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Local Leaders Announce Impact Lending

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Boston Mayor Marty Walsh joins leadership from Northeastern University and LISC Small Business President and CEO Kevin Boes at the Bolling Building in Roxbury, to announce the launch of the region's first university-supported loan program for women- and minority-owned businesses. This initiative, called the Impact Lending program, enables local small-business owners to secure loans, at below-market interest rates, to acquire crucial resources to expand their businesses.

 

Impact Lending for Local Small Businesses

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We're thrilled to announce Impact Lending, an initiative between Northeastern University and LISC to help Boston small businesses access capital and connect to contract opportunities at Northeastern. Impact Lending will pour $6.5 million in loans and technical assistance into the small businesses that create jobs, drive economic growth, and add character to Boston's neighborhoods. Read about this innovative new program in the Boston Globe, and check out our own Kevin Boes on Boston Neighborhood Network News.

   

New support for local businesses

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Northeastern University has teamed up with the Local Initiatives Support Corporation (LISC) on a program that will drive loans and university contract opportunities to small businesses in Boston—with a particular focus on women- and minority-owned enterprises in low-income neighborhoods. The initiative, called Impact Lending, will enable local entrepreneurs in nine zip codes near the university to secure loans at below-market interest rates so they can grow their businesses.

Northeastern has committed $2.5 million in seed funding, which supports a revolving loan fund of more than $6.5 million. The university is partnering with LISC, a national nonprofit that has invested $16 billion to revitalize distressed communities across the country, to make and manage the loans, which will range from $1,000 to $1 million. LISC considers Impact Lending a model for leveraging the buying power and community engagement of anchor institutions—one that could steer tens of millions of dollars in growth capital to underserved enterprises. 

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Report: Fairmount Indigo Corridor Job Retention and Attraction

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Increased prosperity in Greater Boston has not impacted all of the City of Boston’s neighborhoods equitably.  LISC Boston, The American City Coalition, and Initiative for a Competitive Inner City formed a working group to  examine how key commercial and industrial clusters in Newmarket and Readville can be strengthened and expanded to create jobs for Boston residents who need them most. In this report, we present our place-based recommendations to bring these economic gains to the 135,000 residents living in the Fairmount Indigo Corridor.

   

To Strengthen Neighborhoods, Police-Community Collaboration is Essential

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In a  forceful op-ed for USA Today, Maurice Jones, LISC CEO, and Jim Bueermann, a former police chief, show how investing in authentic police-community partnerships and neighborhood renewal is imperative for a safer, healthier country. It’s something people of all political stripes can agree on—because every American benefits. Read the article.
   

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Photo by Darlene DeVita Photography

Boston LISC Staff Blog

Boston LISC Staff members share their perspective on LISC's work, the community development world. and many other topics.

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