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     105  0 Kommentare KeyBank Provides $20 Million Line of Credit for the Advancement of Small Business With Lendistry

    CLEVELAND, OH / ACCESSWIRE / June 2, 2023 / Lendistry Core SPV I, LLC a newly formed Special Purpose Entity (SPE) established by B.S.D. Capital, Inc. dba Lendistry (Lendistry) to purchase eligible loans originated and sold by Lendistry, has obtained …

    CLEVELAND, OH / ACCESSWIRE / June 2, 2023 / Lendistry Core SPV I, LLC a newly formed Special Purpose Entity (SPE) established by B.S.D. Capital, Inc. dba Lendistry (Lendistry) to purchase eligible loans originated and sold by Lendistry, has obtained $20 million line of credit (LOC) from KeyBank Community Development Financial Institutions (CDFI) Group.

    Lendistry offers small business owners who do not meet traditional lending standards with respect to credit, cash flow, or collateral requirements, a chance to access responsible, affordable capital. The company is headquartered in an Opportunity Zone in downtown Los Angeles.

    As a certified Community Development Financial Institution, Lendistry provides credit and other financial services to small businesses throughout the U.S. To minimize risk and help overcome common shortfalls that cause underserved business owners to struggle to access traditional financing, the company participates in several loan guarantee programs and credit enhancements, including State Small Business Credit Initiative (SSBCI) programs.

    Everett K. Sands, CEO and founder of Lendistry, has leveraged his more than 20 years of experience in banking to change the game for traditionally underserved small business owners who need access to responsible capital to reach the next level.

    "We're grateful for KeyBank's support as we work to eradicate the word ‘underserved,'" says Everett K. Sands, CEO of Lendistry. "KeyBank's leadership recognized in us a CDFI partner that shares an intentional desire to deploy capital equitably to entrepreneurs who need it most. Their commitment will increase our impact in small business communities, including those that have lacked access to the responsible funds they need and deserve."

    "Lendistry plays an important role in delivering small business capital from coast to coast. We are excited to use our capital to promote small businesses growth and expansion in marginalized communities," said Brian Maddox, National Team Leader for KeyBank Community Development Financial Institutions group. "Our $20 million investment is part of the bank's commitment to increase access to capital and bring greater equity for marginalized communities."

    About Lendistry

    B.S.D. Capital, Inc. dba Lendistry (lendistry.com) is a minority-led fintech that provides innovative lending products and access to grant programs for small businesses nationwide. Headquartered in a Los Angeles Opportunity Zone, Lendistry uses technology and community partnerships to overcome systemic gaps that inhibit access to capital, and to empower its customers with responsible financing options. Based on its reputation for deploying funds efficiently and equitably, Lendistry's leadership is often called upon to share their expertise with both government and private organizations. Lendistry has both Community Development Financial Institution (CDFI) and Community Development Entity (CDE) certifications and is a member of the Federal Home Loan Bank of San Francisco. Lendistry SBLC, LLC is the nation's only African American-led SBA designated Small Business Lending Company. In collaboration with The Center by Lendistry, a nonprofit business education organization, Lendistry dedicates itself to providing economic opportunities and progressive growth for underserved urban and rural small business borrowers and their communities.

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    KeyBank Provides $20 Million Line of Credit for the Advancement of Small Business With Lendistry CLEVELAND, OH / ACCESSWIRE / June 2, 2023 / Lendistry Core SPV I, LLC a newly formed Special Purpose Entity (SPE) established by B.S.D. Capital, Inc. dba Lendistry (Lendistry) to purchase eligible loans originated and sold by Lendistry, has obtained …