Small Business
Entrepreneurship provides pathways to wealth building for individuals and their families and can serve as a gateway to community wealth building. Small businesses sit at the heart of an energetic, local economy. They provide goods and services to residents, create jobs, nurture economic opportunity and innovation, and foster a sense of community.
Black, Indigenous, People of Color (BIPOC)-owned businesses face barriers to growth. They have less access to capital and are charged higher interest rates than white-owned businesses. As a result, BIPOC-owned businesses are far more likely to be sole-proprietors – preventing individual and community wealth building – have lower sales, and have fewer opportunities for growth. The average Black-owned business in Atlanta is valued at $58,085 while the average White-owned business is valued at $658,264.[6]
$58,085
$658,264
LISC ATL helps BIPOC-owned small businesses grow so they can positively impact local economies, create generational wealth, and increase the number of employees making a living wage.
How we do it
- LISC ATL supports job growth in underinvested communities by helping equip local businesses with the resources they need to grow. We provide direct financing to businesses in low- and moderate-income communities, as well as businesses owned by veteran, woman, and BIPOC entrepreneurs.
- We provide technical assistance to BIPOC business owners through a network of partners. Our shared goal is to increase the odds that these businesses will succeed, grow, and bring further wealth- and income-building opportunities into underinvested neighborhoods.
LISC offers Accelerated Business Loans, Permanent Working Capital Loans and Leasehold Improvement/FF&E Loans to existing businesses within LISC communities. Loan amounts range from $25,000 to $500,000.
