LISC Strategic Investments

A theme running through #OFN40’s packed conference this year is the imperative of developing and retaining diverse talent, and building a pipeline of people coming into the #CDFI universe to serve communities—including their own communities. At the morning’s plenary, author and urbanist Majora Carter made the case for why talent retention must be part of community development work, so “success is not measured by how far you get away from the neighborhood you grew up in.” Two LISC programs with a big presence at #OFN40 that are doing just that are the LISC AmeriCorps Economic Mobility Corps and our #HBCU internship program, both of which receive critical support from Citi Foundation. At a gathering of LISC EMC and HBCU program participants today, LISC board member Lisa Hasegawa described her own history of coming into the field with no idea about what a CDFI was, but reminded the group that the industry is a “movement founded by organizers and people of color, and it’s your movement. So welcome to the family.” Stacey (Rapp) Grant, senior director of LISC AmeriCorps, and Anikka King, who runs the LISC National HBCU Talent Development Program, amplified the issues of inclusion, support and economic empowerment for newcomers to the field at a panel called “Cultivating Prosperity through Early-Stage Talent Development.” Through financial, employment, and life coaching, new community development professionals have a greater likelihood of staying with an industry that asks a lot of them—but that will only flourish into the future with their insight, dedication and work. And communities and local economies will flourish, too, the more committed CDFIers are able to remain in their communities if they choose to. Opportunity Finance Network

During the four days of this year’s #OFN40 conference, the energy around the greening of the CDFI sector was palpable among the 2,500 attendees: there were plenary speeches, networking events and countless conversations devoted to the topic. Plus, more than a dozen panels on topics ranging from how to design a climate lending program to multifamily decarbonization finance strategies to mobilizing private capital for GGRF work. National underwriter Noam Gross-Prinz gave an overview of LISC’s role in Power Forward Communities to deploy the coalition’s $2B in GGRF awards, decarbonizing affordable housing and training people for green jobs. And John Moon, the new president of LISC Green LLC, led a wide-ranging discussion on the landscape of GGRF in communities of color and Indian Country, stressing the urgency of ensuring that members of low-income and communities of color are integrated into the green economy (both talks were packed).   CDFI practitioners at the conference, including Opportunity Finance Network president and CEO Howard Pettigrew, emphasized that CDFIs are the prime conduit for these unprecedented federal funds for green development in low-income places because they are set up precisely to deploy dollars to the very communities most stressed by the climate crisis (OFN itself was awarded $2.29 billion through the Clean Communities Investment Accelerator (CCIA), part of GGRF, to support green energy transition financing); Oswaldo Acosta, CEO of City First Enterprises, pointed out the challenges ahead for CDFIs as they work to make decarbonization both affordable and desirable to people living on the economic margins, and that private capital will be key for realizing this enormous task across millions of households, small businesses and community spaces.   And on the topic of private capital’s hand in green community development, Dan Letendre, who spoke on behalf of #OFN40’s lead sponsor, Bank of America, announced that the bank is establishing a $50 million climate resiliency fund which he expects will grow and serve as a flexible and fast funding source for CDFIs—financial first responders—in the wake of climate disasters like this fall’s hurricanes Helene and Milton.   “People were curious and creative about how to tackle the challenges and take advantage of the opportunities,” says LISC’s Madeline Fraser Cook, of the green discussions at #OFN40. “My hope is that this translates to new strategies for community development that meet the urgency of the climate problem while being intentional about the equitable deployment of capital. This should be the new way of doing business.”

During the four days of this year’s #OFN40 conference, the energy around the greening of the CDFI sector was palpable among the 2,500 attendees: there were plenary speeches, networking events and countless conversations devoted to the topic. Plus, more than a dozen panels on topics ranging from how to design a climate lending program to multifamily decarbonization finance strategies to mobilizing private capital for GGRF work. National underwriter Noam Gross-Prinz gave an overview of LISC’s role in Power Forward Communities to deploy the coalition’s $2B in GGRF awards, decarbonizing affordable housing and training people for green jobs. And John Moon, the new president of LISC Green LLC, led a wide-ranging discussion on the landscape of GGRF in communities of color and Indian Country, stressing the urgency of ensuring that members of low-income and communities of color are integrated into the green economy (both talks were packed).   CDFI practitioners at the conference, including Opportunity Finance Network president and CEO Howard Pettigrew, emphasized that CDFIs are the prime conduit for these unprecedented federal funds for green development in low-income places because they are set up precisely to deploy dollars to the very communities most stressed by the climate crisis (OFN itself was awarded $2.29 billion through the Clean Communities Investment Accelerator (CCIA), part of GGRF, to support green energy transition financing); Oswaldo Acosta, CEO of City First Enterprises, pointed out the challenges ahead for CDFIs as they work to make decarbonization both affordable and desirable to people living on the economic margins, and that private capital will be key for realizing this enormous task across millions of households, small businesses and community spaces.   And on the topic of private capital’s hand in green community development, Dan Letendre, who spoke on behalf of #OFN40’s lead sponsor, Bank of America, announced that the bank is establishing a $50 million climate resiliency fund which he expects will grow and serve as a flexible and fast funding source for CDFIs—financial first responders—in the wake of climate disasters like this fall’s hurricanes Helene and Milton.   “People were curious and creative about how to tackle the challenges and take advantage of the opportunities,” says LISC’s Madeline Fraser Cook, of the green discussions at #OFN40. “My hope is that this translates to new strategies for community development that meet the urgency of the climate problem while being intentional about the equitable deployment of capital. This should be the new way of doing business.”

What a great way to celebrate $500M of #ImpactInvestment in Entrepreneurs of Color! Congratulations to to the Entrepeneuers of Color Fund (EOCF) program CDFIs, EOCF’s managing team LISC Small Business’ led by Steve Hall, and thank you to anchor funder JPMorganChase who made it possible! Local Initiatives Support Corporation (LISC) Entrepreneurs of Color Loan Fund

Matthew Naimi and Oren Goldenberg aren’t exactly conventional hashtag #AffordableHousing developers, and the Dreamtoit is an anything-but-conventional hashtag #AffordableHousing development. (And perhaps the only one in history to feature a flamethrower at its grand opening.) But for Detroit’s anything-but-conventional artistic community, it’s the perfect place to call home. We’re proud to see the Dreamtoit featured in Arts section of the New York Times, and proud to be hashtag #ImpactInvestors through the Detroit Housing for the Future Fund! https://lnkd.in/dk4AEWxp

Exciting news! The Entrepreneurs of Color Fund (EOCF) has officially surpassed its $500 million small business lending goal— more than two years ahead of schedule! This incredible achievement is helping close capital gaps in communities of color through loans and technical assistance, directly supporting the growth of 9,500 businesses across 10 metro areas.     LISC is proud to continue empowering local CDFIs to increase access to capital for diverse entrepreneurs who face challenges with traditional financing. But we’re just getting started! EOCF is expanding to double its impact, aiming to support $1 billion in financing for underserved businesses and communities. Learn more: https://lnkd.in/gyu_tw6v

We're wrapping up Latinx/Hispanic Heritage Month with a round-up of some of our #LISCLending projects that support Latinx and Hispanic borrowers and communities. Check them out! 👇🏾

We’re thrilled to welcome John Moon, a national expert in climate finance and social investing, as the first president of LISC Green, LLC—the entity responsible for implementing LISC's funding from the federal Greenhouse Gas Reduction Fund (GGRF). In his role, John will lead efforts to utilize our share of the GGRF funding to finance energy-efficient affordable housing, support green job creation, and provide technical assistance to help local organizations advance healthy and resilient community development projects. Read more: lnkd.in/eGrZzSXC

#OFN40 is in full swing! Make sure to catch Thursday’s Panel “Sustaining Momentum: The State of Corporate Partnerships” with Michelle Spivak, our Senior Director of Business Development, along with our partners Adam Geiger, MBA, CTP, Senior Manager, Treasury, Netflix; Meron Mathias, VP, Head of Global CSR, Thermo Fisher Scientific; Candace J. Yu, Impact Lead, Uber; and Tony Berkley, EVP and CDO of Opportunity Finance Network! https://lnkd.in/gw3Q_2Np

Come visit us at the LISC booth - just outside meeting room Platinum F! Local Initiatives Support Corporation (LISC) LISC Strategic Investments LISC LA LISC AmeriCorps LISC Upstate South Carolina LISC Memphis LISC Twin Cities Rural LISC LISC Bay Area LISC Small Business