Marking another milestone in their growth, small business lender, Lendistry (www.Lendistry.com) announced today its merger with a private small business loan fund, bringing the organization’s total small business units originated, purchased, and/or syndicated to 9,500 loans totaling $92MM since their launch in 2014. This announcement comes on the heels of the recent appointment of Lynn Fernandez as Chief Credit Officer, who previously served for five years as Vice President of Lending at VEDC.
Lendistry’s merger will enable the successful Orange County based fintech company to expand their team with additional banking veterans to meet the needs of their growing customer base. While Lendistry’s advanced technology sets them apart from other small business lenders, the company credits their highly trained team of banking professionals for their success. Loan approvals, products, and terms, are not just determined by algorithms, but carefully considered by a team led by Chief Credit Officer Lynn Fernandez, who has over 24 years of credit analysis and lending experience at both national and community banks.
“The responsible credit culture promoted by CEO, Everett K. Sands, and embraced by the team, proves strong lending practices aren’t just good for the consumer, it’s a profitable lending model for our investors,” says CCO Lynn Fernandez of Lendistry’s growth.
Business Development Director, Chris Porro echoes her sentiment, “We’re different from other fintech lenders, because we’re able to be creative in our products and services to meet the needs of small business owners in underserved communities with fair lending terms. This merger will allow us to meet the needs of more small business owners, helping them succeed and strengthen their communities.”
Lendistry’s mission is to provide economic opportunities and progressive growth for small business owners and their underserved communities as a source of financing and financial education. Responsible lending for the benefit of both small business owners and investors, is at the core of Lendistry’s culture.
Since 2014, Lendistry has originated, funded and/or syndicated roughly $92MM in transactions, providing the U.S. small business community a range of financial services and products. Lendistry has a flexible, interactive, and unique technology-based underwriting and servicing mechanism geared towards small business transactions between $50,000-$1,000,000, and terms up to 10 years.
Lendistry also has a certification from the Department of Treasury’s Community Development Financial Institution (CDFI) office providing access to a variety of credit enhancement programs. These CDFI programs allow Lendistry to borrow at low rates over extended periods of time, leverage loan guarantees financed by each state within the U.S., and request Community Reinvestment Act investment and lending proceeds from FDIC-insured banking institutions.