Black LA firm Lendistry selected by California to Disburse $500 million in COVID Relief Funds

[Photo: Everett K. Sands, Lendistry Founder and CEO via Lendistry.com]

The state of California has selected Lendistry, a Black-led-and-operated financial firm in Los Angeles, to administer the disbursement of $500 million in COVID-19 grants to California small businesses and non-profits.

The California Office of The Small Business Advocate (CalOSBA) has stated that small businesses and non-profit organizations across California which have been affected by the COVID-19 pandemic can begin submitting applications for relief grants ranging from $5,000 to $25,000 from now until Jan. 8, 2021 at careliefgrant.com.

To quote from the San Francisco Bay View:

“As an organization dedicated to efficiently providing capital to underserved small businesses, and with a deeply experienced senior management team that mirrors the diversity of our home state of California, Lendistry is proud to partner with the CalOSBA in this bold and critical effort,” said Everett K. Sands, Lendistry’s founder and CEO.

Sands, who has broad experience in small business and commercial lending, says since the onset of the COVID-19 pandemic, Lendistry has assisted over 19,000 small businesses in a dozen states. The organization has also deployed nearly a half-billion dollars in capital.

“We are bringing the full force of our technology, expertise and relationships with partner CDFIs and community organizations to bear on CalOSBA’s landmark commitment to California’s small businesses,” he said.

CalOSBA plans to announce a second window for accepting applications to ensure the process is inclusive for disadvantaged minority firms.

The criteria for selecting beneficiaries can be viewed here. Among the prioritized recipients are small businesses and organizations that are “mission lenders” or are operated by – or that direct their services to – underserved groups, including women, minorities, rural populations, among others.

To get more information on eligibility or to apply, go to careliefgrant.com.