Lendistry, a community development financial institution (CDFI), has obtained a credit facility worth $50 million from East West Bancorp (EWBC).

“Lendistry is a remarkable finance company that utilizes technology in providing much-needed capital to those small businesses and communities that have been predominantly neglected by traditional lenders,” Mark Parsa, SVP of East West Bank’s Structured Finance Group commented.

The company plans to direct the newly raised funds towards fueling the expansion of its small business lending platform.

“This credit facility is a significant milestone for Lendistry that will boost inclusive and responsible small business financing to business owners and underserved communities nationwide,” Everett K. Sands, Lendistry CEO stated.