LISC (Local Initiatives Support Corporation) Jacksonville recently awarded nearly $1 million to multiple small businesses from Jacksonville’s most under-resourced communities.
The $1 million grant, which was secured by Jacksonville City Council President Samuel Newby, supported LISC Jacksonville’s Small Business Equity Fund, an equity investment fund created to empower small businesses, help them grow, and seed wealth building in challenged neighborhoods.
To be eligible, small businesses with under $2 million in annual revenue must meet a variety of criteria. Mainly, they must be located in or serve historically under-resourced neighborhoods the very communities in which LISC Jacksonville operates and have been in continuous operation for more than two years in Duval County. Applicants must also submit a business growth plan outlining plans for expansion and job creation and provide realistic and promising ideas for leveraging the investment funds.
A majority of the funds have been allocated to more than 20 local small businesses, yet funds remain, and small business owners are encouraged to apply for the remaining dollars and also be in the pipeline for future funding opportunities from LISC Jacksonville.
Local Initiatives Support Corporation (LISC) helps residents transform distressed neighborhoods into healthy, sustainable communities that are good places to live, work and play. Since 1999, LISC Jacksonville has invested nearly $500 million in Jacksonville’s urban core neighborhoods, including developing affordable housing as well as retail and community space, and helped create more than 3,000 jobs. Additional eligibility requirements and application instructions are available at www.lisc.org/jacksonville.