Lendistry in Los Angeles received a $25 million investment commitment from a unit of TD Bank.
The community development financial institution and leading Small Business Administration 7(a) lender, said in a press release that the investment could support up to $250 million in small business financing over the next five years.
“TD believes that small businesses of all sizes are the economic drivers of our communities, but each one has different credit needs,” Michael Cooper, president of TD Community Development Corp., said in the release “We are pleased to make this investment with Lendistry to make loans starting at $25,000 available to small business owners, which aligns with the goals of TD’s Community Impact Plan.”