Royal Business Bank Invests $500K in Lendistry Loan Fund, Providing Opportunity for Small Businesses in Underserved Communities
BREA, Calif., December 12, 2017 (Newswire.com) - Royal Business Bank, a wholly-owned subsidiary of RBB Bancorp, has made a $500K commitment to the Lendistry CRA Loan Fund I. Launched at a time when most banks were struggling, Royal Business Bank has been successfully serving the Asian-American community since 2008. While specializing in businesses engaging in trade with Pacific Rim countries, the bank also offers small business loans and residential mortgages.
"We're thrilled to partner with Royal Business Bank. Their investment will help us provide affordable funding to more businesses in historically underserved communities," says Everett K. Sands, CEO of Lendistry, a small business lender. "Lenders that serve the unique needs of business owners in niche markets play a vital role in the stability of local economies."
Partnering with banks has proven to be a win-win for Lendistry, which has received $4MM from its banking partners this year alone. For many banks, small dollar loans are cost prohibitive. Partnerships allow the online lender to provide more capital to small businesses while providing a pathway for banks to better serve their communities.
Lendistry offers SBA, Short-Term, and Traditional term loans and an easy online application. Learn more about Lendistry's loan products by visiting Lendistry.com/our-loans.
Royal Business Bank has 14 locations throughout Southern California and one branch in Las Vegas. Learn more about Royal Business Bank by visiting their website https://www.royalbusinessbankusa.com.