Lendistry, a minority-led and technology-enabled small business and commercial real estate lender with Community Development Financial Institution (CDFI) and Community Development Entity (CDE) certification, announced today the closing of a private placement (the "Offering") of $85 million aggregate principal amount of unsecured Fixed to Floating Rate Senior Notes due 2027 (the "Notes"). The Notes received an investment grade "A" rating from Egan Jones and will mature on Oct. 31, 2027, unless earlier redeemed at Lendistry's option after two years.

Investors in the Notes include 25 socially responsible banks, insurance companies and ESG-focused institutions, including those looking to make impactful and socially responsible investments that elevate small business owners and underserved businesses.    

Since its inception in 2015, Lendistry has deployed nearly $9 billion in loans and grants to approximately 600,000 small businesses supporting approximately 2 million jobs. Lendistry serves as an administrator of billions of dollars in grant and loan funds for federal, state and local governments and is the parent entity to the country's only African American-led, SBA-designated Small Business Lending Company.  

Everett Sands, Lendistry's CEO, stated, "We couldn't be more excited to announce this unique round of funding for Lendistry, which provides cost-efficient capital that will amplify our platform in providing access to capital to underserved small businesses and their communities at responsible rates and terms. The entrepreneurial spirit is strongest in the small business community, and especially many underserved markets that we are proud to support." Mr. Sands further commented, "As our first institutionally led capital raise, we are elated with the amount of participation and its execution, which exemplifies Lendistry's scarcity value in our ability to raise attractive capital, at size, despite a difficult capital markets backdrop. We thank our new partners for their participation as Lendistry continues to elevate its network to reach more underbanked businesses across the United States."

Performance Trust Capital Partners served as the exclusive financial advisor to Lendistry and the sole placement agent in the Offering. Honigman, LLP served as Lendistry's legal counsel in the Offering. Luse Gorman, PC served as legal counsel to Performance Trust.