LiftFund’s Hurricane Relief Support Programs for Small Business Owners
Small businesses are an engine for economic prosperity, and they’re the backbone of our U.S. economy. When a natural disaster like a hurricane strikes, small businesses are critical to rebuilding communities, but they often need support to get back on their feet.
According to the Federal Emergency Management Agency (FEMA), more than 40% of businesses will never reopen after a disaster and from those that do, only 29% will still be in operation after two years. However, these small businesses represent a powerful economic force that generates $1.87 trillion in annual revenue (The Big Picture, AEO) and has the unrivaled potential to create jobs, hire locally and revitalize communities.
LiftFund has historically helped small businesses and communities through Hurricanes Katrina (2005), Ike (2008), Sandy (2012) and now we are ready to help the Texas Gulf coast and Florida rebuild after the devastation of Hurricanes Harvey and Irma.
Texas Small Business Rebuild Initiative
LiftFund, with the support of local and national partners, created a relief fund to support small business owners in the recovery process with loans up to $35,000 at 0% interest coupled with business consultation. Full Press Release.
Since Harvey, LiftFund is proud to have provided $7.2 million in capital to hundreds of small businesses in the gulf coast region. The businesses served through this loan program are diverse: 71% were under 10 years in business; 47% women-owned; 72% entrepreneurs of color and combined created over 450 full-time jobs.
Funding and Financing Partners
Our small business relief efforts are made possible with the generous support of Goldman Sachs 10,000 Small Businesses; Rebuild Texas, a collaborative project of the Michael & Susan Dell Foundation and the Office of the Texas Governor’s OneStar Foundation; JPMorgan Chase; Groupon; and other generous donors to help lift those small businesses and communities affected. LiftFund and our partners stand strong with the small businesses and our special assistance programs aim to help them get back on their feet. If you are interested in contributing to our Hurricane Relief Fund, please Donate Today!
To learn more about our clients and keep up with the rebuilding process in their communities, please visit our blog post: Communities Rebuild after Harvey.