OneUnited Bank partners with Lendistry to offer small business loans nationwide
By Edlyn Cardoza
April 12, 2022
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OneUnited Bank, the nation’s largest black-owned bank, is partnering with Lendistry, a black-run FinTech, to provide small business loans to OneUnited Bank customers. The Bank’s ongoing mission is to close the racial wealth gap by providing a resource for term loans and non-revolving lines of credit to small businesses nationwide.
As part of its mission, OneUnited Bank introduced its OneTransaction program and podcast to encourage Black Americans to focus on “one transaction” to close the wealth gap for their families. The six options include profitable business, home ownership, savings and investments, improved credit rating, wills and insurance. With Lendistry, the Bank can support business owner clients looking for funds to expand, buy an existing business or finance working capital.
Lendistry is a Black-led FinTech and a leader in equal access to capital for small business owners. Since 2015, minority, women and veteran-owned businesses have trusted Lendistry to help them grow. Lendistry offers financing for working capital, expansion, tenant/leasehold improvements, debt consolidation and the purchase of existing businesses.
“We began our relationship with Lendistry in 2020 with the Paycheck Protection Program (PPP) and continued in 2021 with our OneTransaction program,” says Teri Williams, President of OneUnited Bank. “We are proud to expand our relationship in 2022 to offer small business loans to our customers nationwide.”
“Access to capital for small business expansion is what we do,” said Kerrington Eubanks, SVP of Strategic Partnerships for Lendistry. “We are pleased to be a resource for small business customers of OneUnited Bank to connect directly with us to explore new economic opportunities.”
Lendistry is a resource for all OneUnited Bank customers for small business loans through OneUnited Bank’s online banking platform and highly rated mobile app. Business owners can access the resource in its app or online banking, even if their business does not have a commercial banking relationship with OneUnited Bank. Qualifications, terms and conditions apply, which are determined by Lendistry.
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