Lendistry supports Colorado small business recovery as
Lendistry supports Colorado small business recovery as

LOS ANGELES, March 14, 2022 (GLOBE NEWSWIRE) — Lendistry, the largest minority-led capital deployer in the nation, today announced that it is a statewide lender to the Fund CLIMBER loans (Colorado Loans to Increase Mainstreet Business Economic Recovery) . This program was launched to help qualified small businesses in Colorado access low-cost financing for their working capital. As a nationwide fintech CDFI that has spent the past two years supporting underserved small businesses during the pandemic, Lendistry is an experienced partner for Colorado small business owners who need affordable capital to recover. and continue to serve their communities.

To be eligible for the CLIMBER program, businesses must be for-profit, nonprofit, or sole proprietorship based in Colorado, and must show two years of positive revenue that could sustain their operations before the pandemic began. Qualified applicants must have between 5 and 99 employees, 51% of whom live in Colorado.

CLIMBER loans are intended to provide small businesses with an injection of $30,000 to $500,000 in working capital at below market rates. For an established business going through a hiatus, working capital can cover the costs of inventory, payroll, marketing, utilities, rent, interest payments, upcoming debt repayments, etc. ., while the company regains sustainable revenues. Payments on CLIMBER loans can be deferred for up to a year, giving hard-hit businesses the footing they need to get back on their feet.

“These loans will have a high-quality impact on small businesses that are working hard to get back to normal,” said Lendistry CEO Everett K. Sands. “We are proud to support Colorado’s small business community through this program and beyond.”

Lendistry excels at getting capital where it’s needed most, ranking 8th nationally in the deployment of Paycheck Protection Program loans in 2021. In Colorado, Lendistry has helped more than 1,200 small businesses receive $21 million in repayable PPP loans to help them keep employees on board. The fintech lender is ready and eager to continue providing affordable capital to Colorado businesses.

While many CLIMBER lenders are based in specific counties, Lendistry is a statewide lender for this program. Qualified Colorado business owners can contact the Lendistry team at businesslending@lendistry.com.

About Lendistry

BSD Capital, Inc. dba Lendistry (lendistry.com) is a minority-led, technology-driven 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 an opportunity area of ​​Los Angeles. During the COVID-19 pandemic, Lendistry provided Paycheck Protection Program (PPP) loans to small businesses in all 50 states, becoming the nation’s 8th largest PPP lender in 2021. Lendistry was selected by the states of California, Pennsylvania and New York to administer their Small Business Relief Programs, which distributed grants to businesses that lost significant revenue during the pandemic. As an SBA Community Advantage lender in California, Lendistry has consistently been one of the best SBA Community Advantage lenders in the country, providing responsible financing for small business owners who need responsible capital to grow. Lendistry and its partner nonprofit organization, The Center by Lendistry, are dedicated to providing economic opportunity and incremental growth to underserved urban and rural small businesses and their communities.

Press contacts:

Kate Kearns, Communications Manager

communications@lendistry.com

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