LISC raises $400 million in early capital for Project 10X to address deep racial disparities, promote growth and opportunity
National CDFI is rolling out first investments as part of $1 billion Project 10X plan
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NEW YORK, May 24, 2021 /PRNewswire/ The Local Initiatives Support Corporation (LISC) today announced that it has raised more than $400 million for its Project 10X initiative to bridge racial gaps in health, wealth and opportunity bringing it 40 percent of the way to its $1 billion goal for the 10-year investment effort.
LISC, one of the nation s largest community development financial institutions (CDFIs), launched Project 10X in November 2020. The initiative builds on more than 40 years of LISC investments in affordable housing, economic development, health, safety, education and jobs, all designed to create opportunity for people and communities that have been excluded from full participation in the nation s pros
LISC posts record $2B in community investments for 2020
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NEW YORK, March 15, 2021 /PRNewswire/ The Local Initiatives Support Corporation (LISC) today announced that it made more than $2 billion in community investments during 2020 a new record for the 41-year-old national nonprofit that was driven in part by programs related to COVID-19 relief and racial justice.
The expanded activity included nearly every aspect of LISC s work, from increased affordable housing support to new funding for small businesses to deep engagement with partners around health, education, safety and jobs. It spanned some $1.5 billion in equity investments, $290 million in community development loans and $240 million in grants more than four times the level of grantmaking in the prior year.