Largest Black-Owned Bank Joins with Black-Led Small Business Lender
LOS ANGELES — OneUnited Bank, the nation’s largest Black-owned bank, joins with Lendistry, a Black-led fintech, to provide small business loans to OneUnited Bank customers. The Bank’s continuing 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 family. The six options include a profitable business, homeownership, savings & investments, an improved credit score, wills, and insurance. With Lendistry, the Bank can support customers who are business owners seeking funds to expand, buy an existing business or finance working capital.
Lendistry is a Black-led fintech and a leader in providing 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 funding for working capital, expansion, tenant/leasehold improvements, debt consolidation and to buy existing businesses.
“We began our relationship with Lendistry in 2020 with the Paycheck Protection Program (PPP) and continued in 2021 with our OneTransaction Program,” states Teri Williams, OneUnited Bank President. “We’re proud to expand our relationship in 2022 to offer small business loans to our customers nationwide”.
“Access to capital for the expansion of small businesses is what we do,” said Kerrington Eubanks, SVP of Strategic Partnerships for Lendistry. “We are happy to be a resource for OneUnited Bank’s small business customers to connect with us directly 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 in online banking, even if their business does not have a business banking relationship with OneUnited Bank. Qualifications, terms, and conditions apply which are determined by Lendistry.
For more information, please visit: www.oneunited.com/businessloan.