LiftFund Celebrated for Leadership in Small Business Recovery and Economic Stability

LiftFund Wins National Award for Small Business Recovery and Economic Stability

LiftFund, a non-profit organization that has been a steadfast supporter of small businesses across the United States, has recently earned the prestigious 2025 Outstanding CDFI Award. This recognition, bestowed during a national gathering hosted by the Opportunity Finance Network (OFN) in Washington, D.C., celebrates LiftFund's significant contributions to community economic stability and rapid response in times of crisis.

The Impact of Disaster on Small Businesses

When disasters strike, the impact on small businesses can be catastrophic. Amy Hereford, LiftFund's President and CEO, articulated the chain reaction caused by a business closure: "When a small business closes after a disaster, it creates a ripple effect. Employees lose income, local suppliers lose revenue, and entire towns fall behind economically." Understanding this urgent need for support, LiftFund has remained committed to providing timely recovery capital to keep small businesses operational even amid challenging circumstances.

To date, LiftFund has deployed an impressive $1.5 billion in capital across the nation, with $222 million specifically earmarked for disaster recovery efforts. This funding has enabled approximately 11,000 entrepreneurs to navigate the aftermath of various disasters, including hurricanes, wildfires, and floods. Remarkably, by sustaining these businesses, LiftFund has helped maintain around 47,000 jobs, underscoring the critical role these small enterprises play in local economies.

Building the National Disaster Recovery Fund

To address the immediate financial needs of businesses impacted by disasters, LiftFund is developing the National Disaster Recovery Fund. This initiative aims to provide swift access to recovery capital in a streamlined manner, bridging the often perilous gap between a disaster and the arrival of traditional aid. Research has shown that without capital support within two weeks, up to 40% of small businesses may close permanently. Thus, LiftFund's proactive response is vital in enhancing economic resilience in affected areas.

As Kimelyn Harris, the head of Small Business Growth Philanthropy at Wells Fargo, noted, "Small businesses are central to community resilience, and timely access to capital is essential in disaster recovery." Wells Fargo has played a key role in supporting LiftFund, contributing nearly $15 million since 1994 to bolster disaster recovery efforts.

A Proven Recovery Model

LiftFund's unique recovery model integrates local partnerships, efficient underwriting processes, and targeted outreach to businesses needing assistance. This approach allows them to verify and deploy funds responsibly while prioritizing the urgency and integrity of financial assistance.

The organization's recent efforts in response to the devastating floods in the Texas Hill Country serve as a prime example of their commitment. LiftFund mobilized $5 million to assist local businesses in reopening, preserving jobs, and rebuilding essential services. Jaime Wesolowski, President and CEO of Methodist Healthcare Ministries, commended LiftFund's impactful strategy, stating, "We witnessed the power of how supporting CDFIs not only aids immediate disaster recovery for small businesses but also strengthens the economic resilience of the region."

Looking Ahead

As LiftFund continues to grow and refine its services, its mission remains clear: To empower entrepreneurs and promote lasting economic prosperity. With over 30 years of experience, LiftFund is dedicated to listening to community needs, providing accessible financial education, and fostering partnerships to bolster small businesses.

For more details about LiftFund and its initiatives, visit LiftFund.com and follow their updates on social media @LiftFundUS.