The Black Economic Development Fund (BEDF) is an impact investment fund built specifically to address economic challenges in the black community and to help close the racial wealth gap. The fund targets Black-led financial institutions, Black-led businesses, and Black-led anchor institutions with the goal of growing these organizations and strengthening their contributions to the Black community. The funds deployment strategy is industry agnostic and will deploy capital across a diverse set of borrowers and geographies in the US.
THE BLACK ECONOMIC DEVELOPMENT
FREQUENTLY ASKED QUESTIONS
General Fund FAQs
What is the Black Economic Development Fund (BEDF)?
The Black Economic Development Fund (BEDF) is a private investment fund managed by LISC Fund Management, LLC (LFM) an affiliate of Local Initiatives Support Corporation (LISC) Strategic Investments (SI). The BEDF’s primary objective is to target Black-led or Black-owned financial institutions, developers, businesses, and anchor institutions with improved access to capital in order to incentivize economic activity and wealth building opportunities in Black communities.
What does Black-led mean?
Does the BEDF only invest in Black-led organizations/businesses?
Who does the BEDF invest in?
The BEDF’s primary objective is to invest in Black-led:
Real estate developers
Is the BEDF a grant fund or provide grant funding?
No. The BEDF is an investment fund aimed to increase access to capital for Black-led organizations and institutions.
What are the eligibility requirements for the BEDF funding?
Eligibility requirements for each type of borrower (business/nonprofit, real estate, bank, anchor institution) can be found via the respective links on the BEDF website.
What products does the BEDF offer? And where can I find more information?
The BEDF offers a variety of equity & debt products for each type of borrower. More information can be found from following respective links on the BEDF homepage.
I have an existing relationship with LISC, am I ineligible?
What type of investment capital does the BEDF provide?
The BEDF provides 0-5 year term debt and deposits to depository institutions.
When can I apply for investment from the BEDF?
What information do you need to applying for investment?
Please visit the respective portal on the BEDF website.
I know someone looking for investment, where should I direct them?
What happens after I camplete the online pre-application?
After you submit the online pre-application, we will reach out to qualified borrower applicants in about 7-14 days. Please make sure to read all qualifications and complete the applicaiton as thoroughly as possible.
The investment pools sponsored by LISC are available only to eligible investors, are offered only pursuant to their official offering documents, and are managed by LISC Fund Management, which is a wholly-owned subsidiary of LISC. LISC Fund Management is an investment adviser registered with the U.S. Securities and Exchange Commission (“SEC”). Registration of an investment adviser with the SEC does not imply any level of skill or training. Please visit the SEC’s website at www.adviserinfo.sec.gov to see LISC Fund Management’s Form ADV, which contains important disclosures, including further disclosures about material conflicts of interest, risks, and limitations associated with LISC Fund Management.