During this process, some clients are hesitant or lack confidence in the loan application process and need additional reassurances before committing to take part in LiftFund programs. Your donation attempt encountered a problem. Conduct business activities categorized as one of these NAICS codes. You can submit a copy of your business lease agreement. This organization was impacted by COVID-19 in a way that effected their financial health in 2020. Read More . This measure reflects the percent of its total expenses a charity spends on the programs and services it exists to deliver. I had applied for the S.O.A.R loan through Liftfund with application number XXXXXXXXXX in October 2021. If my revenue was less than $500,000 in either 2019 or 2020 but greater than $500,000 in the other year, am I eligible? If this organization aligns with your passions and values, you can give with confidence. to try again. For in-person application assistance, please contact one of the community navigators to schedule an appointment. You can contact the LiftFund Grants Team at 800-923-9551. Dividing a charity's total liabilities by its total assets yields this percentage. For more information about LiftFund, visit www.LiftFund.com. Were a social enterprise that finds solutions to level the financial playing field for entrepreneurs who are often left out of financial mainstream. First Draw PPP loans made to eligible borrowers qualify for full loan forgiveness if during the 8- to 24-week covered period following loan disbursement: Second Draw PPP loans made to eligible borrowers qualify for full loan forgiveness if during the 8- to 24-week covered period following loan disbursement: A borrower can apply for forgiveness once all loan proceeds for which the borrower is requesting forgiveness have been used on eligible expenses. The Texas nonprofit LiftFund will administer the distribution of funds to applying organizations based on a transparent . (provide documentation for all payroll periods that overlapped with the Covered Period): Bank account statements or third-party payroll service provider reports documenting the amount of cash compensation paid to employees. Limited to one grant per physical address within Bexar County. Applicants are eligible to receive only one grant award, Only one grant may be awarded per business with more than one location, Limited to one grant per physical address within City of San Antonio. Below you will find more details about this program, including eligibility, documents required, scoring methodology and timeline. LiftFund collaborates with many other organizations to provide technical assistance, events and workshops bringing in experts to speak to and educate clients on specific topics or in regards to specific industries. Track Application Status | Passport Application Status Tracking We include in a charity's working capital unrestricted and temporarily restricted net assets, and exclude permanently restricted net assets. All recipients will be required to complete follow-up surveys in May 2024 and May 2025. session will be hosted on Wednesday, March 16 at 3:00 P.M. Business owners will learn more about the program and have an opportunity to ask questions. How COVID-19 impacted the organization's delivery of programs: In response to the pandemic, LiftFunds programs quickly shifted to focus on resiliency and recovery strategies for issues such as supply chain and distribution, remote customer service, and specialized support for business industries hit the hardest. We calculate the charity's average total expenses over its three most recent fiscal years. The IRS is significantly delayed in processing nonprofits' annual tax filings (Forms 990). Technical Assistance: LiftFunds business support team quickly shifted workshops, seminars, and training sessions to virtual platforms to allow small businesses to engage in services from anywhere. BBB Business Profiles are subject to change at any time. In some cases, these amounts may include compensation from related organizations. .0 Strict//EN" "http://www.w3.org/TR/html4/strict.dtd">, Physical Address We know you and your business need support during this time and we are preparing our Paycheck Protection Program that was launched by SBA through the CARES Act. LiftFund will issue a 1099 in January 2024. The application review period will start on October 5, 2021 and continue through January 9, 2022. San Antonio, TX 78205, Mailing Address The City of Houstons program, Harvey Economic Development Program (HEDP). We employ non-traditional ways of gathering feedback on programs and trainings, which may include interviews, roundtables, and external reviews with/by community stakeholders. Good news is that youre still able to submit your PPL loan forgiveness application with the instructions below. LiftFund is nonprofit community development financial institution with a 27-year track record of elevating underestimated and underserved communities across its 15-state footprint. LiftFund's began in San Antonio, Texas in 1994 in conjunction with the micro-lending organization Accin International that offers micro-loans in Latin America. BBB reports on known marketplace practices. P.O. The committee provides an important oversight layer between the management of the organization, which is responsible for the financial information reported, and the independent accountant, who reviews the financials and issues an opinion based on its findings. This flexibility in operations was instrumental in supporting the quick disbursement of loans and grants to guide small businesses through the pandemic, a challenge we successfully met in response to a dramatic increase in need for capital. Is this program different from the City of Houston's grant program? We expect around 2,000 micro and small businesses to be assisted. Businesses must not have any outstanding tax liabilities. In this case, we deduct 7 points from the charity's Accountability and Transparency score. Full Credit: The charity's audited financials were prepared by an independent accountant with an audit oversight committee. As a sole proprietor, I am not required by the county or state to file a DBA. SBA PPP Loan Forgiveness & Application Support | LiftFund You have to wear a lot of hats and it can be fast-paced. LiftFund is a designated community development financial institution, or CDFI. We compute the average annual growth of program expenses using the following formula: [(Yn/Y0)(1/n)]-1, where Y0 is a charity's program expenses in the first year of the interval analyzed, Yn is the charity's program expenses in the most recent year, and n is the interval of years passed between Y0 and Yn. APPLY NOW ACCEPTING APPLICATIONS Monday, March 13 at 9:00 AM through Wednesday, May 31 at 5:00 PM Mountain Standard Time, or until funds are exhausted LiftFund is authorized to provide the PPP loan in the following states: Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, New Mexico, Oklahoma, South Carolina, Tennessee, and Texas. Paycheck Protection Program Interest Form - LiftFund Please check spam and trash in case it was blocked. BBB Business Profiles may not be reproduced for sales or promotional purposes. Yes, as long as your business is registered with a DBA and you filed a ScheduleCin 2019 and 2020 for your business. Yes, as long as your business is registered with a DBA. For more information about LiftFund, please call 888-215-2373 or email info@liftfund.com. Women Founders Network (Women-owned businesses, next round in 2023), National Black MBA Association (Black owned businesses, next round in 2023), Halstead Grant (Female entrepreneurs in jewelry industry, next round 2023), IdeaCafe Grant (Preference for women, next round 2023), EBay Up and Running (Business owners who sell on Ebay, next round 2023), Visa MENA Shes Next Grant Program (Female, Middle Eastern, North African business owners, next round 2023), Tandy Leather Together Foundation (Businesses in the leather industry who are Tandy Leather customers). We disaggregate data by demographics, including race, in every policy and program measured. Cons. Businesses must be operating as of February 15,2020. Business has not been permanently closed. Login. Applicants will receive a confirmation email when they submit the application. Operating prior to January 1, 2020 with demonstrated revenue in 2019. LiftFund incorporates the same mission and ideas in the U.S that Accion uses in Latin America. We measure and then disaggregate job satisfaction and retention data by race, function, level, and/or team. At LiftFund, your investments can transform lives and wed be happy to share how you can join our movement with a gift or an investment. We will be hosting virtual info sessions to provide an overview of this grant program. Can I apply? This measure reflects what a charity spends to raise money. Contact. Be the first to find this review helpful. No, revenue must be less than $500,000 in both 2019 and 2020. LiftFund reported being impacted by COVID-19 in the following ways: How COVID-19 impacted the organization's operations financially: There are a wide range of strategies that LiftFund utilized in the wake of COVID-19 to ensure that operations were not impacted financially. It is based on gross revenue. Applications with the highest scores will be reviewed and approved first. The grants team will reach out to applicants by phone or email if additional documents or clarification is needed. (for expenses that were incurred or paid during the Covered Period and showing that obligations or services existed prior to February 15, 2020 for the first three listed obligations/services): Business mortgage interest payments: Copy of lender amortization schedule and receipts verifying payments, or lender account statements, Business rent or lease payments: Copy of current lease agreement and receipts or cancelled checks verifying eligible payments, Business utility payments: Copies of invoices and receipts, cancelled checks or account statements, Covered operations expenditures: Copy of invoices, orders or purchase orders paid, and receipts, cancelled checks or account statements verifying eligible payments, Covered property damage costs: Copy of invoices, orders or purchase orders paid, and receipts, cancelled checks or account statements verifying eligible payments, and verification that costs were related to uninsured property damage due to public disturbance vandalism or looting that occurred in 2020, Covered supplier costs: Copy of contracts, orders or purchase orders in effect at any time before the Covered Period (except for perishable goods), and copy of invoices, orders or purchase orders paid, and receipts, cancelled checks or account statements verifying eligible payments, Covered worker protection expenditures: Copy of invoices, orders or purchase orders paid, and receipts, cancelled checks or account statements verifying eligible payments, and verification that expenditures were used to comply with COVID-19 guidance, Complete your loan forgiveness application, sign attestations and completed application, and submit it to, Guidance on the Employee Retention Credit under Section 2301 of the Coronavirus Aid, Relief, and Economic Security Act(PDF), Guidance on the Employee Retention Credit under the CARES Act for the First and Second Calendar Quarters of 2021(PDF). Harris County to Launch New $30M Small Business Recovery Program 2019, 2020, 2021 business tax return. Innovations the organization intends to continue permanently after the pandemic: As most of our small business clients are still in the process of adapting to a post-pandemic business climate (i.e., implementing hybrid business models and continuing remote operations), LiftFund will continue to ensure that our training workshops and seminarsare offered virtually and recorded, easily accessible by smartphone, and monthly schedules are shared on our website. I asked on several occasions for my application to be reprocessed for the correct application to no avail. CDFIs are working in neighborhoods across the United States to provide affordable, responsible credit, create and sustain jobs, and to stabilize communities. If selected, do I have to pay the grant back? Please find complete Loan Forgiveness Requirements and Loan Review Procedures as Amended by the Economic Aid Act Here, Headquarters | 2014 S. Hackberry St, San Antonio, Texas 78210, USA, 2021 LiftFund All Rights Reserved | Privacy Policy | Terms of Service, About LiftFundImpactCommunityOur TeamClient Stories, ResourcesBusiness SupportLiftLearnEventsBlog, LoansAm I Ready?Funding OptionsRefer A Client, ChampionsPartnersSupportersClient Marketplace, The LiftFund partnership with Lendio to process PPP loan forgiveness applications ended on January 31, Employee and compensation levels are maintained, The loan proceeds are spent on payroll costs and other eligible expenses; and, At least 60%of the proceeds are spent on payroll costs, Employee and compensation levels are maintained in the same manner as required for the First Draw PPP loan, SBA PPP Loan forgiveness Application Form 3508, SBA PPP Loan Forgiveness Application Form 3508EZ, SBA PPP Loan Forgiveness Application Form 3508S. We engage everyone, from the board to staff levels of the organization, in race equity work and ensure that individuals understand their roles in creating culture such that ones race identity has no influence on how they fare within the organization. We cant do this work alone, thats where you can come in. You are welcome to get assistance in completing the application from a third party, however, the business owner should submit their own application and the contact info listed should be for the owner. In response to these concerns, LiftFund recently revised the job titles of our Lending Assistants to Lending Consultants, a descriptor that has garnered greater trust and confidence from our clients and more fully conveys to them the expertise of our lending team. loading and try your donation again. Operational is defined as a positive amount of gross receipts or sales on the 2019 tax return (Line 1 of Schedule C or Line 1a of 1120, 1120S or 1065). Here's what you will need as proof of income: W-2 forms. You can submit a copy of your business lease agreement. You are welcome to get assistance in completing the application from a third party, however, the business owner should submit their own application and the contact info listed should be for the owner. This organization reported that it is collecting feedback from the constituents and/or communities it serves. Application review: August 23-December 23, 2022. International Association of Better Business Bureaus. All applicants, even if ineligible or not selected for funding, will be notified by December 5. A list of our partner agencies and their contact information can be found here. Businesses can The City of Houstons program,Harvey Economic Development Program (HEDP), provides support to impacted small businesses and communities through small business loans and grants. Acceptable return formats are Schedule Cs, 1120, 1120S and 1065. Will the application process accommodate business owners facing technological or language barriers? Upon graduating, Sophies aunt encouraged her to pursue an ASL career and follow her passion of bridging the gap between the deaf and hearing communities. Fundraising expenses can include campaign printing, publicity, mailing, and staffing and costs incurred in soliciting donations, memberships, and grants. We can be reached by phone at 888-215-2373, by email at sbgrants@liftfund.com or you can submit a question online. In the end, LiftFund successfully deployed a total of $98.2 million in grants and loans, provided 6,536 individuals with 7,120 hours of consultations, hosted 433 events, created 4,893 jobs and retained an additional 6,632. Business Financials: 2019 and 2020 business tax return (additional financial documents, such as bank statements or P&L may be requested if losses cannot be verified by the tax returns), DD 214 proof of military discharge (veterans only), The program has a priority for woman, minority and veteran-owned businesses, Receipt of previous federal COVID-19 funding through PPP loan, EIDL or Harris County grants, The program has a priority for businesses with fewer than 10 employees. You can view the list of prohibited NAICS codes here. Headquarters | 2014 S. Hackberry St, San Antonio, Texas 78210, USA, 2021 LiftFund All Rights Reserved | Privacy Policy | Terms of Service, About LiftFundImpactCommunityOur TeamClient Stories, ResourcesBusiness SupportLiftLearnEventsBlog, LoansAm I Ready?Funding OptionsRefer A Client, ChampionsPartnersSupportersClient Marketplace. At the time of application, I was eligible for the loan . We have long-term strategic plans and measurable goals for creating a culture such that ones race identity has no influence on how they fare within the organization. Password In order to keep our team focused on the review and award process, we kindly ask that you refrain from contacting us to request a status update, as we may not be able to provide an immediate response to your inquiry. If the problem persists contact us. Recommend. You are welcome to get assistance in completing the application from a third party, however, the business owner should submit their own application and the contact info listed should be for the owner. Below you will find more details about this program, including eligibility, documents required, scoring methodology and timeline. As a sole proprietor, I am not required by the county or state to file a DBA. This overall score is calculated from multiple beacon scores, weighted as follows:80% Accountability & Finance, 10% Leadership & Adaptability, 10% Culture & Community. These grants will provide relief to those struggling financially to help our economy recover and emerge stronger than before. As an organization on the front lines of economic response, LiftFund plays an integral role in elevating a broad range of diverse small business owners, including those with little startup wealth and lack of access to commercial credit. LiftFund | Small Business Loans, Microloans, SBA Loans for Women LiftFund supports hard-working small business owners like you access money and resources you need to grow your business. Cart ID: Not Assigned, Copyright 2023 | EIN 13-4148824 | Bridge ID 3108588923. . The City of San Antonio is available to assist with information and referrals to additional programs that can help your business. Business utility bill (water, gas, electric). Charity Navigator - Rating for LiftFund THE TRUTH PANTHER on Twitter: "A forensic investigation company has We provide loan solutions that include SBA micro-loans, SBA 504 Loans and the SBA Community Advantage. Applicants without a, DD 214 proof of military discharge (veterans only). (More) Rating Information Great This charity's score is 94%, earning it a Four-Star rating. 2-53 of the Citys Ethics Code. Donors can be reluctant to contribute to a charity when their name, address, or other basic information may become part of donor lists that are exchanged or sold, resulting in an influx of charitable solicitations from other organizations. The funds will be used to administer the small business recovery program and provide relief small business loans at 0 percent interest. Harris County has created a new $30 Million Small Business Relief Fund to support micro and small businesses recovering from the economic effects of the COVID-19 pandemic. Log in Email. Charity Navigator looks to confirm on the Form 990, or for some metrics on the charity's website, that the organization makes this information easily accessible. How BBB Processes Complaints and Reviews. IRS Non Profit Status Letter. To calculate a charity's fundraising efficiency, we divide its average fundraising expenses by the average total contributions it receives. If you need assistance, please send us an email to card@liftfund.comor call us at (888) 215-2373. As reported by charities on their IRS Form 990, this measure reflects what percent of its total budget a charity spends on overhead, administrative staff and associated costs, and organizational meetings. Grants will be awarded in August. The organization reported that it is implementing 10 Equity Practices. The nonprofit organization presents evidence of strategic thinking and goal setting through sharing their most important strategic goals. Expenses paid with PPP funds are now tax deductible. If my business is located outside of Harris County but I serve customers within the county, can I apply? NonProfit - Bexar County Grants The COVID-19 pandemic has caused unprecedented challenges and disruptions to small businesses and non-profit organizations across San Antonio, said City Manager Erik Walsh. Click here for more about theHarvey Economic Development Program (HEDP). If I applied for a Harris County COVID-19 grant last year, do I have to re-apply? Selected recipients will be notified of approval and accept the grant via an emailed Docusign form. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. The program, funded by the City of San Antonio and administered by LiftFund, has dedicated $17,000,000 Million in funding to support for-profit small businesses with grants up to $35,000. CEO Approval. The funds must be used for business-related expenses, including payroll, working capital, business rent, inventory, supplies, equipment, and other operating costs. Employee size for PPP 1st Draw: Businesses with less than 500 employees; Entities with more than 500 employees in certain industries that meet SBAs alternative size standard or SBAs size standards for those industries can also apply. The combined experience and efforts of our leadership, investors, donors, banks and municipalities allowed LiftFund to develop products we know small businesses require if they are going to survive an unforeseen crisis that no one was prepared for. Most importantly, the entire loan can be forgiven, 1st draw for businesses applying for the PPP for the first-time. Lendio will need all your business and financial information to assist us in maximizing your 2nd PPP request, so please be ready. This ratio is an indicator of an organizations solvency and or long term sustainability. Status update April 1, 2016 Kiva has moved this Field Partner to inactive status. If you reported income from your current business on your 2019 schedule C, you may file a DBA at this time and be considered. Applications must be completed and submitted along with all the documentation required for verification before 4:59:59 PM CST on Friday January 20, 2023. LiftFund cannot currently be evaluated by our Impact & Results methodology because either (A) it is eligible, but we have not yet received data; (B) we have not yet developed an algorithm to estimate its programmatic impact; (C) its programs are not direct services; or (D) it is not heavily reliant on contributions from individual donors.Note: The absence of a score does not indicate a positive or negative assessment, it only indicates that we have not yet evaluated the organization. If you file an 1120, use Line 1a. info@liftfund.com, TO APPLY: Visit covid19.sanantonio.gov/recoverygrants. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles. Be the first to review! LIFTFUND PROVIDES CREDIT TO SMALL BUSINESSES THAT DO NOT HAVE ACCESS TO LOANS FROM COMMERCIAL SOURCES. Yes, as long as your business is registered with a DBA. Grant eligibility criteria includes: Grant applicant must be authorized representative of business or non-profit . We leverage finance and accountability data from it to form Encompass ratings. Quarterly: receipts for 2019 quarter and receipts for same quarter in 2020; For business not operating in 2019, receipts for first quarter of 2020 and receipts for third or fourth quarter for comparison; For applicants selecting annual comparison, provide 2019 tax returns and 2020 tax returns. Join our movement in leveling the financial playing field and breaking the cycle of poverty through entrepreneurship. A policy that refers to donor information collected on the website is also not sufficient as the policy must be comprehensive and applicable to both online and offline donors. You're faster than our page! What do you think? These local agencies will with the application process to help overcome technological or language barriers. To be eligible for this program, businesses must: Grant funds will not be awarded on a first-come, first-served basis. Applications with the highest score based on the methodology below will be considered and funded first.

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