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The Black Economic Development Fund
Reaches $250 Million &
Makes its First Investments

ABOUT

 

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

FUND TARGETS:

BLACK-LED

BUSINESSES

BLACK-LED

REAL ESTATE

DEVELOPERS

BLACK-LED

BANKS

BLACK-LED

ANCHOR INSTITUTIONS

 
Skyscrapers

FROM A MOMENT TO A MOVEMENT

 
 

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?


“Black-led or -owned” means (i) 50.1% or more Black-owned, (ii) having a majority of Black board members or persons exercising similar functions, or (iii) predominantly serving the Black community by having a majority of Black customers or having a majority of its operations in Black neighborhoods.




Does the BEDF only invest in Black-led organizations/businesses?


The BEDF targets Black-led or -owned businesses, but is not the sole requirement. The investment committee comprehensively looks at the overall impact and financials for each investment.




Who does the BEDF invest in?


The BEDF’s primary objective is to invest in Black-led:

  • Financial institutions
  • Anchor organizations
  • Businesses
  • 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.





Borrower FAQs

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?


Absolutely not. We welcome organizations who have an existing relationship with LISC to applying for the BEDF funding. When applying, please let your current LISC point of contact know of your application for BEDF funding.




What type of investment capital does the BEDF provide?


The BEDF provides 0-5 year term debt and deposits to depository institutions.





Process FAQs

When can I apply for investment from the BEDF?


The online pre-application is now open and can be accesssed on the BEDF website.




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?


Please direct the potential borrower to the BEDF Website for more information.




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.





OUR PARTNERS

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IN THE NEWS

 

INVESTMENT HIGHLIGHTS

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.