Lendistry becomes No. 1 African American-led SBA 7(a) lender

Lendistry issued SBA 7(a) program participation milestone affecting Small Business Administration on November 9, 2023.

Primary

Lendistry

Counterparty

Small Business Administration

Amount

$57M

Structure

SBA 7(a) program participation milestone

Date

November 9, 2023

Sub-sector

Lending

Fintech achieves leading position in federally-guaranteed small-business lending under SBA's 7(a) program, reflecting regulatory push to increase capital access for minority entrepreneurs.

Primary company

Lendistry

Counterparty

Small Business Administration

Amount

$57M

Event date

November 9, 2023

Sub-sector

Lending

HQ

Not disclosed

Structure

SBA 7(a) program participation milestone

Source published

November 10, 2023

Publisher

American Banker

Source: americanbanker.com