Forgivable Loans for Baltimore-Area Small Businesses, Independent Contractors and Non-Profits Available from Lendistry
Lendistry, the leading fintech Community Development Financial Institution (CDFI), said funds remain available for forgivable loans to eligible small businesses, independent contractors and non-profit organizations in the City of Baltimore.
Mayor Bernard C. “Jack” Young 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 Small Business Administration’s (SBA) Paycheck Protection Program (PPP).
“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 loan approval is faster for well-documented applicants compared with just a few weeks ago. Furthermore, recent guidelines issued by the SBA have clarified and addressed many questions about loan forgiveness. Re-establishing employee teams is a key to regaining traction, and Lendistry stands ready to help,” Mr. Sands concluded.
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.