Local Initiatives Support Corporation (LISC) will distribute $80,000 in grants to minority-owned small businesses in the Indianapolis area thanks to funding from First Financial Bank.
The grants are meant for businesses with a limited number of employees. The funds received from First Financial Bank will support a fourth round of grants from LISC that are meant to address challenges brought by the COVID-19 pandemic.
“Moving into 2021, the need to invest in these businesses persists,” LISC Assistant Program Officer Natalia Rodriguez-Hilt said in a press release. “Our hope is to continue supporting Indianapolis small businesses as they recover from the impact of the pandemic.”
First Financial Bank committed to spend $1.7 billion to help minority-owned business and businesses in emerging markets as part of a five-year plan in 2018.
“Providing funding through local economic development organizations such as LISC is reflective of the creative approach we’re using to help these businesses access working capital so they can grow and benefit their home communities,” Roddell McCullough, the bank’s director of community development, said in the press release.