Local Funding Opportunities
Across the country, private and public actors have quickly mobilized resources to help communities grappling with the emergency needs and economic fallout from the Covid-19 virus. According to the National Center for Family Philanthropy, the number of local funds supporting communities in distress now exceeds 200 nationwide.
LISC is actively curating funding opportunities and resources that may be helpful to our partners. Below is a list of funders organized by state that are now accepting – or soon will accept – applications from nonprofit organizations, businesses, and workers who need more support in this time of crisis.
- U.S. Small Business Administration (SBA) Disaster Loan Program
- National Center for Family Philanthropy’s COVID-19: Response and Recovery Resources for Giving Families
- Bank of America Commits $100 Million in Support of Communities Around the World Impacted by Coronavirus Pandemic
- Department of Justice: Coronavirus Emergency Supplemental Funding Program
- Giving Compass: Coronavirus and COVID-19 Funds
- Good Jobs Institute: COVID-19 Worker Relief Funds, Company Actions, and Impact on Frontline Workers
- Rackspace is offering $10M in OpenStack Public Cloud Computing Resources
- Restaurant Workers’ Community Foundation
Federal Policy Priorities
LISC Policy is monitoring developments across the board at all agencies impacting our work – including the Department of Housing and Urban Development (HUD), the Department of Agriculture (USDA), the Department of the Treasury, the Small Business Administration (SBA), the Department of Commerce, the Department of Health and Human Services (HHS), the Department of Labor and the Corporation for National and Community Service (CNCS). We are focusing our legislative efforts first and foremost on: securing additional resources and waivers for housing and community development programs at HUD, including additional funding for Section 4; and securing additional funding and relevant waivers for CDFI Fund programs.
We are working with the Low Income Housing Tax Credit (LIHTC) community to identify statutory waivers that will be needed to ensure that LIHTC properties are not deemed to be out of compliance as a result of anticipated slowdowns/stoppages in activities related to construction, inspection, government reviews, etc.; and to get a permanent fix to set a minimum rate on the 4% credit, which as a result of the cost of federal funds, is now at an all-time low of less than 3.2%.
We are also working with the New Markets Tax Credit (NMTC) community to try and secure an additional $1.5 billion of tax credit allocation authority to be retroactively added to the 2019 allocation round, which would then bring that round (expected to be announced in early summer) up to $5 billion.
Policy Alerts & Updates
- President Signs Coronavirus Economic Relief Bill into Law (March 2020)
- House Passes Coronavirus Economic Relief Bill (March 2020)
- Senate Passes Coronavirus Economic Relief Bill (March 2020)
- Coronavirus Stimulus Legislative Package Update (March 2020)
- Deal Reached on Coronavirus Stimulus Legislative Package (March 2020)
- Coronovirus Economic Stimulus Legislative Update (March 2020)
- Federal Legislative Updates (March 2020)
- Center for Disease Control (CDC): CDC Coronavirus Facts and Information
- Chamber of Commerce: 5 Resources to Help Your Small Business Survive the Coronavirus
Coronavirus Response Toolkit
- Department of Justice: COVID-19 Fraud Report
- Housing and Urban Development (HUD): COVID-19 Information and Resources
- Federal Housing Finance Agency (FHFA): FHFA Suspends Foreclosures and Evictions for Enterprise-Backed Mortgages
- Small Business Administration (SBA): COVID-19 Small Business Guidance & Loan Resources
Disaster Loan Assistance