LISC Los Angeles
Forging resilient & inclusive communities through equitable investments
LISC LA is one of 37 offices of the Local Initiatives Support Corporation, a national non-profit organization supporting community development in cities and rural areas throughout the country. We collaborate with community organizations, private developers, local government and schools to invest those funds in affordable housing, economic development, health and recreation, capacity building, and strategic planning efforts. This comprehensive approach builds more resilient communities throughout Los Angeles.
We know that small businesses sit at the heart of a vibrant local economy. Lending is an essential instrument in LISC’s community development toolkit. LISC’s small business loan program offers financing to small, for-profit businesses for everything from acquisition to equipment to working capital.
This three-year implementation plan supports an integrated, place-based approach to advancing economic mobility for communities in South LA. The recommendations seek to nurture South LA’s strengths, address areas of need, connect South LA residents and businesses to regional economy, and foster connection across local organizations and entities to create ladders of economic opportunity for South LA residents.
The Keep our Shops on the Block Digital Accelerator program is a virtual accelerator program where Black, Indigenous and People of Color (BIPOC) owned small businesses in the personal care, retail and food industries can access tailored, culturally appropriate and industry specific, business advising and technical assistance.
At LISC LA, we know that small businesses have taken a significant hit from the COVID-19 crisis, with Black-owned businesses hit hardest compared to any other demographic—with more than half of Black business owners seeing their revenue cut by half, and Black business ownership dropping by 41%. Additionally, the personal care sector has also seen a 45% decrease in revenue in the last year, with experts predicting this industry will have one of the longest paths to recovery amidst COVID-19.
In response to these alarming trends LISC LA is launching the Black Business Excellence Technical Assistance (BBET) Initiative: a new accelerator program that provides wrap- around business services to Black-owned businesses in the personal care industry – health, wellness, and beauty – that will take these businesses to the next level.
ASCEND LA brings together a network of non-profit lenders, education providers, and B2B market makers to provide diverse entrepreneurs with the resources and market access they need to accelerate business growth. ASCEND LA focuses on helping diverse small businesses strengthen their capacity to acquire corporate and government contracts.