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IN THE NEWS
LISC Invests in Fearless Fund to Increase Access to Venture Funding for Minority Women Entrepreneurs
October 26, 2020
LISC is the first institutional investor in Fearless Fund, a $20 million venture capital fund led by women of color that invests exclusively in early-stage startups also led by women of color. "By increasing access to capital in an inclusive manner, we tackle one of the core challenges to closing the wealth gap,” noted George Ashton, managing director of LISC Strategic Investments.
Detroit Housing for the Future Fund's Investment, OSI Art Apartments, Breaks Ground on Affordable Housing Units
October 15, 2020
The N’Namdi Holdings and URGE Development Group project, which is a part of a vision the Black developers have for the West End Gallery District featuring retail, restaurants, housing and galleries, is the first to receive funds from the $48 million Detroit Housing for the Future Fund that assists in the creation of affordable housing in the city’s neighborhoods.
Unlocking Corporate Treasuries for Racial Equity with George Ashton of LISC
October 8, 2020
On a recent episode of Money + Meaning, George Ashton, LISC's managing director of Strategic Investments discusses the newly launched Black Economic Development Fund. Targeting up to $250 million and initially seeded by $25 million investments from both Netflix and Costco, the Black Economic Development Fund will work to close the racial wealth gap through both a direct and indirect investment strategy: directly through investments in black-led businesses and anchor institutions, and indirectly through working with black-led financial institutions.
New York State Small Business Fund Shows Promise Reaching the Unreachable
October 6, 2020
LISC managed New York Forward Loan Fund (NYFLF) making a difference for diverse small businesses. NYFLF has focused on those small businesses that other programs haven’t. Seventy-four percent of the businesses funded so far are owned by women or people of color, and 86 percent have five or fewer employees.
Making Black banks matter
September 21, 2020
Black-owned financial institutions are amplifying the call for racial justice by drawing more private capital into their communities. Could they help close America’s wealth gap?
Costco Commits $25 Million to LISC's Black Economic Development Fund
August 28, 2020
Costco Wholesale Corporation (Nasdaq: COST) is committing $25 million to an innovative new impact investment fund that will fuel Black-led financial institutions and community development efforts.
New York Forward loan helped me keep the doors open, owner says
August 4, 2020
Trisha Kusinitz, founder and owner of tkSolutions Coaching LLC, said she plans to reopen Work-Shop this month, thanks to a state loan program: the $100 million New York Forward Loan Fund.
Governor Cuomo Launches $100 Million New York Forward Loan Fund
May 22, 2020
Amid the ongoing COVID-19 pandemic, Governor Andrew M. Cuomo today announced the launch of the $100 million New York Forward Loan Fund to provide flexible and affordable loans to help small businesses, focusing on minority and women owned small businesses, that did not receive federal COVID-19 assistance. The state will take a smart, targeted approach for distributing these loans, focusing on businesses with 20 or fewer employees and less than $3 million in gross revenues. Businesses interested in receiving a loan should visit esd.ny.gov/nyforwardloans.
Verizon Joins LISC to Support LA Small Business Fund
April 30, 2020
Small businesses get COVID-19 relief in private grants, as Verizon boosts support to $7.5M
LISC joins Big employers pledging billions toward Bay Area housing
October 24, 2019
Announced in Biz Journals, The Partnership for the Bay’s Future is highlighted as a crucially needed public private partnerships to address the growing crisis of the lack of affordable housing in the Bay Area. Read more here. Learn more about Bay’s Future Fund For media inquiries contact firstname.lastname@example.org
$500 Million fund launched to address affordable housing in the Bay Area
January 24, 2019
Bay Area community and faith leaders, housing advocates, business leaders, and philanthropists launched a regional public-private housing partnership that will build
one of the country’s largest investment funds to address the regional affordable housing crisis. Read the official press release here.
Charlotte Housing Opportunity Investment Fund Suprasses its goal raise of $50M
September 5, 2019
In less than 18 months, a coalition of nonprofits, local government and businesses has pulled in $250 million worth of grants, land donations and low-cost financing to help solve Charlotte’s affordable housing crisis. The leader of the campaign, Foundation For The Carolinas CEO Michael Marsicano, on Thursday evening disclosed a combined $15 million in commitments to push a pair of housing funds past their target amounts.
Finding Home series Reviews Charlotte need for Affordable Housing
November 18, 2019
Finding Home series talks about the need for affordable housing in Charlotte area and reviews CHOIF progress.
President of The Rockefeller Foundation At an Opportunity Zones Announcement for Washington, D.C., Oakland, Dallas, and St. Louis.
September 9, 2019
Remarks by Dr. Rajiv J. Shah, President of The Rockefeller Foundation At an Opportunity Zones Announcement for Washington, D.C., Oakland, Dallas, and St. Louis
Detroit forms partnership to continue efforts at preserving city's affordable housing
May 9, 2020
The city of Detroit is partnering with a number of community developers, service providers, and other experts as part of its effort to improve the stock and preserve existing affordable housing.
LISC Taps Innovative Entrepreneur George Ashton
December 5, 2018
LISC has named George Ashton as its new managing director for strategic investments. He plans to lead LISC’s work on Opportunity Zones with a clear-eyed view of the potential for community gains—focusing not just on how much capital can be raised, but on deploying it in ways that fuel lasting benefits for residents.
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