LISC CEO Maurice A. Jones recently joined Bill Bynum, CEO of HOPE Credit Union, and Shannon Alwyn and Aaron Mitchell of Netflix, for a Netflix webinar on strategies to spark economic opportunity and wealth creation in Black communities.
The wide-ranging conversation took place on the heels of a $25 million partnership from Netflix to LISC for investment in Black banks and other entities to ramp up economic activity that benefits Black communities.
"We are taking Netflix’ $25 million as seed investment for a much larger $250 million fund to both make deposits in Black-led banks and CDFIs" said Jones, "and provide capital for bridge and pre-development financing, participation lending and co-investments that ultimately reach Black small businesses."