Forward Together

Local Initiatives Support Corporation (LISC) Ramping Up its Investment Activity in the Puget Sound Region

The Local Initiatives Support Corporation (LISC), one of the country’s largest community development organizations, is ramping up its investment activity in the Puget Sound region, opening a full-service program office here with a top economic development official at its helm. Brian Surratt, who previously served as director of the city of Seattle’s Office of Economic Development, has been named as executive director of LISC Puget Sound. The opening of LISC Puget Sound renews and expands the organization’s long-standing commitment with ambitious plans to support economic opportunity and community gains.

In 1979, when the Ford Foundation first conceived of LISC, it envisioned an “intermediary”—a nimble non-profit with strong community partnerships that connects public and private resources with underinvested people and places. The premise remains true: government, foundations, and for-profit companies have the capital – residents and local communities understand the need – and LISC bridges the gap by offering the relationships and expertise to help community organizations attract resources that allow them do their best work.

LISC receives funding from banks, corporations, foundations, and government agencies. We, in turn, use that funding to provide financing and technical and management assistance to our vast network of community-based partners to make investments in businesses, jobs, housing, jobs, education, and health. We provide direct financing while also building out coordinated assistance for small enterprises overlooked by conventional financing channels. We strategically support businesses in low and moderate-income communities, as well as businesses owned by veteran, woman, and BIPOC entrepreneurs.

LISC is a mission-based lender, offering business loans of $100,000 to $500,000 for permanent working capital, leasehold improvement, and equipment. LISC also provides commercial construction and acquisition loans from $500,000 to $5 million.