Lendistry, a minority-owned small business lender, is now offering mortgages in Illinois through its new Lendistry Home Loans (LHL) unit. 

LHL will offer conventional purchase and refinance loans, as well as loans for non-traditional borrowers, including streamlined FHA loans and VA Interest Rate Reduction Refinance Loans.  

“Lendistry Home Loans will offer the kind of technology-enabled, customer-centered experience that small business owners have enjoyed with Lendistry to first-time home buyers and borrowers looking to refinance or invest in property,” LHL Managing Director Drew Collins said in a press release. “Across the board, we are here to help our customers succeed financially.” 

Lendistry has loaned over $350 million to small businesses in Illinois, with the majority of loans going to minority- and women-owned businesses, the company said. The firm was selected to administer the $25 million Illinois Back to Business New Business Grant Program and is an approved lender in the Advantage Illinois SSBCI loan programs.

“It’s a challenging time in the housing market right now, so I see no better time to offer an alternative to homebuyers who need a responsible, equitable lender who understands their communities,” said Lendistry CEO Everett Sands, who is now LHL’s CEO as well. “Together, Lendistry Home Loans and Lendistry will be a holistic capital source for underserved borrowers in the two most impactful pathways to closing the wealth gap: business ownership and homeownership.”