LISC Entrepreneurs of Color Fund — Small Business Loans
Local Initiatives Support Corporation (LISC)
Up to $500,000+
National fund matching minority-owned businesses to CDFI loans in 10 cities
The LISC Entrepreneurs of Color Fund (EOCF) is a national initiative that channels capital through 24 CDFI partners in 10 metro areas to underserved minority-owned small businesses. LISC manages the national fund and matches applicants to local lending partners who provide microloans (up to $50,000) and larger commercial real estate acquisition loans (up to $500,000+). Cities served include Atlanta, Chicago, Detroit, Los Angeles, Miami, Newark, New Orleans, New York City, Oakland, and Greater Washington, D.C. Since launch, the fund has supported over 9,500 loans and surpassed $500 million in total small business lending.
- Funding type
- Loan
- Level
- Private
- Amount range
- $5,000 – $500,000
- Realistic amount
- Most EOCF loans are microloans of $10,000–$50,000 for working capital, equipment, and expansion. Commercial real estate…
- Deadline
- Rolling — applications reviewed continuously. Note: funding is limited and not all applicants will receive loans.
- Status
- active
- States
- GA, IL, MI, CA, FL, NJ, LA, NY, DC, MD, VA
- Payment model
- loan
Who qualifies
- Business must be located in one of the 10 EOCF metro areas: Atlanta, Chicago, Detroit, Los Angeles, Miami, Newark, New Orleans, New York City, Oakland, or Greater Washington, D.C.
- Minority-owned business (Black, Latino, or other communities of color — specific definition may vary by partner)
- For-profit small businesses; various stages from startup to established
- Specific eligibility requirements depend on the matched local CDFI partner — rates, collateral, credit requirements vary by partner
- Submission of a business questionnaire is the first step — LISC does not guarantee approval or matching
Hard requirements
- Minority ownership required
- Location restriction: One of 10 EOCF metro areas (Atlanta, Chicago, Detroit, Los Angeles, Miami, Newark, New Orleans, New York City, Oakland, Greater Washington DC)
What it covers
Eligible expenses
- Hiring and payroll
- Renovation and leasehold improvements
- Equipment and machinery
- Working capital
- Commercial real estate acquisition
- Inventory
- Technology and software
Ineligible expenses
- Personal expenses unrelated to the business
- Businesses outside the 10 EOCF metro areas
- Non-minority-owned businesses
How to apply
-
1
Complete the LISC EOCF business questionnaire
Visit lisc.org/eocf/small-business-owners and complete the business questionnaire. Provide basic business information — type, location, revenue, and financing need. Takes approximately 15–20 minutes.
~0.25 hrs
-
2
Review matched local CDFI lenders
After submitting the questionnaire, LISC will show you a list of local CDFI lenders whose products match your qualifications. Each lender operates independently with their own underwriting criteria, rates, and processes.
~0.5 hrs
-
3
Apply directly to matched CDFI partner
The matched local lender will contact you requesting additional documentation. Each CDFI has its own application process — typical documents include bank statements, tax returns, business plan, and financial projections. Timeline varies by lender.
~4 hrs
-
4
Loan approval and disbursement
Local CDFI partner underwrites and approves (or declines) the loan. Approval timelines vary by partner — typically 2–6 weeks from complete application. Funds disbursed directly by the local CDFI.
~0.5 hrs
The EOCF matching process is a one-stop application to multiple local CDFI lenders — submitting the LISC questionnaire once gets you in front of up to several local partners without multiple applications. The quality and speed of matched lenders varies significantly by city — large CDFIs like Accion (Chicago/NY) or TruFund (NY/Atlanta) process faster than smaller community lenders.
Deadline & timing
LISC reviews business questionnaires on a rolling basis and matches to local CDFI lenders. Processing time depends on volume at the matched partner. EOCF has surpassed its $500M goal and is expanding toward a $1B target — program remains active with expanded capacity.
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Last reviewed 2026. GrantCompass is an independent funding-discovery tool and is not affiliated with any government agency. Always confirm details on the official program page.