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DENVER, Sept. 01, 2022 (GLOBE NEWSWIRE) — Lendistry, a progressive small business and fintech lender, today announced it is offering financing through the Colorado Startup Loan Fund statewide. The loans are intended to provide growing businesses with affordable working capital. While many organizations offer these loans on a regional basis, Lendistry will open its program with term loans of $50,000 to $150,000 to businesses across Colorado.
The Colorado Startup Loan Fund is an SSBCI program supported by the Colorado Office of Economic Development and International Trade (“OEDIT”). To qualify for a loan under this program, applicants must complete a business development program with the Small Business Development Centers (“SBDCs”).
“Small businesses are still feeling the effects of the pandemic and need lenders who are willing to give them a fair chance,” said Everett K. Sands, CEO of Lendistry. “Responsible financing is hard to come by for businesses just starting out, especially in historically underserved and undercapitalized communities. Lendistry is proud to offer Colorado’s next generation of small business owners a pathway to build their credit and support long-term growth.”
Early in the pandemic, Lendistry advocated offering Paycheck Protection Program (“PPP”) loans in all 50 states, providing more than $20.7 million in forgivable loans in Colorado. Earlier this year, Lendistry began offering working capital injections at below-market rates through the CLIMBER program.
Business owners can visit www.lendistry.com/colorado-startup-loan to learn more about the Colorado Startup Loan Fund program and apply.
About Lendistry
BSD Capital, Inc. dba Lendistry (lendistry.com) is a minority-led, technology-driven small business and commercial real estate lender with Community Development Financial Institution (CDFI) and Community Development Entity (CDE) certification. Lendistry is a member of the Federal Home Loan Bank of San Francisco, headquartered in an opportunity area of Los Angeles. During the COVID-19 pandemic, Lendistry provided Paycheck Protection Program (PPP) loans to small businesses in all 50 states, becoming the nation’s 8th largest PPP lender in 2021. Lendistry was selected by the states of California, Pennsylvania and New York. to administer their Small Business Relief Programs, which distributed grants to businesses that lost significant revenue during the pandemic. As a former SBA Community Advantage lender in California, Lendistry was historically one of the best SBA Community Advantage lenders in the country, providing responsible financing to small business owners who needed responsible capital to grow. Lendistry and its partner nonprofit organization, The Center by Lendistry, are dedicated to providing economic opportunity and incremental growth to underserved urban and rural small businesses and their communities. In 2022, Lendistry SBLC, LLC, a subsidiary of BSD Capital, Inc., became the only SBA-designated small business lending company run by African Americans.
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Source: Lendistry
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