Community Foundation for Greater Atlanta’s impact investment fund, the GoATL Fund (GoATL), has closed on a $1.5 million loan to Local Initiatives Support Corporation (LISC) that will seed their emerging Atlanta loan fund. The investment will fund initiatives that increase access to healthcare, healthy food and financing in underserved neighborhoods in metro Atlanta.
 
LISC is a national community development financial institution (CDFI) that provides financing and support for community development around the country. As one of over 30 local offices across the U.S., LISC Atlanta opened in 2019 to work with local government, community development corporations and other nonprofits, philanthropies and businesses to revitalize targeted neighborhoods and catalyze opportunity for local organizations and residents. LISC has invested over $20 billion across the U.S. since 1979, resulting in 400,500 affordable homes and apartments, 98 healthy food projects, 90 health projects, 32 theaters and performance spaces, 212 schools, 227 early childhood centres, 391 recreational spaces and hundreds of other initiatives.
 
“LISC is one of the country’s most impactful CDFIs, and we are thrilled to work alongside them as they open up an office here in Atlanta,” said Mark Crosswell, managing director, social impact strategy at Community Foundation for Greater Atlanta. “Their investments catalyze improved outcomes in communities, which is exactly what we are trying to do – increase equity of opportunity while making modest financial returns.”
 
This investment marks a total of $9.25 million now advancing affordable housing, education, food access, healthcare and small business development through the GoATL Fund. Launched in 2018, GoATL is the first impact investing fund of its kind in Georgia and enhances the Community Foundation’s traditional grantmaking through flexible, low-cost loans that seek measurable social returns, as illustrated in this video. In its first year alone, GoATL investments sparked 170 multi-family affordable housing units, 120 affordable single-family homes, 15 small business loans and one new school that will grow to nearly 650 students at capacity.
 
“As we open in Atlanta, we’re proud to count the Community Foundation for Greater Atlanta among our partners and investors,” said Dale Royal, executive director with LISC Atlanta. “This investment will create opportunities that reach across race, class and community boundaries so that all Atlantans – no matter where they live – can tap into economic opportunity.”
 
The GoATL Fund invests flexible debt in initiatives that address the Community Foundation’s mission to use philanthropy to drive equity and opportunity across the metro Atlanta region. To create efficiencies and leverage even more funding, GoATL often partners with intermediaries like LISC, and other CDFIs, that have the knowledge and expertise to effectively structure loan capital to support solutions addressing critical needs in our region.