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General Fund FAQs

What is the Black Economic Development Fund (BEDF)?


The Black Economic Development Fund (BEDF) is a private investment fund managed by LISC Fund Management, LLC (LFM) an affiliate of Local Initiatives Support Corporation (LISC) Strategic Investments (SI). The BEDF’s primary objective is to target Black-led or Black-owned financial institutions, developers, businesses, and anchor institutions with improved access to capital in order to incentivize economic activity and wealth building opportunities in Black communities.




What does Black-led mean?


“Black-led or -owned” means (i) 50.1% or more Black-owned, (ii) having a majority of Black board members or persons exercising similar functions, or (iii) predominantly serving the Black community by having a majority of Black customers or having a majority of its operations in Black neighborhoods.




Does the BEDF only invest in Black-led organizations/businesses?


The BEDF targets Black-led or -owned businesses, but is not the sole requirement. The investment committee comprehensively looks at the overall impact and financials for each investment.




Who does the BEDF invest in?


The BEDF’s primary objective is to invest in Black-led:

  • Financial institutions
  • Anchor organizations
  • Businesses
  • Real estate developers




Is the BEDF a grant fund or provide grant funding?


No. The BEDF is an investment fund aimed to increase access to capital for Black-led organizations and institutions.





Borrower FAQs

What are the eligibility requirements for the BEDF funding?


Eligibility requirements for each type of borrower (business/nonprofit, real estate, bank, anchor institution) can be found via the respective links on the BEDF website.




What products does the BEDF offer? And where can I find more information?


The BEDF offers a variety of equity & debt products for each type of borrower. More information can be found from following respective links on the BEDF homepage.




I have an existing relationship with LISC, am I ineligible?


Absolutely not. We welcome organizations who have an existing relationship with LISC to applying for the BEDF funding. When applying, please let your current LISC point of contact know of your application for BEDF funding.




What type of investment capital does the BEDF provide?


The BEDF provides 0-5 year term debt and deposits to depository institutions.





Process FAQs

When can I apply for investment from the BEDF?


The online pre-application is now open and can be accesssed on the BEDF website.




What information do you need to applying for investment?


Please visit the respective portal on the BEDF website.




I know someone looking for investment, where should I direct them?


Please direct the potential borrower to the BEDF Website for more information.




What happens after I camplete the online pre-application?


After you submit the online pre-application, we will reach out to qualified borrower applicants in about 7-14 days. Please make sure to read all qualifications and complete the applicaiton as thoroughly as possible.