Supplier Diversity

Minority-owned businesses (the fastest-growing sector in the small business universe) historically have been cut off from the capital and other support available to other entrepreneurs. We know this inequity is bad for business, for families, for communities and for the economy as a whole: leveling the playing field between Black-owned and white-owned businesses alone would add an estimated $290 billion to the economy, according to McKinsey.

LISC is focused on helping entrepreneurs operating in communities of color to grow and compete. And part of that is advancing supplier diversity, so that these entrepreneurs can successfully vie for and fulfill corporate procurement contracts. This work is integral to our commitment to helping narrow health, wealth and opportunity gaps.

To that end, we are offering growth capital and low-cost loans to businesses operating in communities of color as well as technical assistance and coaching to ready entrepreneurs to become part of corporate supply chains and build capacity for the future. This includes supporting enterprises with certifications and compliance issues such as cybersecurity, cash flow, insurance and bonding requirements.

Supplier diversity is a win-win proposition: it promotes racial and gender equity in the procurement world. It helps business owners create jobs and build wealth for the next generation. And, it creates a more inclusive and agile supply chain, so that industries such as healthcare, banking and manufacturing can better meet the needs of customers and clients.

We welcome corporate partners to join our efforts. Please connect with us at development@lisc.org.

If you are an entrepreneur looking to grow your small business and compete for procurement contracts, see below for opportunities available through LISC.

Current opportunities