Stories
Mass Timber Housing Brings Sustainable and Affordable Hope to a New Haven, CT Community
Beulah Land Development Corp. is working in partnership with New York-based construction company Spiritos Properties, and housing nonprofit HELP Development Corp., to develop vacant lots at 340 Dixwell Ave. into a 69-unit mixed-use project. The $28 million project was partly financed by the National Equity Fund (NEF)—a LISC affiliate focused on LIHTC and other housing investments. 340 Dixwell is the first Low-Income Housing Tax Credit (LIHTC) project on the East Coast utilizing mass timber, an eco-friendly alternative to steel and concrete, and will include 55 affordable units for low-income households earning 60 percent or less of the area median income, and an additional 20 units for people experiencing homelessness.
LISC Entrepreneurs of Color Fund Reaches $500M Goal, Sets New Benchmark of $1B in Small Business Lending
LISC announced today that the Entrepreneurs of Color Fund (EOCF) has surpassed its $500 million goal for small business lending across the country—more than two years ahead of schedule. LISC is now expanding the program to double its impact, aiming to support $1 billion in financing for underserved businesses and communities. “We are working to level the playing field—to connect promising but overlooked businesses to affordable financing so that whole communities can benefit from economic development and growth,” said Steve Hall, LISC vice president of Small Business Lending.
Consulting Firm’s Efforts to Deliver New Therapies to Patients Faster is Bolstered by LISC
Jeanette Towles founded Synterex, a clinical and regulatory consulting firm, to help life science companies deliver new therapies to patients faster. When she hit capital roadblocks as she worked to grow her business, LISC stepped in to help. Learn how $1 million in affordable capital from the Abbott-LISC Initiative to Support Diverse Businesses in Health is helping Towles develop an artificial intelligence tool that will fuel Synterex’s growth.
Black-owned Embroidery Business Sews a Missing Thread in Alabama
Alabama-based Epiphanys recently received a $350,000 acquisition loan from LISC to expand its capacity to serve federal agencies and fuel growth through new contracts. The loan was supported by Truist, Mackenzie Scott, and the Wells Fargo Open for Business Fund.
Emergency Management Consulting Firm is Charting New Territory, with Help From LISC
Houston-based Laveer Logix recently received a $260,000 working capital loan from LISC to expand its capacity to serve federal agencies and fuel growth through new contracts. The loan was supported by the Abbott-LISC Initiative to Support Diverse Businesses in Health and the LISC Entrepreneurs of Color Fund supported by JPMorganChase.
Empowering Change: One Expert’s Approach to Strengthening CDFIs and Small Businesses
The Entrepreneurs of Color Fund (EOCF) is designed to get much-needed capital directly into the hands of small business owners serving communities of color, and works through over 20 CDFI partners in local markets across the country, with LISC as national manager. Kim Buttemer, a small business finance expert who now works with EOCF as an advisor shares her insight into how CDFIs can support organizations’ growth.