An investment of $2.5 million from Verizon is making it possible for LISC to begin offering critical relief and resiliency-building support to small businesses facing immediate financial threat because of the COVID-19 pandemic. The funding will go to make grants of up to $10,000, especially to entrepreneurs of color, women-owned businesses and other enterprises in historically under-served places who don’t have access to flexible, affordable capital. Verizon will highlight and bolster these efforts through their inaugural "Pay It Forward Live" online concert series.
LISC has tapped the former chief resilience officer for the city of Norfolk as executive director of its new full-service program office in Hampton Roads, Va. Christine Morris will kick off work this month to lead LISC’s local investments in affordable housing, businesses, health and jobs—all designed to expand economic opportunity for residents.
Did you hear what’s brewing in Chicago? Starbucks Coffee Company announced a $10 million investment to drive economic opportunity in the city’s underserved communities. The funds, which are slated to help finance more than 500 loans to support small businesses and create jobs, will be disbursed among four community lenders with expertise in those neighborhoods, and LISC Chicago is one. The investment “will deliver clear benefits to residents, while making our neighborhoods safer and stronger,” said LISC Chicago ED Meghan Harte.
LISC is ramping up its commitment to take on social determinants of health through a bold new partnership with Sentara Healthcare and the opening of a new full service office in Hampton Roads, Va. LISC and Sentara are each committing $50 million to the effort, which builds on the long-standing work of LISC’s Richmond office in order to expand economic opportunity throughout the Commonwealth.
LISC has named Geoff Jolley to lead its ambitious community investment plans in Kansas City. Jolley, who has spent decades working on the interests of local residents as both a policy expert and community leader, takes the helm of LISC Kansas City this month to oversee work on affordable housing, economic development, health, community safety and jobs.