Lendistry supporting new Colorado start-up loan lenders

The progressive fintech lender that helped bring PPP and CLIMBER to underserved small businesses in Colorado is now offering OEDIT-backed startup loans up to $150,000 across the state.

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DENVER, Sept. 01, 2022 (GLOBE NEWSWIRE) — Lendistry, a progressive small business lender and fintech, today announced that it is offering financing under the Colorado Startup Loan Fund across the state. The loans are intended to provide growing companies with reasonable working capital. While many organizations offer these loans on a regional basis, Lendistry will open the 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 be eligible for a loan under this program, applicants must complete a business development program with Small Business Development Centers (“SBDC”).

“Small businesses are still feeling the effects of the pandemic and need lenders willing to give them a fair shot,” said Everett K. Sands, CEO of Lendistry. “Responsible financing is hard to come by for early-stage businesses, especially in historically underserved and undercapitalized communities. Lendistry is proud to offer Colorado’s new generation of small business owners a path to build credit and support long-term growth.”

In the early days of the pandemic, Lendistry advocated for Paycheck Protection Program (“PPP”) loans in all 50 states, providing over $20.7 million in forgivable loans in Colorado. Earlier this year, Lendistry began offering the supply of working capital at below market rates through the CLIMBER programme.

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 and technology-enabled 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 a Los Angeles Opportunity Zone. During the COVID-19 pandemic, Lendistry made Paycheck Protection Program (PPP) loans to small businesses in all 50 states, becoming the #8 PPP lender in the country in 2021. Lendistry was chosen by the states of California, Pennsylvania and New York to administer their assistance programs for small businesses, which distributed grants to businesses that lost significant income during the pandemic. As a former SBA Community Advantage lender in California, Lendistry was historically one of the top-rated lenders in that program in the country, providing responsible financing to small business owners who needed responsible capital to grow. Lendistry and its nonprofit partner organization, The Center by Lendistry, are dedicated to providing economic opportunity and progressive growth for underserved urban and rural small businesses and their communities. In 2022, Lendistry SBLC, LLC, a subsidiary of BSD Capital, Inc., became the nation’s only African-American-led SBA-designated Small Business Lending Company.

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