BREA, Calif., Jan. 9, 2017 /PRNewswire/ -- National fintech lender, Merchant Money Company, LLC, (MMC) announced today it has rebranded as Lendistry, a name, the company says, is better aligned with their unique lending model. Lendistry utilizes technology, a team of banking veterans, and capital from social impactors, and national and community banks, as their formula to offer unique, customized loan products for small businesses nationwide, with a focus on businesses in underserved communities.
Lendistry's lending model was built on a culture of responsible credit; a practice the company believes provides benefits not only to small business owners, but also to investors. The company's new brand helps Lendistry differentiate itself from other online lenders, and believes the name will soon become synonymous with sound lending practices for all.
"This rebrand represents not only a significant turn for our talented team, but more importantly a deliberate decision to operate as a hybrid of what is good about both community banking and the fintech industry. We have adopted disciplines of both into our culture," said Lendistry CEO, Everett K. Sands.
Lendistry also unveiled their new website and logo to kick off the New Year. Lendistry.com is an inviting, easy to navigate website welcoming visitors to learn about the company's culture, products, and services, and apply quickly for a variety of small business loans.
"Lendistry.com serves as an online community lender for small businesses. We facilitate the loan process by working in partnership with banks and social impactors, allowing us to provide the capital businesses need quickly, at responsible rates," said Sands. "We will expand the website to offer resources to small business owners, particularly those in underserved communities. We're committed to helping small businesses succeed."
This announcement is one of many Lendistry expects to make at the start of 2017.
Lendistry's mission is to provide economic opportunities and progressive growth for small business owners and their underserved communities as a source of financing and financial education. Responsible lending for the benefit of both small business owners and investors is at the core of Lendistry's culture.
Since 2014, Lendistry has originated, funded and/or syndicated roughly $92MM in transactions, providing the U.S. small business community a range of financial services and products. Lendistry has a flexible, interactive, and unique technology-based underwriting and servicing mechanism geared towards small business transactions between $50,000-$1,000,000, and terms up to 10 years.
Lendistry also has a certification from the Department of Treasury's Community Development Financial Institution (CDFI) office providing access to a variety of credit enhancement programs. These CDFI programs allow Lendistry to borrow at low rates over extended periods of time, leverage loan guarantees financed by each state within the U.S., and request Community Reinvestment Act investment and lending proceeds from FDIC-insured banking institutions.
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