Stories
Moving Toward $1 Billion: What’s Next for the LISC Entrepreneurs of Color Fund
In the blog below, Steve Hall, EOCF National Director and LISC Vice President of Small Business, explores what’s next for the Entrepreneurs of Color Fund as it hits its $500 million goal—ahead of schedule. Hall describes a borrower-informed strategy for the next three years that will build on and leverage climate resiliency and artificial intelligence efforts to expand loan products and get more capital into the hands of entrepreneurs who need it.
Vision Quest: This Can-Do Indianapolis Company Is Growing its Business—and a Healthier, More Diverse Supply Chain
Quest Safety Products, a small, minority-owned distributor and maker of personal protective equipment and other safety products, has a 27-year track record of meeting customer needs. Now growth capital from the Abbott-LISC Initiative to Support Diverse Businesses in Health is helping CEO Sam Yadav realize an expansion, boosting resiliency in a supply chain that’s vital to us all.
Helping More People Get the Mental Health Care They Need
After a student’s tragic death, former teacher Elizabeth Alegría founded Gramercy Specialty Clinic, a Texas-based behavioral healthcare organization focused on serving diverse populations and addressing mental health barriers in Latino communities. With a $150,000 investment from the Abbott-LISC Initiative to Support Diverse Businesses in Health, Alegría is expanding Gramercy’s virtual services and developing a technology app to scale the organization across several states.
CDFI Serving African Immigrants in the Twin Cities Increases Capacity With Help From LISC
Dr. Gene Gelgelu founded African Economic Development Solutions (AEDS) in St. Paul, MN to help fellow African immigrants build wealth through entrepreneurship and homeownership. LISC has been by his side, offering guidance and support, since the organization’s inception. Our latest contribution: nine LISC AmeriCorps - Economic Mobility Corps members who enhance the capacity of AEDS while getting a taste of what it’s like to work in community development.
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.
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.