Lendistry Company Profile

Background

Founded in 2015, Lendistry is a minority-led, technology-enabled small business and commercial real estate lender. The company's mission is to provide economic opportunities and foster progressive growth for small business owners and their underserved communities by offering accessible financing and financial education. As a certified Community Development Financial Institution (CDFI) and Community Development Entity (CDE), Lendistry focuses on bridging the financial gap for businesses in low-income or rural areas, as well as those owned by minorities and women. Headquartered in Los Angeles, California, Lendistry has expanded its operations nationwide, including offices in Orange County, Baltimore, and Dallas.

Key Strategic Focus

Lendistry's strategic focus centers on providing responsible and innovative lending solutions to underserved small businesses. The company specializes in offering a range of financing products, including term loans, SBA 7(a) loans, commercial real estate loans, and startup financing. By leveraging technology and community partnerships, Lendistry aims to streamline the lending process, making capital more accessible to businesses that may not qualify through traditional financial institutions. The primary markets targeted include minority-owned businesses, startups, nonprofits, and companies operating in low-income communities.

Financials and Funding

As of January 1, 2025, Lendistry has deployed over $10 billion in small business loans and grants, supporting approximately 640,000 small businesses. In August 2022, the company expanded its operations to Texas with the opening of a Dallas office, facilitated by $5 million in funding provided by Texas Capital Bank. This partnership aims to enhance access to capital for underserved small businesses across the state.

Pipeline Development

Lendistry continually develops and introduces new financial products to meet the evolving needs of small businesses. In 2022, the company launched three new lending products:

Contractor Financing: Provides contractors with access to up to $1 million in non-revolving lines of credit, enabling them to bid on projects with confidence.

Nonprofit Term Loans: Offers loans up to $5 million to growing nonprofits, addressing the unique financing challenges faced by these organizations.

Startup Financing: Provides startups (businesses operating for less than two years) with loans up to $500,000, supporting the growth of new businesses, particularly those owned by women and minorities.

Technological Platform and Innovation

Lendistry differentiates itself through its technology-driven approach to lending. The company utilizes a proprietary online application platform that simplifies the loan application process, enabling faster decision-making and funding compared to traditional lenders. This fintech solution integrates secure bank account verification and identity verification processes, ensuring a streamlined and secure experience for applicants. Additionally, Lendistry employs advanced underwriting technologies to assess creditworthiness, allowing for more flexible credit requirements and accommodating a broader range of small businesses.

Leadership Team

Everett K. Sands, Chief Executive Officer: With over 20 years of experience in banking, Sands founded Lendistry to address the challenges faced by underserved small business owners in accessing capital. He has testified before Congressional committees and appeared as a subject matter expert on national business media. Sands is a graduate of the University of Pennsylvania and serves on the Advisory Board of The Penn Institute for Urban Research.

Drew Collins, Managing Director of Lendistry Home Loans: Bringing over 30 years of experience in the mortgage industry, Collins led the development of Lendistry Home Loans. Previously, he served as SVP, Divisional Sales Manager at LoanDepot and spent 21 years at Wells Fargo Home Mortgage. He holds a BA in Economics from Claremont McKenna College.

Kelly, Chief Credit Officer: Oversees credit practices and quality with 29 years of experience in SBA lending. Prior roles include Managing Director at MUFG Union Bank and Chief Credit Officer at ReadyCap. She earned her Bachelor's degree from the University of California, Irvine.

Joe Kerwin, Chief Marketing Officer: With more than 20 years of marketing experience in financial services, Kerwin oversees marketing, public relations, and communications. He previously held senior positions at Wells Fargo and holds degrees from the University of Tulsa and DePaul University.

Leeann Lynch, Chief Strategy Officer: A founding member of Lendistry's leadership team, Lynch has over 15 years of experience in residential and commercial lending. She ensures strategic alignment across the organization and holds a degree from Temple University's Fox School of Business.

Kanthi Muthiah, Chief Business Officer, Embedded Channels: Leads product development and risk management functions, focusing on partnerships with large e-commerce platforms. Muthiah's experience includes roles at Funding Circle US, FICO, PayPal, and J.P. Morgan Chase. He holds a Ph.D. and M.S. in Industrial Engineering from the University of Cincinnati.

Karthik Ramaswamy, Chief Technology Officer: Oversees technological platforms, with experience as Chief Architect of Digital Platforms at JP Morgan and VP at American Express. He holds an MS in Operations Research from Clemson University.

Wade A. Rugenstein, President of Lendistry Insurance Partners: Brings over 25 years of senior leadership experience in insurance and technology-focused roles, including positions at Horace Mann and NTA Life.

Lynn von Koch-Liebert, Head of Climate, Energy & Infrastructure: Ensures products and programs support small businesses in clean energy and infrastructure sectors. Previously served as Executive Director of the California Strategic Growth Council. She holds multiple advanced degrees, including from Princeton University.

Clark Wen, Chief Financial Officer: Leads financial and capital raising strategies, with prior experience as Managing Director at Crestline Investors and roles at Black Diamond Capital Management and EY Corporate Finance. He holds a B.S. in Business Management from NYU's Stern School of Business and is a Certified Public Accountant.

Leadership Changes

In December 2024, Lendistry appointed Kanthi Muthiah as Chief Business Officer for Embedded Channels. Muthiah brings extensive experience in product development and risk management, having previously served as Chief Product Officer at Funding Circle US and held senior roles at FICO, PayPal, and J.P. Morgan Chase.

Competitor Profile

Market Insights and Dynamics

The small business lending market is characterized by a diverse range of financial institutions, including traditional banks, credit unions, online lenders, and CDFIs. The demand for accessible and flexible financing solutions has led to the emergence of fintech companies that leverage technology to streamline the lending process. Key trends include the increasing importance of digital platforms, the focus on underserved markets, and the integration of advanced data analytics in credit assessment.

Competitor Analysis

Lendio: A leading online marketplace for small business loans, Lendio partners with various lenders to offer a wide range of financing options. In June 2020, Lendio partnered with Lendistry to enhance access to capital for underserved communities, highlighting a collaborative approach to addressing financing gaps.

Funding Circle: An online lender specializing in small business loans, Funding Circle offers term loans with a focus on quick funding and transparent terms. The company has a significant presence in the U.S. and UK markets.

OnDeck: Provides online lending solutions to small businesses, offering term loans and lines of credit with a streamlined application process. OnDeck emphasizes speed and accessibility in its lending practices.

Kabbage: Acquired by American Express, Kabbage offers lines of credit to small businesses, utilizing automated underwriting and data analytics to assess creditworthiness.

Lendistry differentiates itself through its mission-driven approach, focusing on underserved communities and leveraging its CDFI and CDE certifications to provide responsible financing options.

Strategic Collaborations and Partnerships

Lendistry has established several strategic partnerships to enhance its service offerings and reach:

Texas Capital Bank: In August 2022, Lendistry partnered with Texas Capital Bank, receiving $5 million in funding to open a Dallas office. This collaboration aims to support underserved small businesses across Texas by providing access to capital and introducing new lending products tailored to contractors, nonprofits, and startups.