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 Help Corp.’s launched its Black Financial Improvement Fund to invest in Black-owned banks and minority corporations, along with charter schools, very affordable 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 out to be the go-to manager for a quantity of neighborhood lending applications, which includes 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 Help Corp”).

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