Costco commits $25 million to LISC’s Black Financial Improvement Fund

Costco commits $25 million to LISC's Black Economic Development Fund

ImpactAlpha, September 1 – The Nearby Initiatives Assistance Corp.’s launched its Black Financial Improvement Fund to invest in Black-owned banks and minority enterprises, along with charter schools, cost-effective housing projects and athletic facilities in Black communities. Costco’s $25 million commitment to matches $25 million from Netflix. LISC is targeting $one hundred million for the fund.

LISC has turn into the go-to manager for a quantity of neighborhood lending applications, like the $one hundred million New York Forward Loan Fund, as cities, corporations and other organizations appear to meet the existing racial justice movement in the U.S. and the COVID crisis, which is disproportionately impacting communities of colour (see, “Maurice Jones, Nearby Initiatives Assistance Corp”).

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