Lendistry Ends Year as a Top Ranked SBA Lender
LOS ANGELES, February 5, 2019 (Newswire.com) - When Stacia Guzzo’s mother was diagnosed with breast cancer, doctors believed environmental factors were the likely cause. In 2014, Ms. Guzzo created an effective aluminum-free deodorant in her kitchen and launched SmartyPits as an alternative to potentially carcinogenic products. Available in over 900 stores nationwide, SmartyPits donates $0.30 for every stick of deodorant sold to breast cancer research and survivor support events and supplies free deodorant to oncology centers.
SmartyPits is just one of 92 small businesses Lendistry proudly funded in 2018 through the SBA’s Community Advantage program. In their first full fiscal year as an SBA lender, Lendistry provided a total of $17,540,700 to small businesses throughout California, ranking 2nd among national Community Advantage lenders for the year in dollar volume.
“Small businesses in so many ways don’t often have the resources that are available to bigger companies, and it forces them to stay small,” Ms. Guzzo said. “Lendistry believed in us the way that we believed in us.”
Lendistry is proud to provide affordable SBA loans to their clients as a resource to help them grow and dream bigger. In addition to SBA, Lendistry also provides traditional term loans, lines of credit, and commercial real estate loans. For those that qualify, SBA is a preferred product for its low-interest rates and longer terms.
“Our goal is to provide small businesses with the financing necessary to either start a new business or grow an existing business. With the support of the SBA, Lendistry has been able to assist these small businesses and make their dreams a reality,” said Lynn Fernandez, Lendistry’s Chief Credit Officer. “We look forward to helping even more small businesses in 2019.”
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 is a member of the Federal Home Loan Bank of San Francisco and ranks 2nd in the nation among SBA Community Advantage lenders. Lendistry also offers unique opportunities for banks to help fulfill Community Development Lending, CRA Investment, and Small Business Lending Test goals. For more information, please visit Lendistry.com.