Portsmouth, VA — February 13, 2023 — Local Initiatives Support Corporation (LISC) Hampton Roads, the local office of the nation’s leading community development investment organization, released its 2022 Annual Report – demonstrating the organization’s continued commitment to providing resources that support initiatives aimed at affordable housing, financial stability, economic resiliency, and small business development. Through various funding programs, LISC Hampton Roads has invested over $4 million in the Hampton Roads region and throughout the Commonwealth of Virginia.
According to the report, LISC Hampton Roads awarded over $1,000,000 by way of Sentara Healthcare resources across several grantees providing financial support to small businesses and organizations in the affordable housing space. The organizations include:
“LISC is committed to forging resilient and inclusive communities of opportunity in which to live, work, visit, do business, and raise families – this is the foundation of every initiative, grant, and loan we administer,” said Jay Grant, Executive Director, LISC Hampton Roads. “Through our unique and targeted offerings in affordable housing, small business assistance, wealth building, and beyond, LISC Hampton Roads helps solidify the region as a resilient community of opportunity for all.”
In response to the lingering impact of the COVID-19 pandemic on the small business community, LISC Hampton Roads extended its partnership with United Way of South Hampton Roads and the City of Virginia Beach — providing over $3 million to eligible businesses through the VBthrive Business Relief Grant Program. LISC Hampton Roads is currently accepting applications for the fourth and final round of VBthrive — now through February 28. The grant program targets two categories of applicants — small businesses and businesses in the hospitality and tourism industry. Grant awards will range from $10,000 to $50,000 based on the number of employees.
LISC Hampton Roads recently announced the Expand 757 Small Business Loan Program — a Virginia Department of Housing and Community Development-funded program that provides 0% interest, $0 fee loan financing, and coaching services to small businesses throughout the Hampton Roads region. Through this program, LISC Hampton Roads has created a sustainable investment tool for the small business community as repayments are recycled back into the fund, allowing for continuous availability of zero percent interest loans.
Business owners are encouraged to apply for funding through VBthrive and Expand 757 online. For more information on these programs or to view the full annual report, visit lisc.org/hampton-roads.
Local Initiatives Support Corporation (LISC) is a national nonprofit that provides financing and support for community development around the country. As one of 38 local offices, LISC Hampton Roads works with local government, community development corporations, and other nonprofits to revitalize neighborhoods and catalyze opportunity. With residents and partners, LISC Hampton Roads forges resilient and inclusive communities in Hampton Roads — contributing to regional efforts to create great places to live, work, visit, do business, and raise families.