Part of a broad effort to connect low-income residents to new economic opportunities, the grant will help LISC's Financial Opportunity Centers provide educational services, skills-based training, job placement services, and financial coaching to twenty-two-thousand people, enabling participants to boost their incomes, build credit, better manage their debt, and save for the future.
To that end, the flexible funding will support the work of twenty-one of LISC's urban program offices, as well as its national rural investment program. LISC offices participating in initiative include Boston, Buffalo, Chicago, Connecticut (statewide), Detroit, Hartford, Houston, Jacksonville, Florida; Kansas City, Missouri; Los Angeles; New York City; Newark; Philadelphia; Phoenix; Rhode Island (statewide); San Antonio; San Francisco; San Diego; Virginia (statewide); Washington (statewide); and Washington, D.C.
A longtime supporter of LISC, Bank of America has provided a total of $1.4 billion in grants, loans, and equity to the community development organization.
"The health of our communities rests squarely on the well-being of the people who live there," said LISC president and CEO Maurice Jones. "This grant provides vital operating capital to help attract grocery stores, health centers and manufacturers to areas undergoing transformation, while also supporting efforts to increase neighborhood safety and provide families with tools to build a more stable financial future."