Largest Black-Owned Bank Joins Black-Led Small Business Lender
LOS ANGELES, April 11, 2022 /PRNewswire/ — One United Bank, the nation’s largest black-owned bank, is partnering with black-led fintech Lendistry to provide small business loans to OneUnited Bank customers. The Bank’s ongoing mission is to close the racial wealth gap by providing a resource for term loans and non-revolving lines of credit to small businesses nationwide.
ONEUNITED BANK JOINS WITH LENDISTRY TO OFFER SMALL BUSINESS LOANS NATIONWIDE TO CLOSE RACIAL WEALTH GAP
As part of its mission, OneUnited Bank introduced its OneTransaction program and podcast to encourage Black Americans to focus on “one transaction” to close the wealth gap for their families. The six options include profitable business, home ownership, savings and investments, improved credit rating, wills and insurance. With Lendistry, the Bank can support business owner clients looking for funds to expand, buy an existing business or finance working capital.
Lendistry is a black-led fintech and a leader in equal access to capital for small business owners. Since 2015, minority, women and veteran-owned businesses have trusted Lendistry to help them grow. Lendistry offers financing for working capital, expansion, tenant/leasehold improvements, debt consolidation and the purchase of existing businesses.
“We began our relationship with Lendistry in 2020 with the Paycheck Protection Program (PPP) and continued in 2021 with our OneTransaction program,” says Teri Williams, President of OneUnited Bank. “We are proud to expand our relationship in 2022 to offer small business loans to our customers nationwide.”
“Access to capital for small business expansion is what we do,” said Kerrington EubanksSVP Strategic Partnerships for Lendistry. “We are pleased to be a resource for small business customers of OneUnited Bank to connect directly with us to explore new economic opportunities.”
Lendistry is a resource for all OneUnited Bank customers for small business loans through OneUnited Bank’s online banking platform and highly rated mobile app. Business owners can access the resource, in its app or in online banking, even if their business does not have a commercial banking relationship with OneUnited Bank. Qualifications, terms and conditions apply and are determined by Lendistry.
For more information, visit: www.oneunited.com/businessloan.
Media Contact: Suzan McDowellCircle of One Marketing, [email protected], or 305-576-3790
About OneUnited Bank
OneUnited Bank (www.oneunited.com) is the premier bank for urban communities, the largest black-owned bank, the first black internet bank and a community development financial institution (CDFI). Its mission is to provide affordable financial services to support the economic development of urban communities and maintain superior financial performance to maximize shareholder value. OneUnited is an FDIC-insured bank and equal housing lender.
BSD Capital, Inc. dba Lendistry (www.lendistry.com) is a black-led, technology-focused small business and commercial real estate lender with Community Development Financial Institution (CDFI) and Community Development Entity (CDE) certifications. Lendistry is one of the top SBA Community Advantage lenders nationwide, providing responsible financing to small business owners and their underserved communities. 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 has provided Paycheck Protection Program (PPP) loans to small businesses in all 50 states and has been 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. Lendistry is dedicated to supporting the economic opportunity and incremental growth of underserved urban and rural small businesses and their communities.
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SOURCE One United Bank