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Parent company LISC featured NMSC borrower, Ovenly, for their Small Business Saturday spotlight! Ovenly is a beloved Brooklyn-based bakery and small business committed to providing quality jobs for people who have been denied access to economic opportunity. Ovenly is the first recipient of a loan from our Good Jobs Fund.
LISC New Markets and Growing Rural Communities Fund project, Phillips Wharf Environmental Center of Tilghman Island, was recognized for its innovative work in oyster aquaculture incubation and chosen as one of seven organizations nationwide to serve as a national model for traditional working waterfront communities seeking to strengthen the local economy.
In the competitive market for new markets tax credit (NMTC) allocation authority, loan funds may provide an edge. By reducing transaction costs, loan funds facilitate qualified low-income community investments (QLICIs) of $2 million or less (small-dollar QLICIs), investments in small businesses and flexible terms. Loan funds are also used with larger QLICIs to reduce transaction ...