April showers bring... new deals! How we crushed our busiest sales month yet, made plans to move out of our beloved sardine can, and more...
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April showers bring ... new deals! We've just crushed a super busy month of sales. We’ve been ringing our deal gongquite a bit as a result and are projecting to surpass our record of most deals closed in a single month. With such a healthy pipeline, we're looking forward to welcoming a ton of new borrowers in May as well. In April we also announced a new relationship with one of the big funds in our space which means we have significantly more capital to lend to our borrowers, launched our curated weekly email, and were voted the (unofficial) best booth at LendIt thanks to our provocative campaign slogan and a plethora of trucker hats (more below). Want to help us connect awesome businesses with the cash they need to grow? You can earn big bucks and other perks by sending referrals our way, just send a note to Kim at firstname.lastname@example.org to learn more.
Quick company update: We will hire employee #27 shortly, have funded over $150 million to clients since the middle of 2014, and our average line of credit is around $750,000. We've served over 60 amazing businesses with a flexible line of credit that has helped them scale quickly. For more quick tidbits, see the stats on our About Us page.
Small business bootcamp webinar series: Natural Foods & Products (Part 2) and Small Business Accounting 101
Where is Krista?
Meet our team: Liz Lindow
Movin’ on up to the… well, still on the east side, sort of... We are now 26-going-on-27 people crammed together in our original startup office with a grand-total footprint of 1,777 square feet. Yes, you read that correctly, 1,777 square feet. While we very much enjoy our cozy workspace and open, collaborative environment, it’s time to move out of our beloved sardine can. Luckily, we’ll stay in Capitol Hill, a neighborhood just barely southeast of downtown Denver for you out-of-towners, but we’re moving to a much larger space. Ironically, the new offices were once a bank, complete with a working vault. We plan to have lots of fun and educational events once we get settled, the first of which will be an open house so we can show you around the new digs—including the vault! Stay tuned for more moving news.
Small business bootcamp webinar series Natural Foods & Products Series: Sales and Marketing Strategies for Natural Products Brands On Friday, May 13, at 11 a.m. (MDT) we’ll be chatting with Bill Capsalis of Naturally Boulder and Victoria Hartman of Alliance Sales and Marketing. Bill and Victoria are 25+ year veterans of the natural foods and products industry. In part two of this series, they’ll share their insights and advice for natural products and food entrepreneurs. Participants will learn about effective sales and marketing channel strategies, the importance of margin, strategies to gain traction, and more. If your sales strategy is focused on your success at one large natural retailer or if you need general information about how to scale your business, this informative webinar will help you understand the benefits of a multifaceted approach. Click here to register. If you missed the first webinar in this series in which we discuss the various players in the natural products ecosystem, get caught up by watching it here.
Small Business Accounting 101 On Friday, May 22, we’re bringing in small business accounting expert Drew Lyon to go over some accounting basics for the entrepreneur who wears many hats or for the budding entrepreneur who doesn’t know where to start with the basics. As always, P2Bi CEO and cofounder Krista Morgan will moderate and likely throw Drew a few great curve balls, so even seasoned business owners and finance pros will learn a thing or two. Register now! Don’t forget, we record every webinar and send it out afterward, so you can register even if you’re busy that day and we’ll still send you the video and slides.
Where is Krista? Krista’s been busy closing a fundraising round, but this month she made time to head out to LendIt, the premier marketplace lending conference. LendIt took place in San Francisco on April 11-12, and our team had a chance to meet with thought leaders in the industry, hear the latest news about all of the other platforms, and watch Krista on an entertaining panel about innovation in invoice finance. We turned quite a few heads with our awesome “We’d Like to Fund Your Brains Out” booth, schwag, and campaign. Overall, the event took on a different tone than it has in years past. Many online lenders are struggling with higher portfolio default rates and other issues, and thus many sessions focused on how important underwriting is to lending operations for nearly every platform.
Krista's talk from Natural Products Expo West in March was recorded and released recently. She presented a great slide deck and spoke about the business funding lifecycle and the kinds of choices entrepreneurs can make along the way. Check it out here and feel free to share with your network.
On May 20, we are sending Krista to New Jersey to speak at Propellerfest, where the innovators of the Northeast gather. Propellerfest takes place in Hoboken, NJ, so if you’ll be in the area, join Krista there and let her know you’re planning to go!
Meet our team: Liz Lindow, Client Success Manager Liz recently joined the ranks at P2Bi as our new client success manager. She came to us after working in Uganda for 14 months as the director of the Women’s Entrepreneurship Initiative with an impact investor called Mango Fund. Her passion for helping business owners grow and be successful makes her the perfect fit for our team and a great resource for our clients. She loves her new role as the first line of communication for our customers and is working hard to help them all become cash-flow ninjas. Off the clock, you’ll find Liz enjoying the great outdoors, practicing yoga, and planning her next fun class/learning experience. She says she loves working at P2Bi because of our passion for helping entrepreneurs survive the growth stage, our infamous Friday happy hours—we’re serious about speed scrabble, and our fun team-building days. Fun fact: Liz is technically a native of Colorado as she was born while her parents were passing through the state on a road trip.
A reminder that under U.S. law we can only accept investments from accredited investors at this time.
Eventually, we would like to open the platform to all investors, but that will be subject to rule changes implemented by the Securities and Exchange Commission (SEC). Stay on our list to be the first to know when the rules change.