Lendistry is a small business lender that provides financing and financial education to underserved businesses across the United States. As the COVID-19 pandemic hit, Lendistry moved quickly to address the demands of struggling businesses, becoming a top 10 PPP lender in 2021.
Who is Lendistry? What is their partnership with Cliq?
Lendistry is a small business lender that focuses on providing financing and financial education to underserved businesses across the United States.
What business challenges does Cliq address?
As the COVID-19 pandemic hit, Lendistry acted quickly to address the growing needs of struggling small businesses. Lendistry became a major player in the distribution of Paycheck Protection Program (PPP) loans help keep small businesses afloat during the economic downturn.
Lendistry turned to Cliq as a reliable and expert financial technology partner to help support their rapid growth. The unprecedented situation required custom technology solutions to quickly process PPP applications and prevent fraud, also while prioritizing speed and efficiency moving money to the businesses that needed it most.
“Cliq took the extra steps to get to know my business and understand our specific workflows,” says Everett Sands, CEO of Lendistry. “It truly felt as though we were in lock step with each other during a constantly evolving situation.”
By the end of the application window for the program in 2021, Lendistry had become a top 10 provider of PPP loans in the country, processing $4.7 billion in loans during the program. Cliq was there to support their 2700% business growth over the course of the year, and continues to provide the technology solutions that allow Lendistry to fulfill its vision of supporting small businesses across the country.