Local Initiatives Support Corporation 28 Liberty Street, 34th Floor, New York, NY 10005 • (212) 455-9800 • www.lisc.org LISC Impact Notes This prospectus supplement no. 3 (this “supplement”) supplements and amends the prospectus, dated October 19, 2020, as supplemented from time to time (the “prospectus”), relating to the offer and sale of up to $150,000,000 in aggregate principal amount of LISC Impact Notes. Incapital Change of Name to InspereX Incapital LLC’s name will change to InspereX LLC effective July 1, 2021 (“effective date”). From and after the effective date, all references to Incapital LLC in the prospectus are hereby deleted and replaced with references to InspereX LLC. You should read this supplement together with the prospectus, including the more detailed information about LISC and the risk factors discussed in the prospectus. This supplement is qualified in its entirety by reference to the prospectus (including any amendments or supplements to it), except to the extent that the information in this supplement supersedes or amends information set forth in the prospectus. Prospectus supplement no. 3 dated June 8, 2021 21798563 Local Initiatives Support Corporation 28 Liberty Street, 34th Floor, New York, NY 10005 • (212) 455-9800 • www.lisc.org LISC Impact Notes This prospectus supplement no. 2 (this “supplement”) supplements and amends the prospectus, dated October 19, 2020, as supplemented from time to time (the “prospectus”), relating to the offer and sale of up to $150,000,000 in aggregate principal amount of LISC Impact Notes. Incapital and Morgan Stanley to Serve as Agents in the Offering The Selling Agent Agreement, dated November 16, 2020, by and between Local Initiatives Support Corporation and Incapital LLC (the “Agreement”) has been amended to add Morgan Stanley & Co. LLC as a party to and Agent under the Agreement. The Notes may be offered through Incapital LLC as Lead Agent or Morgan Stanley & Co. LLC as Agent for resale to other registered broker-dealers. Institutional investors may purchase Notes directly from Incapital LLC or Morgan Stanley & Co. LLC. Incapital LLC and Morgan Stanley & Co. LLC., and any other agent appointed by LISC, are not required to purchase or sell any specific amount of the Notes but will sell the Notes on a reasonable best-efforts basis. President and CEO of LISC LISC’s President and CEO, Maurice A. Jones, will resign effective February 28, 2021. LISC will conduct an executive search process to select a replacement for Mr. Jones. Mr. Jones is expected to remain a member of LISC’s Board of Directors following his resignation. Effective March 1, 2021, Lisa Glover, who is currently a member of LISC’s Board of Directors, will serve as LISC’s Interim President and CEO until such time as LISC hires a replacement for Mr. Jones. Ms. Glover will remain a member of LISC’s Board of Directors. You should read this supplement together with the prospectus, including the more detailed information about LISC and the risk factors discussed in the prospectus. This supplement is qualified in its entirety by reference to the prospectus (including any amendments or supplements to it), except to the extent that the information in this supplement supersedes or amends information set forth in the prospectus. Lead Agent Incapital LLC Agent Morgan Stanley & Co. LLC Prospectus supplement no. 2 dated February 16, 2021 Local Initiatives Support Corporation 28 Liberty Street, 34th Floor, New York, NY 10005 • (212) 455-9800 • www.lisc.org LISC Impact Notes This prospectus supplement no. 1 (this “supplement”) supplements and amends the prospectus, dated October 19, 2020 (the “prospectus”), relating to the offer and sale of up to $150,000,000 in aggregate principal amount of LISC Impact Notes. President and CEO of LISC LISC’s President and CEO, Maurice A. Jones, will resign effective February 28, 2021. LISC will conduct an executive search process to select a replacement for Mr. Jones. Mr. Jones is expected to remain a member of LISC’s Board of Directors following his resignation. Effective March 1, 2021, Lisa Glover, who is currently a member of LISC’s Board of Directors, will serve as LISC’s Interim President and CEO until such time as LISC hires a replacement for Mr. Jones. Ms. Glover will remain a member of LISC’s Board of Directors. You should read this supplement together with the prospectus, including the more detailed information about LISC and the risk factors discussed in the prospectus. This supplement is qualified in its entirety by reference to the prospectus (including any amendments or supplements to it), except to the extent that the information in this supplement supersedes or amends information set forth in the prospectus. Lead Agent Incapital LLC Prospectus supplement no. 1 dated February 9, 2021 Local Initiatives Support Corporation 28 Liberty Street, 34th Floor, New York, NY 10005 • (212) 455-9800 • www.lisc.org LISC Impact Notes Total Aggregate Offering $150,000,000 in aggregate principal amount of outstanding LISC Impact Notes Term/Maturity Various terms of between 1 and 10 years, as set forth in the relevant pricing supplement Interest Rates Interest rates will be fixed rate and will be set at the time of issuance, and will be set forth in the relevant pricing supplement Minimum Investment $1,000 Requirement Status Unsecured debt obligations Offering Expenses Total expenses of the offering for the annual offering period commencing on the date of this prospectus, excluding sales compensation, will be approximately $265,000. LISC expects to receive net proceeds from sales, after offering expenses and sales compensation to Incapital, ranging from approximately $149,285,000 to $147,035,000 if the total amount of the Notes being offered are sold. Lead Agent Incapital LLC Prospectus dated October 19, 2020 This prospectus, as it may be amended or supplemented from time to time, may be used until the expiration of the periods of time authorized by registration or exemption in the various states or territories where LISC offers the LISC Impact Notes, which typically is 12 months from the date of effectiveness of the registration or exemption in the applicable state or territory. PRELIMINARY STATEMENTS This prospectus includes information related to the offer by Local Initiatives Support Corporation (“LISC”) for prospective investors to purchase the LISC Impact Notes (the “Notes”). Prospective investors are advised to read this prospectus and all ancillary documents, including any relevant pricing supplement, carefully prior to making any decisions to invest in the Notes. The Notes are issued by LISC, a 501(c)(3) tax-exempt organization and New York not-for-profit corporation certified as a Community Development Financial Institution (“CDFI”) by the U.S. Department of the Treasury (the “Treasury”). LISC’s principal executive office is located at 28 Liberty Street, 34 th Floor, New York, NY 10005. LISC’s telephone number is (212) 455-9800. Specific terms of the Notes will be described in a separate pricing supplement. The Notes will be global book-entry notes, which means that they may be purchased electronically through a prospective investor’s brokerage account and settled through the Depository Trust Company (“DTC”). LISC will offer the Notes through registered broker-dealers. The Notes may be offered through Incapital LLC (“Incapital”) as Lead Agent for resale to other registered broker-dealers. Institutional investors may purchase Notes directly from Incapital. Incapital, or any other agent appointed by LISC, is not required to purchase or sell any specific amount of the Notes but will sell the Notes on a reasonable best-efforts basis. Through this program with Incapital, LISC expects to receive net proceeds from sales after sales compensation to Incapital based on the maturity of the Notes sold, ranging from $997 per $1,000 of 1-year Notes to $982 per $1,000 of 10-year Notes. LISC estimates that the total expenses of the offering for the annual offering period commencing on the date of this prospectus, excluding sales compensation, will be approximately $265,000 or less than 1% of the total aggregate offering. LISC estimates that it will receive net proceeds ranging from approximately $149,285,000 to $147,035,000 if the total amount of the Notes being offered are sold. Investors are cautioned not to rely on any information not expressly set forth in this prospectus. No person has been authorized to give any information or to make any representation in connection with this offering other than those contained in this prospectus, and if given or made, such information or representations must not be relied upon as having been made by LISC or Incapital. Other than this prospectus itself, information contained in or that can be accessed through the LISC website is not a part of this prospectus. An investment in the Notes involves various material risks and investors may lose all or part of their investment. Prior to any investment, and in consultation with their financial, tax, and legal advisors, investors should carefully consider, among other matters, the risk factors disclosed in the “Risk Factors” section of this prospectus beginning on page 10 . There can be no assurance that the list of the risks pertaining to an investment in the Notes is comprehensive. Additional risks not presently known to LISC or that are currently deemed immaterial could also materially and adversely affect LISC’s financial condition, results of operations, and/or activities and prospects. THIS PROSPECTUS SETS FORTH CONCISE INFORMATION ABOUT THE NOTES THAT INVESTORS SHOULD CONSIDER BEFORE INVESTING, AND SHOULD BE RETAINED FOR FUTURE REFERENCE. INVESTORS SHOULD READ THIS PROSPECTUS CAREFULLY BEFORE INVESTING. THE NOTES ARE BEING OFFERED UNDER AN EXEMPTION FROM FEDERAL REGISTRATION PURSUANT TO SECTION 3(a)(4) OF THE SECURITIES ACT OF 1933, AS AMENDED (“SECURITIES ACT”), AND SECTION 3(c)(10) OF THE INVESTMENT COMPANY ACT OF 1940, AS AMENDED (“INVESTMENT COMPANY ACT”).