Our Work
The Entrepreneurs of Color Fund (EOCF) promotes the success of small business owners serving communities of color with the help of local CDFIs.
The Entrepreneurs of Color Fund (EOCF) program builds capacity of locally-positioned community lenders to provide capital and technical assistance to business owners who might not qualify for traditional capital. Our goal is to ensure that entrepreneurs not only weather unforseen challenges, but also advance to a prosperous future.
What is the EOCF?
The Entrepreneurs of Color Fund (EOCF) began in 2015 as a collaborative effort between JPMorgan Chase & Co. and the W.K. Kellogg Foundation in Detroit. Since then, the initiative has expanded steadily to now reach ten cities across the country.
The Entrepreneurs of Color Fund (EOCF) has over twenty CDFI partners in local markets across the country, with LISC as national manager. The EOCF is designed to get much-needed capital directly into the hands of small business owners serving communities of color, as well as provide business coaching and technical support.
Our Goals
- Help small businesses in low- to moderate-income areas.
- Provide entrepreneurs serving communities of color creative and flexible capital to meet their business needs.
- Build capacity within locally based micro- and small-business CDFIs through peer-learning opportunities and a conduit loan fund, supporting them in their work to grow their small business and commercial real estate lending and reach more entrepreneurs ready for capital.
Who We Support
Micro-, small-, and medium-sized businesses. The program deploys small business loans right-sized for the needs of your small business, from microloans up to $50,000 and larger commercial real estate acquisition loans up to $500,000 and above. Businesses can use EOCF loans how they most need them: whether that's to hire staff, pay for renovations, or acquire their location. EOCF partner CDFIs work directly with entrepreneurs to provide financing that meets their needs and sets their business up for long-term success. Are you a small business seeking capital? See our market pages to learn which partner may be best suited to fit your needs.
CDFIs. The EOCF program helps CDFIs expand their reach. LISC’s conduit loan fund also makes it possible for CDFIs to take on opportunities where risk and liquidity might ordinarily present a challenge. The Entrepreneurs of Color Loan Fund (EOCLF) purchases a participation in loans to help CDFIs free up funding for new EOC borrowers. Interested investors can learn more about Entrepreneurs of Color Loan Fund here.
Small business owners. Entrepreneurs can turn to their EOCF partner CDFI for technical assistance and advice on a range of topics including marketing, merchandising, accounting, business planning, or licensing.