Forgivable Loans for Philadelphia-Area Small Businesses, Independent Contractors and Non-Profits Available from Lendistry

- Enterprises Able to Document 2019 Finances Encouraged to Apply at www.mylendistry.com -

- May 26^th Free Information Webinar with Lendistry and the SBA to be Hosted by PIDC -

- Lendistry CEO Sands: Shorter wait times for well-documented applicants, new clarity from SBA on loan forgiveness, mean now is the time to act -

PHILADELPHIA, May 22, 2020 (GLOBE NEWSWIRE) -- Lendistry, the leading fintech Community Development Financial Institution (CDFI), today said funds remain available for forgivable loans to eligible Philadelphia-area small businesses, independent contractors and non-profit organizations. 

A free information webinar will be held with Lendistry and the Small Business Administration (SBA) on Tuesday, May 26 at 2pm ET to discuss the Paycheck Protection Program (PPP) and PPP loan forgiveness. The webinar is hosted by PIDC, with registration information further below.

“For business owners who felt discouraged about applying earlier in the PPP process, now is the time to act to secure funding that can help put your people to work and your enterprise back on its feet,” said Everett K. Sands, Lendistry’s Chief Executive Officer.

“PPP approval is faster for well-documented applicants compared with just a few weeks ago. Furthermore, recent guidelines issued by the SBA have helped clarify for borrowers the requirements for loan forgiveness. Re-establishing employee teams is a key to regaining traction, and Lendistry stands ready to help,” Mr. Sands concluded.

Mayor Jim Kenney announced in April a $10 million commitment, with funding provided by Goldman Sachs under its 10,000 Small Businesses initiative, and with loans provided through Lendistry under the PPP.

To-date more than 1500 small businesses, independent contractors and non-profits nationally have been approved by Lendistry for a total of more than $83 million in PPP funding. Open to all PPP applicants, Lendistry’s traditional focus is on minority, women and veteran-owned businesses in underserved and rural markets.

To apply, simply visit the online application portal by clicking here or going to www.mylendistry.com.

To get ready and have the necessary documents on hand before applying:

• All applicants should review Lendistry’s PPP Portal Guide.
• Owners of corporations should review the Corporate Document Checklist.
• Sole proprietors should review the Sole Proprietor Document Checklist.
• Download the SBA PPP Application here.

To register for PIDC’s May 26^th webinar click here or visit http://www.pidcphila.com/events/paycheck-protection-program-lendistry-info-session.

About Lendistry
Lendistry is a minority-led CDFI and CDE small business and commercial real estate fintech lender. Lendistry ranks second nationwide in SBA Community Advantage lending, providing responsible financing to small business owners and their underserved communities. Headquartered in Los Angeles, Lendistry is a member of the Federal Home Loan Bank of San Francisco.