Virginia Local Initiatives Support Corporation

About Us

LISC transforms neighborhoods by empowering residents and by investing human and financial resources.

We support community development organizations with grants, loans and expertise to help them construct businesses, community centers and affordable homes in low and moderate income neighborhoods.

LISC Announces a Newly Established Loan Fund in Partnership With the City of Richmond

Richmond Neighborhood Stabilization Investment Loan Fund
$1,500,000 ($500,000 in City funds & $1,000,000 in LISC funds)

There are over 2,800 properties in the City's Vacant Property Registry. Nearly 90%, or about 2300, of those are residential properties. Leveraged with private capital, the Neighborhood Stabilization Investment Loan Fund offers an opportunity to stimulate reinvestment in these properties and the surrounding neighborhoods. This low-interest (4.25%) loan fund will serve to incentivize project development on vacant properties for which traditional financing may deem a project infeasible.

The loan fund is a Collaborative effort between the City of Richmond's Department of Economic & Community Development and Virginia Local Initiative Support Corporation (LISC), who will serve as the Loan Fund Administrator.

Eligible activities will include loans for acquisition, predevelopment, and rehabilitation of residential properties located in a city identified target neighborhood or corridor. Eligible projects include 1-4 single family properties.

For further information please contact John Bolton at 804-358-7602 X16 or jbolton@lisc.org.

Download details (.doc or .pdf).

Supporting East End Entrepreneur Development

This program provides $50,000 in funding to be awarded to promising East End entrepreneurs through an annual business plan competition. This is an initiative of Bon Secours Richmond Health System and Local Initiatives Support Corporation (LISC) which works with underserved communities to address systemic issues such as job creation, education, affordable housing and community building activities that impact the health and quality of life of individuals and neighborhoods.

The SEED Program will foster and engage the community around business and job creation by funding and mentoring a new generation of business people committed to revitalizing their community. Each entrepreneur granted funding will receive business planning and coaching assistance.

The stipulation for awardees: all businesses must be located in the 23223 zip code within the city of Richmond, preferably along the 25th Street and Nine Mile Corridor.

LISC has developed the program design and application materials with support from Bon Secours and a business mentoring organization, Blueberry Marketing

Applications are available beginning on May 22, 2012 here and at www.EastEndVision.org.