#United States #Small Business #Kerrville #LiftFund #Texas Floods

LiftFund Mobilizes Over $1 Million for Small Businesses Impacted by Texas Floods

In a powerful response to the catastrophic flooding that recently struck Kerrville and its surrounding areas, LiftFund has taken initiative to provide critical support to small businesses facing severe challenges. The floods not only resulted in significant damage to properties but also brought immense personal loss to numerous families and entrepreneurs in the region.

During this time of need, LiftFund announced it has secured over $1 million in emergency funding, made possible through collaborations with Wells Fargo, Methodist Healthcare Ministries, and H-E-B. Amy Hereford, the President and CEO of LiftFund, articulated the urgency of the situation, stating, "When small businesses suffer, so does the entire community. Recovery of these businesses keeps families in their homes, meals on tables, and it gives people a sense of strength reclaimed."

With the launch of the Hill Country Disaster Recovery Initiative, LiftFund aims to deliver immediate financial relief through two newly established programs: the Hill Country Emergency Grant Program and the Hill Country Disaster Relief Loan Program.

Grant Program Highlights

The Emergency Grant Program is designed to help small businesses and their employees located in the flood-affected areas. Grants of up to $10,000 are available not just for local businesses but also for those outside the affected regions who have experienced significant disruptions due to the flood's impact, including personal losses and property damage.

Loan Program Details

The Disaster Relief Loan Program offers interest-free loans with flexible repayment options. This program is tailored for small businesses located in the impacted zones that have faced operational disruptions due to the recent disaster. Funds from these grants and loans can be utilized for various recovery needs, such as:

• - Replacing lost inventory
• - Covering expenses from temporary closures
• - Supporting flood-related cleanup activities
• - Sustaining essential functions during recovery

Darlene Goins, president of the Wells Fargo Foundation stated, "Small businesses are the heartbeat of a community. It's crucial to bolster resources during challenging times to ensure these businesses can remain open or rebuild post-disaster. LiftFund’s extensive experience in serving small business owners is invaluable in this effort."

Long-term Commitment

LiftFund has been a stalwart supporter of small businesses nationally, having administered hundreds of millions of dollars to aid those impacted by disasters like Hurricanes Katrina and Harvey, as well as the COVID-19 pandemic. This commitment is evident as they reaffirm their intentions to not only provide immediate relief but to aid in the long-term recovery of these businesses and the communities they serve.

For small business owners impacted by the flood, assistance is easily accessible. They are encouraged to visit LiftFund's program website to apply or call 888-215-2372 for guidance and support.

About LiftFund

LiftFund has been a beacon for small entrepreneurs over the past 30 years, focusing on their core mission to empower these individuals and promote economic prosperity. With a history of driving billions in economic impact, LiftFund provides responsible loans, manages impactful grant programs, and offers essential financial education to help foster resilient communities and businesses.

As the community begins the arduous journey of recovery, LiftFund's dedication shines through, reminding us that the strength of one small business reflects the resilience of an entire community. Together, in the wake of this tragedy, there is a commitment to rebuild and restore hope for the future.