Asset Building for Communities of Color (ABC) Program

OVERVIEW
With a generous $20 million donation from Wells Fargo, LISC LA has established Asset Building for Communities of Color (ABC) Program. This initiative has been created to help diverse small business owners across the County of Los Angeles unlock their potential to grow, scale, create jobs, and fuel wealth creation.

PROGRAM GOALS

The Asset Building for Communities of Color (ABC) Program will provide growth capital to diverse business owners across the County of Los Angeles. LISC LA will distribute the capital with the following goals:

To produce asset building, ownership, and generational wealth opportunities for diverse business owners that are located in Los Angeles County;

  • To support the economic recovery and resiliency of diverse businesses;
  • To avoid displacement of diverse businesses and residents; and
  • To create opportunities for cooperative ownership and alternative wealth-building vehicles.

PRODUCTS

  • Growth Capital – Up to $250k for startups to purchase key assets for their business.
  • Acquisition Capital – Recoverable grants to purchase commercial and mixed-use property for business needs.

Learn more on website.