Community Progress Makers Award Accelerates LIIF’s Early Care & Education Small Business Work
The Low Income Investment Fund (LIIF) has received a $500,000 grant from the 2018 Community Progress Makers Fund, an initiative of the Citi Foundation. These funds will allow LIIF to expand its Early Care & Education (ECE) work in New York City with an ECE Small Business Program.
“Support from the Community Progress Makers Fund will build on LIIF’s 20 years of experience investing more than $130 million in high-quality early childhood education,” said LIIF President & CEO Dan Nissenbaum. “By providing a suite of business development services, this program will be transformational for business owners and their communities, creating a triple halo effect: financially stronger small businesses, high-quality early education for children, and broader economic opportunity through community jobs and support for working parents.”
New York City’s ECE small businesses have grown by more than 250% in the last two years under Mayor de Blasio’s ‘Pre-K for All’ initiative. These small businesses, predominately minority- and women-owned, play a critical role in the local economy and serve low- and moderate-income children and families. LIIF’s program will provide ECE providers with services and tools to help them grow their businesses and support their long-term sustainability, while serving the youngest New Yorkers.
The ECE Small Business Program builds on LIIF’s extensive track record of investing in and improving more than 270,000 slots at high-quality early childhood education facilities across the nation. LIIF’s Child Care Facilities Fund in San Francisco is a national model for delivering capital and technical assistance to ECE providers. LIIF’s ECE work also includes launching the Los Angeles ECE Bridge Fund, a Universal Pre-K Fund in New York and, most recently, an award from Washington, DC to expand ECE in the District.
The Community Progress Makers Fund is a $20 million, two-year initiative led by the Citi Foundation. LIIF joins a group of 40 change agents who are playing a key role in coordinating the efforts of multiple partners toward common goals, and working in new ways to address urban challenges in Chicago, Los Angeles, Miami, New York City, the San Francisco Bay Area, and Washington, D.C.