This week, Lowe’s became the largest contributor to LISC’s Covid-19 small business relief efforts with $30 million in new funding for entrepreneurs of color and rural businesses as they navigate the coronavirus recession. The grant builds on Lowe’s previous $25 million commitment to LISC’s relief fund, with a particular focus on minority business o [...]
Wells Fargo is granting $15 million to LISC to support small businesses reeling in the wake of the economic fallout from Covid. LISC will use the funds in a partnership with Kiva, the crowd-funding social impact platform, to get grants and low-cost loans to more than 2,800 entrepreneurs in urban and rural markets nationwide. The capital will be targeted at preventing further loss in revenue, sustaining employment and averting vacancies among vulnerable small business owners.
A former county official is taking the helm at LISC Milwaukee with plans to expand economic development investments, especially those that address the racial wealth gap, and fuel COVID-19 relief and recovery. “We can bridge the gaps in health and wealth that affect so many in our city,” said Theodore Lipscomb, the new LISC Milwaukee executive director, "and catalyze opportunities for all our neighbors to thrive.”
LISC has named a top national economic development leader to grow its Rural LISC investment efforts and help fuel the LISC Rural Promise. Caitlin Cain is a Fulbright Scholar and former CEO of the World Trade Center of New Orleans. Her experience and skills "are needed now more than ever,” said LISC CEO Maurice A. Jones, "as our rural communities look for new ways to attract jobs, improve health and support sustained growth in the midst of Covid-19 and economic recession.”
Synchrony Foundation awarded a $2 million grant to LISC to provide emergency relief to small businesses hit hard by the pandemic, especially minority- and women-owned businesses. This grant is part of a larger recovery program announced by Synchrony that also includes connecting small businesses to customizable digital tools and consulting expertise.
The Nielsen Foundation awarded a $1 million, three-year grant to LISC to support Black-owned small businesses impacted by Covid-19 shutdowns and recent social unrest. The funding will target historically disinvested neighborhoods in New York City, Chicago, Los Angeles, and the Twin Cities.