LISC Launches Real Estate Assistance Fund for Black-owned Businesses

With financial support from Cummins Inc., through its Cummins Advocating for Racial Equity (CARE) initiative, the Local Initiatives Support Corporation, LISC Indianapolis, has established the Real Estate Assistance Fund for Black-owned Businesses.

The fund provides grants of up to $20,000 to businesses seeking to purchase commercial property or retain their commercial property through capital improvements. This is the city’s first real estate fund providing grant assistance for down payments and/or closing costs specifically for Black-owned businesses.

Grant assistance is available for eligible businesses approved for a real estate loan from the Indianapolis CDFI Collaboration, a partnership of four community development financial institutions (CDFIs) that have a focus on commercial or small business lending in Indianapolis. Partners include BuildFund, Business Ownership Initiative, Bankable and LISC. Only businesses that are approved a loan from a CDFI partner will be able to access this grant fund. Grants can be applied toward down payments or loan closing costs.