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State Selects Black LA Firm (Lendistry) to Disburse $500 Million in COVID Relief Loans

Everett K Sands

Everett K. Sands, Lendistry’s founder and CEO

The State of California announced that it has selected a Black-led-and-operated financial firm in Los Angeles to act as the intermediary charged with disbursing $500 million in COVID-19 grants to California small businesses and non-profits.

The California Office of The Small Business Advocate (CalOSBA), which operates under the Governor’s Office of Business and Economic Development (GO-Biz), says small businesses and non-profit organizations across California that have been affected by the COVID-19 pandemic can begin submitting applications for relief grants ranging from $5,000 to $25,000. The application process begins now and runs through Jan. 8, 2021.

The governor and the Legislature first announced the program Nov. 30.

The funding to the organizations will be administered through Lendistry, a Black-led-and-operated financial firm based in Los Angeles. Lendistry is designated both a Community Development Financial Institution (CDFI) and a Community Development Entity (CDE) small business and commercial real estate lender.

“As an organization dedicated to efficiently providing capital to underserved small businesses, and with a deeply experienced senior management team that mirrors the diversity of our home state of California, Lendistry is proud to partner with the CalOSBA in this bold and critical effort,” said Everett K. Sands, Lendistry’s founder and CEO.

For more information on the grant requirements and eligibility, or to apply, please visit careliefgrant.com.

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