Lendistry Joins Equity in Infrastructure Pledge as First Financial Institution

Everett K. Sands, CEO of Lendistry ● Photo Credit: Lendistry

LOS ANGELES, March 27, 2024 (VSNewsNetwork.com) - Lendistry has become the first financial institution to sign the Equity in Infrastructure Pledge, according to an announcement by the Equity in Infrastructure Project (EIP). This initiative, which has previously seen signatories primarily from public agencies involved in infrastructure development, aims to support Historically Underutilized Businesses (HUBs) by improving contracting practices in public infrastructure projects.

The pledge is part of a broader effort by EIP, which includes leaders from 59 organizations across the United States, including transit authorities, airports, ports, water districts, and financial firms. The initiative has received encouragement from the White House, urging grantees of the Bipartisan Infrastructure Law to commit to the pledge. EIP's mission focuses on building generational wealth and narrowing the racial wealth gap through equitable public infrastructure contracting.

Everett K. Sands, CEO of Lendistry, highlighted the importance of the pledge, stating, “Nationwide, infrastructure projects are creating more opportunities for underserved and undercapitalized communities to grow. But to turn those opportunities into wins, small business contractors need access to mobilization capital. Lendistry is proud to sign the Equity in Infrastructure Pledge, and I encourage other financial institutions to do the same so we can keep changing the lending ecosystem for the better.”

EIP Co-Chairs, including Phil Washington, CEO of Denver International Airport; John Porcari, former US Deputy Secretary of Transportation; Dorval Carter, Jr., President of the Chicago Transit Authority; and Rick Jacobs, an advisor to infrastructure agencies, collectively emphasized the coalition's commitment to fairness and the American Dream. They advocate for a voluntary, CEO-level commitment to ethical practices that support progress in infrastructure investment, despite legal challenges to statutory programs.

Lendistry, a minority-led fintech company, provides lending products and access to grant programs for small businesses nationwide. Positioned in a Los Angeles Opportunity Zone, the company aims to bridge access to capital gaps through technology and community partnerships. Lendistry holds certifications as a Community Development Financial Institution (CDFI) and Community Development Entity (CDE), and is a member of the Federal Home Loan Bank of San Francisco. Its subsidiary, Lendistry SBLC, LLC, is recognized as an SBA Preferred Lender and the only African American-led SBA designated Small Business Lending Company.

For further details on Lendistry's initiatives, visit www.Lendistry.com.

Source: Lendistry via Newswire