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Small business lender LiftFund has mobilized more than $1 million in emergency funding to assist small businesses navigating the aftermath of loss and disruption in the Hill Country flooding tragedy.
The funding, made possible through contributions from Wells Fargo, Methodist Healthcare Ministries, and H-E-B, will support two new recovery efforts under LiftFund’s Hill Country Disaster Recovery Initiative.
Programs include emergency grants of up to $10,000 and zero-interest loans designed to stabilize and restore business operations.
“Recovery of these businesses keeps families in their homes, meals on tables, and it gives people a sense of strength reclaimed,” said Amy Hereford, president and CEO of LiftFund, in a statement.
In April, CDFI Friendly Fort Worth and LiftFund, based in San Antonio, announced a partnership in which they were teaming up to offer loans of up to $100,000 with 0% interest through a new initiative called the Interest Buy-Down Program. The goal is to remove financial barriers that often stand in the way of entrepreneurs, especially those in communities that have historically struggled to get fair access to funding.
The Hill Country Emergency Grant Program provides financial relief to small business owners and employees located in flood-impacted areas. It also extends support to those indirectly affected by flood-related tragedies, including the loss of loved ones or significant property damage.
Meanwhile, the Hill Country Disaster Relief Loan Program offers zero-interest loans with flexible repayment terms to help businesses recover from operational disruptions. Funds may be used to replace inventory, cover expenses from temporary closures, support cleanup, or maintain essential business functions.
Business owners can apply at liftfund.com/hill-country-relief or call 888-215-2372.