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. Yes. As an entrepreneur with limited business education, Valorie lacked the traditional business acumen of many of her competitors. LiftFund is also offering five webinars to provide the community an overview of the grants program and application process. Goal Two: LiftFund developed several new programs that were extremely successful and offered virtually. Applications with the highest scores will be reviewed, approved, notified and funded first (if eligible). See the metrics below for more information. The Bexar County Nonprofit Assistance program will provide grants to nonprofit organizations that have been impacted by the pandemic. Isaac received a Bachelor of Arts degree from The University of Texas at San Antonio and a Master of . 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. If this organization aligns with your passions and values, you can give with confidence. Cart ID: Not Assigned, Copyright 2023 | EIN 13-4148824 | Bridge ID 3108588923. The application period has ended. Full Credit: The charity's audited financials were prepared by an independent accountant with an audit oversight committee. As the entire organization moved to working from home, LiftFund IT Department had to work overtime to ensure all staff had the necessary equipment and tools to continue accessing work product and communicating with each other. We disaggregate data to adjust programming goals to keep pace with changing needs of the communities we support. More information about the partner organizations can be found, You will receive a confirmation email from. The City of San Antonio Small Business COVID Impact Grants Program will provide financial support in the form of grants to micro and small business owners who continue to be impacted by the pandemic to strengthen the San Antonio small business community. For more information about LiftFund, visit. How can I prove my address? Your mortgage lender will likely ask for W-2s from the last one to two years for each applicant. Business Outlook. Please refresh the page More information about the partner organizations can be found here. Charities may submit their own pandemic responses through their nonprofit portal. You will be asked to submit a current business utility bill as part of the application. Is negative impact on operations due to the pandemic based on gross or net revenue? Home based businesses may provide a home utility bill. These included increasing revenue earned from our loan portfolio through fees-for-service as well as the development of new loan products to attract new customers. LiftFund is a non-profit organization that helps small businesses who have a hard time . The City of Houstons program,Harvey Economic Development Program (HEDP), provides support to impacted small businesses and communities through small business loans and grants. At least 60% of the proceeds are spent on payroll costs. The application period opens Monday, July 13, 2020 and closes on Monday, July 27, 2020 with $24.7 million available. Grant applicants are only eligible to receive one grant award, Only one grant may be awarded per business with more than one location, Limited to one grant per physical address within Harris County, Drivers license or government-issued photo ID, Proof of business registration with Harris County or TX Secretary of State, Q1 2021 941, payroll report or 1099 to verify number of employees. Applicants are eligible to receive only one grant award, Only one grant may be awarded per business with more than one location. This normally would have reduced their star rating. *In Canada, trademark(s) of the International Association of Better Business Bureaus, used under License. Since 1998, LiftFund has provided over $68.7 million in capital and more than 4,300 business loans to East Texas small business owners and entrepreneurs, of which 81% are Black, Indigenous and People of Color (BIPOC), 65% are Low-to-Moderate Income individuals, 43% are women, and 24% are startups. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile. 115 Plaza De Armas LiftFund's PPP loan maximum loan amount is $250,000, set by SBA guidelines. Use the tool below to select different beacons to see how the weighting shifts when only one, two, or three beacons are earned. The funds must be used for business-related expenses, including payroll, working capital, business rent, inventory, supplies, equipment, and other operating costs. If I received Harris County assistance last year, am I eligible to apply for the grant? Yes, for financial assistance, please visit www.liftfund.com/loan-offerings. LiftFund is currently in a process improvement project in which a contractor was brought in to evaluate our current programs. If you file an 1120-S, use Line 1. Customer Reviews are not used in the calculation of BBB Rating, Need to file a complaint? Please enter your borrower ID and password. LiftFund and other local community organizations will help applicants navigate the application process and overcome technological or language barriers. Applications will be assessed and scored based on the five components below. Partnerships: In partnership with generous supporters, we launched a variety of COVID relief options for small businesses in collaboration with municipal governments, foundations, banks, and various corporations. We review compensation data across the organization (and by staff levels) to identify disparities by race. Eligible small businesses applying or receiving support from other City or County program are able to apply for this program. 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. BBB Business Profiles generally cover a three-year reporting period. If selected, do I have to pay the grant back? You can also attend one of our free upcoming seminars, We can be reached by phone at 888-215-2373, by email at, In 2020, LiftFund provided over $98.2 million in prompt financial support to small business owners facing the economic impact of COVID-19, including relief loans, small business grants and PPP loans across its 15-state footprint. Funds can be spent between 8 weeks to 24 weeks after loan origination. Valorie Anne Reynolds is the proud owner of Chica Verde, a vintage home dcor shop in San Antonio, Texas, with a niche in outdoor dcor that features Texas plants. We use a vetting process to identify vendors and partners that share our commitment to race equity. How can I prove my address? A list of our partner agencies and their contact information can be found, Yes. LiftFund saw the struggles small businesses and the communities they serve when Hurricane Harvey devastated the Gulf Coast region and responded with the immediate assistance needed, low to no interest capital and business support. San Antonio, TX 78205, Mailing Address I had applied for the S.O.A.R loan through Liftfund with application number XXXXXXXXXX in October 2021. If you need assistance, please send us an email to card@liftfund.comor call us at (888) 215-2373. 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. As a sole proprietor, do I submit my full 1040 personal tax return or just my Schedule C? LiftFund leadership and board members work closely with community leaders at local, state, and federal levels ensuring they understand the needs of small businesses as well as the support communities require where they thrive. Applications with the highest score based on the methodology below will be considered and funded first. Yes, the Harris County Small Business Relief program is designed to support micro and small businesses impacted by COVID-19. Can I still apply? Audited financial statements provide important information about financial accountability and accuracy. Instead, in 2015, set her sights on opening a childcare center, where she could educate, support, and influence kids. For more information about LiftFund, please call 888-215-2373 or email info@liftfund.com. We have community representation at the board level, either on the board itself or through a community advisory board. LiftFund supports hard-working small business owners access money and resources they need to grow their business. Charity Navigator believes nonprofit organizations implementing effective equity policies and practices can enhance a nonprofit's decision-making, staff motivation, innovation, and effectiveness. To check if your business address is located within the city, click, Not be in the following categories: non-profits, gambling/gaming businesses; franchisors; sexually oriented businesses; payday & auto loan providers; liquor stores and businesses in which a City employee or officer has a financial interest, as defined in Sec. 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. Goal Type: Grow, expand, scale or increase access to the existing programs and services. This project has allowed leadership and staff to better understand current roles and current needs with a goal of better aligning departments, strategies and developing rising stars within the organization. This program will provide support and help alleviate any cost burdens to our small businesses and nonprofits as they reopen their doors safely and continue to navigate during this time. If you're considering starting a business, LiftFund may be an excellent resource for you. However, due to system issues my application was not processed for the S.O.A.R Loan but instead it went in as a regular application. Visit LiftFund's website to learn more. Even with the necessary loan payment deferrals we implemented, LiftFund was able to balance out these losses by administering PPP loans, new grant programs, and loan relief programs in partnership with municipalities. LiftFund can loan between $500 to $500,000 to businesses. LiftFund Approved to post Kiva loans from: United States Kiva conducts regular, ongoing monitoring of all Field Partners, but only posts status updates here in response to relevant, major changes at the partner. Status update April 1, 2016 Kiva has moved this Field Partner to inactive status. Businesses can Partial Credit: The charity's audited financials were prepared by an independent accountant, but it did not have an audit oversight committee. A bilingual info. No, your business must be physically located in the county. (More) Rating Information Great This charity's score is 94%, earning it a Four-Star rating. Opt-out: The charity has a written privacy policy published on its website which enables donors to tell the charity to remove their names and contact information from lists the charity shares or sells. 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. Applications with the highest scores will be reviewed and approved first. 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. Eligible businesses or nonprofits can apply for the grants by going to. All recipients will be required to complete follow-up surveys in June 2023, June 2024 and June 2025. The Texas nonprofit LiftFund will administer the distribution of funds to applying organizations based on a transparent . You can contact the LiftFund Grants Team at 800-923-9551. Be located within Bexar County limits. If 2021 business return has not been filed, other documents, such as a profit and loss statement may be requested. BBB reports on known marketplace practices. Starting and sustaining a business can be hard work and may present a variety of challenges. In this case, we deduct 15 points from the charity's Accountability and Transparency score. CORPUS CHRISTI, TEXAS - (May 15, 2020) - The Port of Corpus Christi has allocated a $200,000 grant to LiftFund, a nonprofit community lender, to provide COVID-19 relief loans to eligible small businesses in Nueces and San Patricio counties.. 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. If borrowers do not apply for forgiveness within 10 months after the last day of the covered period, then PPP loan payments are no longer deferred, and borrowers will begin making loan payments to their PPP lender. LiftFund supports thousands of small businesses through microloans, small business loans, and resources with dignity and respect. The application will be open for two weeks; application submission will be verified with documents submitted below. How BBB Processes Complaints and Reviews. Yes, we will calculate the number of full time equivalent (FTE) employees, including 1099 workers. We believe entrepreneurship is a path to financial and family well being and we create products and resources that close the small business finance gap thousands of small businesses face daily. 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. Application review: August 23-December 23, 2022. Can I still apply? You can contact the LiftFund Grants Team at 800-923-9551. Operating prior to January 1, 2020 with demonstrated revenue in 2019. We're here to support determined entrepreneurs like you with loans, tools and resources to grow your business. Grant disbursements: September 14,2022 January 9, 2023. Women Founders Network (Women-owned businesses), National Black MBA Association (Black owned businesses), Halstead Grant (Female entrepreneurs in jewelry industry), EBay Up and Running (Business owners who sell on Ebay), Visa MENA Shes Next Grant Program (Female, Middle Eastern, North African business owners), Tandy Leather Together Foundation(Businesses in the leather industry who are Tandy Leather customers). We are committed to reviewing applications as quickly as possible. If the problem persists contact us. Learn more about becoming a LiftFund partner. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. Since I dont have a 2019 business tax return, what documents do I need to submit to prove negative impact? This organization reported that it is collecting feedback from the constituents and/or communities it serves. Pros. Generally, receipts are considered total income plus cost of goods sold. https://www.cclerk.hctx.net/PersonalRecords.aspx#ANInfo. If my business is located outside of the City of San Antonio but I serve customers within the city, can I apply? No Credit: The charity did not have its audited financials prepared by an independent accountant. Expenses paid with PPP funds are now tax deductible. (Less). In this case, we deduct 15 points from the charity's Accountability and Transparency score. The application process is not first-come, first-served; all completed applications will be reviewed for eligibility and prioritized based on small business impact parameters. If I have questions, how do I contact LiftFund? Gross sales are based on Line 1 of Schedule C or Line 1a of 1120, 1120S or 1065. Best Items to Donate to an Animal Shelter, Donors Prefer Charities that Earn All Four Beacons. If I have 2 businesses, can I submit an application for each? We will continue to provide and grow these programs across our footprint and scale them as needed. The application period opens Monday, July 13, 2020 and closes on Monday, July 27, 2020 with $24.7 million available. Your lender is responsible for notifying you of the forgiveness amount paid by SBA and the date on which your first payment will be due, if applicable. Yes, businesses are eligible to apply and the amount of previously received funding will be factored into calculation of grant score. 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. We include in a charity's working capital unrestricted and temporarily restricted net assets, and exclude permanently restricted net assets. Individuals that operate or want to open a small business in McAllen and who are not able to acquire a loan through commercial lending, are eligible for the zero-interest program. 3/20/2023 1:33 AM. (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). The webinars will be offered in English and Spanish. Personal Documents for primary owners/agent: SBA Form 2483-SD Paycheck Protection program Second Draw Borrower Application Form; Entity, Personal and Payroll documents used in 1st Draw Loan. We believe you deserve a path to success and were here to close the small business finance gap thousands of small businesses face daily. I use a PO Box on my business registration and/or my tax return. Negative impact can be demonstrated by a decline in either gross or net revenue between 2019 and 2020. Tax-exempt businesses, hobby businesses, gambling businesses, residential builders, speculative real estate investors, government entities and sexually-oriented businesses are not eligible. How LiftFund supports thousands of small businesses through microloans, small business loans, and resources with dignity and respect. SBA has up to 90 days to review and approve the forgiveness request. To check if your business address is located within the county, click. The Spanish sessions will be held on July 15 and July 20 from 2:00pm 3:00pm. Unlike traditional financial institutions, our programs and services proactively accommodate factors that disproportionately impact small business owners with low credit scores, little to no collateral, and lack of startup wealth. If you are seeking more than our maximum amount visit the SBA link . 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. An additional $10,000 construction impact supplement is available for those who qualify. You can view the list of prohibited NAICS codes here. How to do I prove how many employees I have if I hire 1099 contractors? 2023, International Association of Better Business Bureaus, Inc., separately incorporated Better Business Bureau organizations in the US, Canada and Mexico and BBB Institute for Marketplace Trust, Inc. All rights reserved. My business is home based and all of my utilities are in someone elses name. what happened to buster edwards daughter. 2007 W Martin St. San Antonio, TX 78207-2630. The LiftFund partnership with Lendio to process PPP loan forgiveness applications ended on January 31st, 2022. Part of our goal in rating the financial performance of charities is to help donors assess the financial capacity and sustainability of a charity. Borrowers can apply for forgiveness any time up to the maturity date of the loan. We ask team members to identify racial disparities in their programs and/or portfolios. We will also continue to offer flexible consultation sessions with our Business Advisors on matters ranging from finance, sales, e-commerce, and other topics that will help small businesses successfully adapt to and thrive in a post-pandemic business environment. The annual revenue amount will only be reviewed for the location listed on the application and not the total of all businesses owned by the applicant.
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liftfund application status