Lendistry announced today that it has been approved for membership by the Federal Home Loan Bank of San Francisco. The technology-enabled small business lender will leverage the bank to offer affordable commercial real estate financing with a focus on serving those in historically underbanked communities.
“It’s an honor to be a member of the Federal Home Loan Bank of San Francisco, an organization committed to community development by expanding availability of credit,” Everett K. Sands, Lendistry’s CEO, said. “We look forward to leveraging our unique business model of being a hybrid of a community bank and a fin-tech company to expand access to capital to all.”
“We are very pleased to welcome Lendistry as a new member,” said Greg Seibly, President and CEO of the Federal Home Loan Bank of San Francisco. “Fostering community economic development is a crucial part of our mission. Lendistry is committed to helping small businesses, which play a critical role in creating new jobs, growing local economies, and strengthening communities across our nation.”
Providing affordable real estate financing is a natural next step for Lendistry, as the company aims to provide a full array of solutions for small business owners. For many business owners, leasing space is a less risky, shorter-term commitment. But for those positioned for long-term sustainable growth, commercial property ownership provides stability and creates wealth.
“By offering our clients a full suite of commercial lending products, we can help every business in every stage of development from a start-up opening its doors to a corporation buying its first property,” Lendistry CEO, Everett K. Sands said.
Lendistry is a CDFI, led by community and national bankers, that provides affordable small business and commercial real estate loans headquartered in Southern California with a mission to provide economic opportunities and progressive growth for small business owners and their underserved communities. Lendistry ranks 2nd in the nation among SBA Community Advantage lenders and was awarded Top Lender in its district in May 2018. Lendistry also offers unique opportunities to banks to help fulfill Community Development Lending, CRA Investment and Small Business Lending Test goals. For more information, please visit Lendistry.com.
About Federal Home Loan Bank of San Francisco
The Federal Home Loan Bank of San Francisco delivers low-cost funding and other services that help member financial institutions make home mortgage loans to people of all income levels and provide credit that supports neighborhoods and communities. The Bank also funds community investment programs that help members create affordable housing and promote community economic development. The Bank’s members are headquartered in Arizona, California, and Nevada and include commercial banks, credit unions, industrial loan companies, savings institutions, insurance companies, and community development financial institutions.