Press Release

Morgan Lewis Advises on $100M+ Credit Facility for NY Communities Impacted by COVID-19

Friday, May 22, 2020

NEW YORK, May 22, 2020: Morgan Lewis is representing Calvert Impact Capital and Local Initiatives Support Corp. (LISC) in the agreement for an $100+ million credit facility to support the New York Forward Loan Fund. The credit facility will support small businesses, nonprofits, and small landlords impacted by the coronavirus (COVID-19) crisis in New York state.

Calvert Impact Capital is a mission-driven financial institution dedicated to creating a more equitable and sustainable world and has moved more than $2 billion in investor dollars into communities since its inception. LISC is a US nonprofit financial institution that supports community development initiatives in 35 cities and across 2,100 rural counties in 44 states.

Partners Patricia Brennan, Matthew Schernecke, and Paul St. Lawrence, associate Albert Tsoi, and senior attorney William Springer represented Calvert Impact Capital and LISC.