations across the United States. P2Bi's investor crowd is limited to accredited investor participation. You can find P2Bi online at @P2Binvestor or at P2Bi.com.
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