“Small business is the engine of the U.S. economy.”
We’ve heard variations of this statement for years. And it is TRUE! The economic impact of small businesses is profound: $11 trillion a year, according to the most recent figures available from the U.S. Small Business Administration. There are almost 30 million small businesses in America and they employ half or nearly 57 million of the nation’s private workforce. The vast majority of these firms employ five or fewer workers. In fact, the most recent SBA study reports that nearly 80 percent of small businesses are sole proprietors.
Secondly, self-employment is often the only way for men and women to provide for their families. But starting and sustaining a small business is hard work – and there are often enormous obstacles that keep people from succeeding. Helping them get over the hurdles helps everybody along the way: from your own family to your neighbor’s to your town, your state, your country. In other words, helping small businesses to thrive is like a “chain reaction” that makes America’s economic engine run smoothly and effectively.
Non-Profit Business Loans In The United States
For more than 21 years, LiftFund, a 501(c)(3) nonprofit organization, has helped individuals achieve the American Dream by providing small business lending to those who do not have access to capital from typical lending sources, such as traditional banks. Along with vital business loans, LiftFund provides educational services at no cost to borrowers, which are essential to foster self-sufficiency.
LiftFund: Small Business Lending With A Social Impact
Since we opened our first office in San Antonio with three employees in 1994, we have helped thousands of people achieve the financial stability and growth they so richly deserve as a result of their vision and hard work. We’ve made more than 17,000 small business loans totaling more than $210 million. And we’ve grown to include small business lending in 13 states – enabling us to reach more and more people with each passing year.
What we do is rewarding beyond words. And knowing we are helping at the grassroots level in the communities we serve is a blessing and an honor.
LiftFund is not a U.S. government agency. We are a registered nonprofit organization, but we do get some funding from government institutions. We also apply for grants and loans from private foundations and individuals, other nonprofit organizations, banks, religious congregations and corporate entities.