LOS ANGELES, Aug. 3, 2021 /PRNewswire/ -- Lendistry announced
today that it will administer three additional rounds of grant
funding through the California Small Business COVID-19 Relief Grant
Program. With the additional $1.5
billion expansion, for a total of $4
billion, California's small
business relief program is the largest in the country to support
small businesses and nonprofits that have struggled due to the
COVID-19 pandemic.
As the only fintech CDFI, Lendistry's mission is to provide
underserved small business owners with access to the capital they
need to grow. The lender's proprietary technology, combined with
its foundation of community development relationships, made it the
ideal partner to deploy grants to small businesses when the
pandemic made rapid response capabilities essential to relief
efforts. Based in a Los Angeles Opportunity Zone, Lendistry is
proud to continue serving its home state. As Lendistry CEO
Everett K. Sands states, "We are
excited to continue supporting the small businesses and nonprofits
within California."
The California Small Business COVID-19 Relief Grant Program
began with $500 million in funding in
December 2020 and added $2 billion in March
2021 in response to demand. To provide relief to as many
small businesses and nonprofits as possible, Governor Newsom on
July 13, 2021 signed into law the
largest economic recovery package in state history, which includes
an additional $1.5 billion to the
California Relief Grant program. These new funding rounds are
designed to address the continuing need for support following
Rounds One through Six of the program.
Round 7: Waitlisted applicants from certain previous
rounds:
Selection Window: Tuesday, Aug. 3 through Thursday,
Sept. 16
- Eligible applicants: This is a closed round and only available
to eligible applicants who were waitlisted in certain previous
rounds - only existing waitlisted applicants will be selected to
move forward in the validation and verification review process.
Selection does not guarantee approval or an award. If you were
waitlisted, you do not need to reapply. New applications will
not be accepted in this round.
- Eligible grant award: $5,000 to
$25,000
- Details: This is a closed funding round; no new applications
will be accepted
Round 8: Nonprofit cultural institutions only:
Application window: Friday, Aug. 27 through
Wednesday, Sept. 8
- Eligible applicants: Only non-profit cultural institutions with
any revenue size that meet eligibility criteria found at
CAReliefGrant.com.
- Eligible grant award: $5,000 -
$25,000
- Details: Approximately $16 Million
dollars remain under the Nonprofit Cultural Institutions
Program. Eligible nonprofit cultural institutions must complete a
new application even if they already applied in Rounds 1, 2, 5, or
6; nonprofit cultural institutions that applied in Round 4 do not
need to re-apply; grants will only be available to nonprofit
cultural institutions that did not receive funding in any previous
rounds; grants will be prioritized based on the documented
percentage revenue declines based on a reporting period comparing
Q2 and Q3 of 2020 versus Q2 and Q3 of 2019.
Round 9: New Applicants and Waitlisted applicants from
certain previous rounds
Application window: Thursday, Sept. 9 through
Thursday, Sept. 30
- Eligible applicants: current waitlisted applicants from certain
previous rounds and new applicants that meet
eligibility criteria found at CAReliefGrant.com.
- Eligible grant award: $5,000 -
$25,000
- Details: Applicants not selected to move forward in the review
process in Rounds 1, 2, 3, 5, 6, or 7 do not need to re-apply and
will be automatically moved into Round 9. New applicants will need
to apply at CAReliefGrant.com.
Using its proprietary platform, Lendistry will distribute the
grants to all California counties,
giving priority to businesses in geographical areas and industries
that have been hardest hit by the shutdown, as well as historically
disadvantaged communities.
About Lendistry
B.S.D. Capital, Inc. dba Lendistry (lendistry.com) is 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.
Lendistry ranks second nationwide in SBA Community Advantage
lending, providing responsible financing to small business owners
and their underserved communities. Lendistry is a member of the
Federal Home Loan Bank of San
Francisco, and is headquartered in a Los Angeles Opportunity
Zone. During the COVID-19 pandemic, Lendistry provided Paycheck
Protection Program (PPP) loans to small businesses in all 50 states
and was selected by the states of California, Pennsylvania and New
York to administer their small business relief programs,
which distributed grants to businesses that lost significant
revenues during the pandemic. Lendistry and its nonprofit partner
organization, The Center by Lendistry, are dedicated to providing
economic opportunities and progressive growth for underserved urban
and rural small business borrowers and their communities.
For more information, contact: communications@lendistry.com
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SOURCE Lendistry