CARE collaborates with LISC Indianapolis and the Indy Black Chamber of Commerce to provide resources to strengthen Black-owned businesses

Indianapolis, Indiana – Cummins Inc. (NYSE: CMI) through the Cummins Advocating for Racial Equity (CARE) initiative has partnered with LISC Indianapolis and the Indy Black Chamber of Commerce to establish a real estate assistance fund to provide grants up to $20,000 for Black businesses in Indianapolis. The funds are earmarked for businesses looking to purchase commercial property, or retain their commercial property through capital improvements.

“CARE announced the partnership with LISC and the Indy Black Chamber in March 2021,” said Fernando Herndon, Cummins Executive Director, External Diversity and Inclusion Initiatives and CARE leader. “Creating economic empowerment by building Black wealth and income is a key focus area of CARE, and providing grant funding with real estate education and marketing support increases the rate of success for these businesses.”

For a business to be considered for a real estate funding grant, the business must be seeking a loan from a Community Development Financial Institute (CDFI) Collaborative partner (Bankable, BOI, BuildFund, or LISC) for:  
•    Purchasing commercial property ranging $100,000 - $1,500,000
•    Completing capital improvements (at least $100,000) to existing commercial real estate owned by a Black business
•    Black-owned business located in Indianapolis/Marion County
•    Business annual gross revenue of $2,500,000 or less
•    Business operating at least two years (exceptions are case by case)

The requests will be evaluated on case-by-case basis to ensure alignment of this fund.

Cummins launched CARE in July 2020 as an initial step to help undo the systemic discrimination against the Black community in the U.S.