The Untold Story of Lendistry's Rise in 7(a) Lending feat. Everett Sands | Ep. 185

This week on The Art of SBA Lending, we sit down with Everett Sands, a leader who successfully propelled Lendistry into the top tier of the nation's SBA 7(a) lenders. Everett explains his approach to SBA lending, which involves applying lessons learned from other industries like residential and auto lending to an industry he feels is decades behind.

As a fintech and a CDFI, Lendistry occupies a unique space in the market. Everett discusses how his company is leveraging technology and a mission-driven approach to win customers by offering a better, more user-friendly experience than predatory online lenders. He challenges the traditional, anecdote-driven banking model and argues that by embracing data, AI, and streamlined processes, the industry can better serve the small business community and protect its "home turf" from bad actors.

🎯 In this episode:

➡️ Why Everett views the financial industry's resistance to technology as "losing at home".

➡️ The surprising decline of banks in the U.S. and how it's created a gap in lending to small businesses.

➡️ How a company can handle 344,000 applications in just 15 days.

➡️ Why the mission to help small businesses is the key to embracing change and innovation.

➡️ A creative solution to the MCA refinance problem that protects both lenders and borrowers.

💬 Is it possible for traditional SBA lenders and fintechs to meet in the middle to better serve small businesses? Join the conversation in the comments below.

The BDO Retreat is back for its fifth and final year, and this time, we’re taking you to Key Largo, Florida, on January 16th and 17th.

Join us for a weekend of BDO workshops, exclusive networking, and, as always, a few surprises: https://www.artofsba.com/bdo-retreat

🎙This episode is sponsored by:

CORPSMART 

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Rapid Business Plans 

Rapid Business Plans is the go-to provider of business plans and feasibility studies for government guaranteed small business lenders. For more information, or to set up a Get Acquainted call, go to https://rapidbusinessplans.com/art-of-sba. Find out why so many top-producing BDOs recommend Rapid to their small business borrowers.

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