Lendistry Recognized for Providing $23.3 Million to 15 Marginalized Businesses With Small Business Loan Fund

Lendistry has been awarded the Qualified Low-Income Community Investment (QLICI) of the Year Award from Novogradac in the Small Business category. The fintech firm won for its NMTC Loan Fund I, which provided $23.3 million in below-market-rate loans, creating over 300 living wage jobs. This marks Lendistry’s second such accolade, having previously won for the Destination Crenshaw project in 2022.

The fund, unique for utilizing NMTC allocations to support small businesses, impacted marginalized communities nationwide. Beneficiaries included a minority-owned accounting firm in New York and a nonprofit makerspace in Chicago. Notably, Akin, Co., a women-owned contracting firm in Los Angeles, benefited from this financial support.

Nicole Boone, Lendistry VP of Capital Markets, emphasized the potential of New Markets Tax Credits for small businesses. Boone stated that Lendistry aims to recycle these small loans to benefit at least 100 additional businesses in need of capital.