LISC is ramping up its national economic development work with the launch of a new small business lender called immito. “Nothing catalyzes opportunity in a community like new businesses launching and expanding,” said Maurice A. Jones, LISC president and CEO. immito is expected to do $100 million in annual lending and will spark entrpreneurship and [...]
The Community Development Financial Institutions Fund (CDFI Fund)—part of the U.S. Department of Treasury—has awarded $700,000 to LISC for intensifying economic development in underserved rural communities. The money will seed a $10 million Fund for Rural Progress to boost investment in infrastructure, business development and job creation, all vital to combating population loss and persistent poverty in rural America.
Exciting news for communities in Baltimore, Los Angeles and Philadelphia today. As part of ESPN’s RePlay initiative, a collaboration with Under Armour and LISC, 12 community organizations will receive grants totaling $330,000 to help transform vacant lots into sports, recreation and play spaces. “Restoring vacant areas into safe, recreational sports and play spaces not only give youth a place to exercise and learn sports, they are also places that bring residents together and become a source of pride for the neighborhood”, LISC CEO and president Maurice A. Jones said.
Tedd Grain, who has spent almost a decade at LISC, first as a program officer and then as deputy director, will serve as executive director of LISC Indianapolis. “I look forward to building on LISC’s long history of collaboration with residents and partners to catalyze resilient communities in Indianapolis,” said Grain.
LISC Boston has named a new executive director to lead its expanding economic development agenda and drive new capital into housing, businesses and jobs across the Commonwealth. Karen Kelleher brings her experience to LISC Boston, which has been deeply engaged in work to help residents build job skills, improve health and safety, boost educational outcomes, spur business opportunities and create jobs, and develop high-quality, affordable housing that anchors stronger neighborhoods.From LISC Boston
JP Morgan Chase is teaming up with LISC, Accion and Fifth Third Bank on an investment effort to support the growth of minority-owned businesses on Chicago’s South and West Sides. LISC’s Maurice A. Jones joined Mayor Rahm Emanuel and Jamie Dimon, chairman and CEO of JPMorgan Chase, to announce the Entrepreneurs of Color Fund—a model built on the bank’s similar efforts in other cities--as well as related support for small business mentoring. "This work is about catalyzing opportunity so that everyone—no matter their race, or zip code, or family background—has the chance to contribute to Chicago’s prosperity, and to share in its benefits as well,” Jones said.