New York Forward Loan Fund’s $100 Million Credit Facility


Morgan Lewis represented Calvert Impact Capital and Local Initiatives Support Corp. (LISC) in the agreement.

The New York Forward Loan Fund was established with support from Calvert Impact Capital, and the Local Initiatives Support Corporation (LISC) is administering the SPV.

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.

Morgan Lewis represented Calvert Impact Capital and Local Initiatives Support Corp. with a team including Partners Patricia Brennan (Picture), Matthew Schernecke, and Paul St. Lawrence, associate Albert Tsoi, and senior attorney William Springer.

Involved fees earner: Patricia Brennan – Morgan Lewis; Matthew Schernecke – Morgan Lewis; William Springer – Morgan Lewis; Paul St. Lawrence – Morgan Lewis; Albert Tsoi – Morgan Lewis;

Law Firms: Morgan Lewis;

Clients: Calvert Impact Capital; Local Initiatives Support Corporation;

Author: Ambrogio Visconti