LiftFund, a leading nonprofit small business lender, has received a major commitment from Bank of America to aid small businesses recovering from the July floods in Texas’s Hill Country. The contribution includes $1 million in lending capital and an additional $100,000 to support LiftFund’s disaster relief operations, bringing the total funds raised for the relief efforts to over $5 million. This investment comes as federal assistance from FEMA and Disaster Unemployment Assistance programs has closed, providing small businesses with continued access to critical recovery resources.
The funding supports LiftFund’s 0% interest rate loans, available to small businesses in all counties declared disaster areas by the State of Texas following the floods, including Bandera, Coke, Comal, Concho, Gillespie, Kendall, Kerr, Kimble, Llano, Mason, McCulloch, Menard, Reeves, San Saba, and Tom Green. These loans aim to help local businesses navigate long-term recovery while maintaining operations and serving their communities.
Amy Hereford, President and CEO of LiftFund, emphasized that Bank of America’s support ensures small business owners—the backbone of local economies—have the resources needed to recover when other aid avenues have closed. The additional $100,000 for operational funding enables LiftFund to maintain staff for technical assistance and underwriting, ensuring accountability and effective distribution of funds.
Ventura Perez from Bank of America highlighted the importance of small businesses in the Hill Country’s economic future and reaffirmed the bank’s commitment to providing access to capital directly and through trusted partners like LiftFund. Small business owners affected by the floods are encouraged to apply for the 0% interest loans while funding is available.
LiftFund has over 30 years of experience empowering entrepreneurs through responsible loans, grant programs, and financial education, fostering economic resilience in communities nationwide. Bank of America, serving millions of consumers and small businesses across the United States and globally, continues to support economic recovery efforts through strategic partnerships and innovative financial solutions.
