For small business owners, access to capital can open the door to the next big opportunity. But the cost of borrowing can also make it harder to take that next step.
LiftFund is helping change that for small businesses across the Austin area with a new 0% interest loan program offering up to $100,000 in affordable financing to eligible small business owners. Made possible by a $1 million philanthropic investment from a private funder, the program is designed to put more capital directly into the hands of entrepreneurs so they can start, grow, and scale their businesses without the added cost of interest.
Eligible entrepreneurs can use loan funds for a variety of business needs, including:
- Growth and expansion
- Inventory
- Equipment purchases
- Payroll
- Working capital
- Other expenses that support business growth
The program is available to eligible startups and existing businesses located in Travis, Williamson, Bell, Hays, McLennan, Bastrop, Caldwell, Gillespie, Lampasas, and Mills counties.
From family farms and ranches to neighborhood shops and service providers, the program is designed to support the diverse businesses that create jobs, serve their neighbors, and contribute to the economic vitality of Central Texas.
“Access to affordable capital can make a meaningful difference for small business owners working to turn an opportunity into sustainable growth,” said Amy Hereford, President and CEO of LiftFund. “At LiftFund, we know the impact of lending extends far beyond the loan itself. For every $1 we lend, we see an estimated $14 in economic impact. That means this $1 million investment has the potential to generate $14 million in impact across Central Texas, helping entrepreneurs grow their businesses, create jobs and strengthen the communities they call home.”
Small business owners interested in the Austin-area 0% interest loan program can learn more about eligibility requirements and the application process at liftfund.com/austin-area-zero-loan.
LiftFund will also host a virtual information session on August 18 from 1–2 p.m. CT, where entrepreneurs can learn more about the program, application process, and eligibility requirements and get answers to their questions.
