Lendistry is a minority-led fintech company that provides business loans, SBA loans, and commercial real estate loans to small business owners, utilizing an online application process that does not impact credit scores. The company addresses the challenge of limited access to capital for underserved businesses by offering loan amounts starting at $25,000 with terms up to 10 years, while also administering government and private grant programs.
Funding
$5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Small businesses, particularly those led by minorities, often face significant hurdles in accessing the capital needed for growth and operations due to traditional lending practices and limited credit history. This lack of access can hinder their ability to purchase inventory, expand locations, and manage day-to-day expenses.
Solution
Lendistry provides an online lending platform designed to increase access to capital for underserved small business owners. The company offers a range of financing options, including business loans, SBA loans, and commercial real estate loans, with loan amounts starting at $25,000 and terms extending up to 10 years. Lendistry utilizes a streamlined online application process that does not impact credit scores, making it easier for businesses to apply. In addition to loan products, Lendistry administers government and private grant programs, further supporting small business growth and development. By combining financial solutions with grant opportunities, Lendistry aims to provide equitable access to capital and resources for small businesses.
Target Audience
Lendistry primarily serves small business owners, with a focus on minority-led and underserved businesses seeking capital for various purposes, including operational expenses, expansion, and real estate acquisition.
Features
- Online application process that does not impact credit scores
- Loan amounts starting at $25,000
- Loan terms up to 10 years
- SBA 7(a) loan options
- Term loan options
- Commercial real estate loan products
- Administration of government and private grant programs