LISC National
Small Business Rescue Fund
COVID-19 Response

Small Business Rescue Fund

The widespread practice of “social distancing” in response to the spread of COVID-19 is dramatically reducing the revenue of small businesses in every community, and it will have disproportionate financial impacts on small minority businesses and those serving traditionally disinvested communities.

LISC created a fund that will enable both loans to be deployed to small businesses, nonprofits and CDFIs supporting small businesses for their most urgent needs, including operational costs like paying employees, vendors, and rent. The Fund will target the following entities:

  • Women, minority, and veteran-led small businesses that provide vital goods, services, and jobs in communities most in danger of permanent closure;
  • Nonprofit social enterprises with revenues of less than $5 million, and;
  • Smaller CDFIs with missions to support small businesses.

We believe these three groups represent those most in-need of capital infusions.

The Fund addresses urgent needs:

  • Loans will range from $75,000-$250,000 to rapidly inject working capital into businesses where they need it most, with real estate loans up to $500,000.
  • This product will be 2% Interest-Only for the initial 12 months, then principal & interest (up to 6.75%) for the remainder of term (up to 48 months).
  • Funds can be used for working capital, equipment, inventory, tenant improvements, real estate purchases, debt financing, etc..

Borrowers need to have been in operation for at least three years and must provide basic documentation such as tax returns and a plan of how proceeds will address the impact of COVID-19.


  • Up to 48 months;
  • Up to 20 years amoritization for real estate loans
  • Loans have no pre-payment penalties



  • Real estate and equipment, if subject of the loan
  • First lien UCC on all business assets
  • Personal guaranty from all owners


Equity: 10% equity at closing for non-working capital loans



  • In business for at least three years
  • 3 years tax returns required (business and personal)
  • Minimum Sales Revenue $150,000 annually
  • 1.15x historical debt service coverage for 2019

What's Next:

To apply, please complete this form, a critical step in determining eligibility for the program.

Complete Form