- About Us
- Our Work
The Local Initiatives Support Corporation, known as LISC, is one of the largest organizations supporting projects to revitalize communities and bring greater economic opportunity to residents. As one of LISC’s local offices, we provide capital, strategy and know-how to our Twin Cities community development partners.
$734 million invested through grants, loans, and equity
$2.9 billion leveraged in additional linvestments in local projects
17,404 new or preserved affordable homes and apartment
2.4 million square feet of new or renovated commercial and community space
8,000 people have improved their financial stability through our Financial Opportunity Center partners
In March, Congress initially authorized $350 billion in relief funds to the Small Business Administration (SBA) to help small businesses (500 or fewer employees) meet their payrolls if forced to close due to the pandemic. It was a first-come-first-served setup in hopes that the lion’s share of the loans, which would be 100 percent forgiven if 75 percent were used for paying employees, would go to small businesses. However, the $350 billion reportedly had mostly gone in the program’s first 13 days to larger firms, country clubs, and private schools who got in line first for the PPP loans.
The Minneapolis-St. Paul metro area is home to more than 20,000 East African immigrant households, many of which are Muslim. In recent years, there has been a growing interest in the extent to which this population utilizes mainstream financial services and products. Traditional loan products that charge interest are contradictory to principles found in Islamic law. For many East African households, this presents a barrier to accessing the credit needed to purchase a car, start a business, or buy a home.
LISC Twin Cities is an organization geared towards revitalizing communities by helping bring economic opportunity to local residents. The COVID-19 pandemic has caused deep economic turmoil and increased disparities throughout our nation; many of our communities need more economic opportunities now, more than ever. In turn, we are increasing our capacity in order to help serve more community members in the Twin Cities.