About Lendistry
Lendistry is a minority-owned and technology-enabled Community Development Financial Institution (CDFI) dedicated to providing economic opportunities and progressive growth for underserved urban and rural small business borrowers and their communities.
Lendistry also offers business coaching, financial education, and technical assistance through its nonprofit partner organization, The Center.
Lendistry ranks second nationwide in SBA Community Advantage lending, a pilot program spearheaded in 2011 to increase SBA-guaranteed loans to small businesses in underserved areas. With both CDFI and CDE certifications, Lendistry lends through a variety of federal programs, like Community Advantage, to deliver affordable, responsible funds to businesses in underserved and low-income areas.
Demonstrated by its reach, technology, and operational and capital capacity, Lendistry has both the ability and interest to serve a much broader market and fill the lending gaps where mainstream finance doesn’t reach. Lendistry looks forward to working with Congress, the SBA and the CDFI Fund to fulfill the potential of helping even more American small businesses and local economies.
Lendistry and COVID-19 Response to Small Business Recovery
In response to the COVID-19 crisis, Lendistry has stepped up to provide desperately needed capital to small businesses struggling amid the pandemic, both as a lender and as an administrator of state and local grant programs made possibly by the Coronavirus Relief Fund under the CARES Act.
Despite a rapidly changing environment and the challenge of implementing an unprecedented program with frequently evolving rules, Lendistry harnessed the power of its technology and its team to quickly expand its service area from one state to 12 states, and processed and approved over $180 million in Paycheck Protection Program (PPP) loans to more than 3,500 small businesses.