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Small Business Analytics and reviews 2020
Black-owned businesses and communities of color have historically faced, and continue to face, exclusion and disinvestment from many traditional financial institutions. However, other types organizations have stepped in to provide financial resources to those who have historically lacked access.
Community development financial institutions (CDFIs) are private financial institutions with a mission of providing affordable lending to help disadvantaged communities join the economic mainstream. CDFIs provide lending to a number of sectors including small business owners, nonprofits, commercial real estate developers and affordable housing developers. According to the Opportunity Finance Network and the U.S. Treasury Department, there are over 1,100 CDFIs operating in all 50 states, including 98 in the state of California and 23 in Los Angeles County.
Los Angeles Local Development Company (LDC) is a CDFI founded in 1980 to serve Los Angeles neighborhoods that suffered from redlining and other forms of disinvestment. Their clients include businesses and organizations in Leimert Park, View Park-Windsor Hills, Baldwin Hills/Crenshaw and West Adams, and many other neighborhoods. Since 1995 they have facilitated over $400 million of financing with borrowers operating in historically low income and disinvested communities throughout California, with a primary focus in Los Angeles.
Since the start of the pandemic, Los Angeles LDC has been working to identify strategies that bring greater innovation and access to a variety of capital and advisory services for Black and Latinx-owned businesses in the Los Angeles area. It has a successful track record in raising and deploying capital from regulated financial institutions in a private equity structure, with a $10 million portfolio of loans where 85% of the borrowers were people of color.
Lincoln Heights Spotlight
USC Civic Engagement
Lincoln Heights Spotlight of Education
USC launches new Scholarship Program
Lincoln Heights Spotlight on Business
Lincoln Heights Spotlight on Education
Rebuilding Vision For Lincoln Heights
The Lincoln Star Magazine
Need some fun? Here’s a list of over 17 cool things to do right now!
Business Spotlight of The Month
Clean Energy on the Rise in California!
Staying active with Summer Reading.
Gayle Anderson was live in Los Feliz to explain that during the current Covid-19 pandemic crisis with schools closed, the Los Angeles Public Library wants all of us to “Get in the Game” this Summer by reading every day! Young people can earn a badge for every six days of reading and work toward their personal best. They can raise their game by exploring the library’s vast resources now through August 31st.
This challenge encourages us to read books, graphic novels, magazines, e-books – all reading counts!
High Speed Rail new released info
Business Spotlight of The Month
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Businesses in Lincoln Heights will be awarded new loan opportunities
