SAN ANTONIO– BBVA Compass and LiftFund, the nation’s largest nonprofit small business lender, celebrated the grand opening in San Antonio Tuesday of the BBVA Compass LiftFund Lending and Learning Center, named in honor of the BBVA Compass Foundation’s $1 million gift to assist in the development of entrepreneurs and small businesses.
As one of the nation’s leading Small Business Administration lenders, BBVA Compass has a long-standing commitment to small businesses and maintains a cooperative partnership with LiftFund, which has developed a nationally recognized, innovative and proven program for entrepreneurial success. The BBVA Compass Lending and Learning Center, one of the main buildings at the city’s LiftFund Lending and Learning Campus, will be the hub for LiftFund’s microlending for small businesses and entrepreneurs.
“We are both honored and grateful for BBVA Compass’ support and financial commitment to our mission,” said LiftFund President and CEO Janie Barrera. “Being able to provide capital to small business owners is imperative; however, giving them the opportunity to learn about achieving entrepreneurial success is an essential part of who we are as an organization. Because of BBVA Compass’ generosity, we have an opportunity to increase our capacity to fund loans, educate entrepreneurs and positively affect their communities.”
In 2014, LiftFund served over 1,600 individuals, providing nearly 6,000 hours of technical assistance through business advising and educational services. To date, LiftFund has made over 16,000 loans totaling more than $190 million.
“Small businesses are the foundation of strong, thriving communities,” said BBVA Compass Chairman and CEO Manolo Sánchez. “Our $1 million gift to LiftFund allows us to team up with this great organization to empower small businesses to move themselves and their neighborhoods forward.”