Lendistry Closes $85 Million Senior Debt Offering in One of the Largest Institutionally-Led Capital Raises by a CDFI in 2022
Summary
Proceeds will support underserved small business lending initiatives across America.LOS ANGELES, Oct. 24, 2022 (GLOBE NEWSWIRE) -- 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 Lendistrys 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 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 is a member of the Federal Home Loan Bank of San Francisco, headquartered in a Los Angeles Opportunity Zone. Capital, Inc., became the nations only African American-led SBA designated Small Business Lending Company.The Notes were offered and sold only to accredited investors and to qualified institutional buyers. Lendistry undertakes no obligation to update or carry forward-looking statements, whether as a result of new information, future events or otherwise.This content was issued through the press release distribution service at Newswire.com.
Funding
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