LISC is ramping up its national economic development work with the launch of a new small business lender called immito. “Nothing catalyzes opportunity in a community like new businesses launching and expanding,” said Maurice A. Jones, LISC president and CEO. immito is expected to do $100 million in annual lending and will spark entrpreneurship and [...]
Check out our top three reads of the week covering the challenges and opportunities of American communities. This week, we're reading about the life-expectancy gap, worker cooperatives, and the link between housing and family stability.
In Cincinnati, LISC’s one-to-one matches for Kiva loans to local entrepreneurs are producing some sweet results. An article in Soapbox Cincinnati tells the stories of creative area women, including a gourmet carrot cake baker, who have grown their businesses thanks to the no-interest, no-fee—but big impact—loans.
An article in The Wall Street Journal details a creative program to help neighborhood bodegas update their look and stock, and keep pace with demand as new, younger clientele moves in. Together with longtime partner Cypress Hills Local Development Corp, LISC is spearheading the "Commercial Corridor Challenge," supporting small businesses to prosper—not flounder—as demographics change.
JP Morgan Chase is teaming up with LISC, Accion and Fifth Third Bank on an investment effort to support the growth of minority-owned businesses on Chicago’s South and West Sides. LISC’s Maurice A. Jones joined Mayor Rahm Emanuel and Jamie Dimon, chairman and CEO of JPMorgan Chase, to announce the Entrepreneurs of Color Fund—a model built on the bank’s similar efforts in other cities--as well as related support for small business mentoring. "This work is about catalyzing opportunity so that everyone—no matter their race, or zip code, or family background—has the chance to contribute to Chicago’s prosperity, and to share in its benefits as well,” Jones said.
Bill Taft, the longtime executive director of LISC Indianapolis, has been named senior vice president of economic development for LISC and will be spearheading our work to grow enterprises and create jobs in the places that need them. In the following Q&A, he talks strategy, practice and what it takes to build inclusive local economies in real life.