LIFTFUND INC

Established in 1994 in San Antonio, LiftFund has grown to become one of the nation’s premier microlending organizations, servicing 15 states (Alabama, Arkansas, California, Florida, Georgia, Kentucky, Louisiana, Mississippi, Missouri, New Mexico, New York, Oklahoma, South Carolina Tennessee and Texas), affecting substantial economic impact in these communities by disbursing over 23,400 loans totaling more than $377,000,000 and serving 28,500 plus clients with business support, education and consultation. Founded on the vision of promoting economic development for entrepreneurs in underserved communities, LiftFund serves mostly low- to moderate-income (LMI), women, minorities, veterans and startups. LiftFund clients are 82% minority, 39% women and 64% LMI, and our programs reflect the needs of our clients - tailored business training, business support, and access to capital. In 2020 alone and despite the challenges of the COVID-19 pandemic, LiftFund provided over 6,730 consultations and hosted over 500 seminars and workshops totaling 6,534 entrepreneurs served, the majority of which were socially and economically disadvantaged. These services resulted in the startup of 108 businesses, creation of 4,893 jobs and retention of another 6,562. In our 2012 Economic and Fiscal Impact Study, using five years of LiftFund data, we found that small businesses have a 44% better chance of survival and 73% sales growth when technical assistance is part of the services utilized. LiftFund’s most recent impact study in 2016 found that for every dollar LiftFund loans, $14 is generated in economic activity resulting in an economic impact of over $611 million to the local economies across our footprint in 2020.