For more information about LiftFund, please call 888-215-2373 or email info@liftfund.com. LiftFund supports hard-working small business owners access money and resources they need to grow their business. Log in Email. Individuals that operate or want to open a small business in McAllen and who are not able to acquire a loan through commercial lending, are eligible for the zero-interest program. Acceptable return formats are Schedule Cs, 1120, 1120S and 1065. Below you will find more details about this program, including eligibility, documents required, scoring methodology and timeline. 2-53 of the Citys Ethics Code, Not have applied for the ARPA 4 Arts program, Applicant must be authorized representative of business, Current Drivers license or government-issued photo ID, Proof of business registration with Bexar County or TX Secretary of State, 1st quarter 2022 Form 941, 1st quarter 2022 payroll report or 1st quarter 2022 check copies to verify number of employees. CORPUS CHRISTI, TEXAS - (May 15, 2020) - The Port of Corpus Christi has allocated a $200,000 grant to LiftFund, a nonprofit community lender, to provide COVID-19 relief loans to eligible small businesses in Nueces and San Patricio counties.. Some of these experts are board members who share their knowledge and skills with our clients. Eligible businesses or nonprofits can apply for the grants by going to. Since I dont have a 2019 business tax return, what documents do I need to submit to prove negative impact? As a result, the Accountability & Finance score for LiftFund is outdated and the overall rating may not be representative of its current operations. We calculate the charity's average total expenses over its three most recent fiscal years. If my revenue was less than $500,000 in either 2019 or 2020 but greater than $500,000 in the other year, am I eligible? Registration is available online. Women Founders Network (Women-owned businesses), National Black MBA Association (Black owned businesses), Halstead Grant (Female entrepreneurs in jewelry industry), EBay Up and Running (Business owners who sell on Ebay), Visa MENA Shes Next Grant Program (Female, Middle Eastern, North African business owners), Tandy Leather Together Foundation(Businesses in the leather industry who are Tandy Leather customers). For in-person application assistance, please contact one of the 7 community navigators to. Do NOT include the following when calculating eligible payroll costs for loan forgiveness: Qualified wages paid during April 1, 2020, through December 31, 2021, that are taken into account for purposes of claiming: are both available from the IRS), and the Employee Retention Credit under section 3134 of the Internal Revenue Code of 1986, as enacted by the American Rescue Plan of 2021. How many businesses will be assisted through this program? LiftFund will administer the grants, and all completed applications will be reviewed for basic eligibility. Goal One: LiftFund continues to listen to clients when creating and designing technical assistance programs and lending products sensitive the current needs of the small business communities we serve. We include in a charity's working capital unrestricted and temporarily restricted net assets, and exclude permanently restricted net assets. These grants will provide relief to those struggling financially to help our economy recover and emerge stronger than before. Instead, in 2015, set her sights on opening a childcare center, where she could educate, support, and influence kids. Business located in areas affected by these construction projects may be eligible for an additional $10,000. If we can answer any questions, please dont hesitate to reach out anytime toliftfundpppteam@liftfund.comor call800.920.0585. Fill form with your details. Is negative impact on operations due to the pandemic based on gross or net revenue? As a sole proprietor, do I submit my full 1040 personal tax return or just my Schedule C? Employee Size for PPP 2nd Draw: Businesses with 300 or fewer employees; for NAICS code businesses starting with 72 (Accommodation & Food Services Industry) 300 or fewer per physical location. For in-person application assistance, please contact one of the 7 community navigators to schedule an appointment. Payroll(provide documentation for all payroll periods that overlapped with the Covered Period): Non-payroll(for expenses that were incurred or paid during the Covered Period and showing that obligations or services existed prior to February 15, 2020 for the first three listed obligations/services): This list of documents required to be submitted to yourlender is not all-inclusive. We are proud to partner with local community organizations collaborating as partners. loading and try your donation again. BBB is here to help. Applicants may schedule a virtual or phone appointment with LiftFund staff to request help in submitting their application. The business must be registered to be considered. Passport Seva. Describe briefly. I use a PO Box on my business registration and/or my tax return. This beacon provides an assessment of the organization's culture and connectedness to the community it serves. Do not pay a third party who is not on the list for application assistance. About the Application Process: As you begin the application process the SBA Form will populate for LiftFund to submit to SBA, so please complete the online application and upload the documents required in the program. If my business has already received COVID funding in the past, am I eligible to apply for this grant? As a sole proprietor, I am not required by the county or state to file a DBA. Applicants selected to receive a grant will receive an award agreement through Docusign. Goal Type: Invest in the capacity of our organization (financial, management, technical, etc.). How will you verify my physical business address? Your mortgage lender will likely ask for W-2s from the last one to two years for each applicant. No, you may only submit one application for one business. The City of Houstons program,Harvey Economic Development Program (HEDP), provides support to impacted small businesses and communities through small business loans and grants. The nonprofit organization presents evidence of strategic thinking through articulating the organizations vision. session will be hosted on Wednesday, March 16 at 3:00 P.M. Business owners will learn more about the program and have an opportunity to ask questions. Operating prior to January 1, 2020 with demonstrated revenue in 2019. LiftFund will administer the grants, and all completed applications will be reviewed for basic eligibility. Tax-exempt businesses, hobby businesses, gambling businesses, residential builders, speculative real estate investors, government entities and sexually-oriented businesses are not eligible. Source: IRS Form 990 (page 7), filing year 2020, Below are some key data points from the Exempt Organization IRS Business Master File (BMF) for this organization. Small businesses are the backbone of our economy and will be critical to our recovery from the economic effects of COVID-19, said District 3 Councilmember and Chair of the Economic and Workforce Development Committee Rebecca J. Viagran. If you're considering starting a business, LiftFund may be an excellent resource for you. APPLY NOW ACCEPTING APPLICATIONS Monday, March 13 at 9:00 AM through Wednesday, May 31 at 5:00 PM Mountain Standard Time, or until funds are exhausted The organization reported that it is implementing 10 Equity Practices. Applicants submitting an IRS Form 990N must submit a Profit and Loss statement containing total revenue for the reporting period. We have long-term strategic plans and measurable goals for creating a culture such that ones race identity has no influence on how they fare within the organization. How this organization adapted to changing conditions caused by COVID-19: When COVID-19 forced LiftFund to send employees home to work virtually, it quickly became apparent that this situation could help build stronger connections amongst our 15-state service region, lifting geographic restraints so team members could support each other remotely. Grants will be awarded in three months beginning in November and continuing through January, 2022. If I am not eligible for this grant, are there any other resources for me? Business Financials: 2019 and 2020 business tax return (additional financial documents, such as bank statements or P&L may be requested if losses cannot be verified by the tax returns), DD 214 proof of military discharge (veterans only), The program has a priority for woman, minority and veteran-owned businesses, Receipt of previous federal COVID-19 funding through PPP loan, EIDL or Harris County grants, The program has a priority for businesses with fewer than 10 employees. As a result of these efforts, our team was proud to deliver $43.6 million in loans, $54.6 million in grants, 7,120 hours of business support, and host a total of 433 training and education events in 2020. Business Bank statements from first quarter of 2020 plus business bank statements from any other quarter in 2020, A January- August profit and loss statement for 2020 and one for January August 2021. As our clients are marginalized and underserved small business owners, they typically do not have trusting relationships with banking institutions. Gross receipts does not include taxes collected. My business was registered and began operating in January March 2020. The voices and perspectives of these underrepresented entrepreneurs are crucial to our work and the services we offer. LiftFunds strategic approach for 28 years has focused on providing small businesses with access to affordable credit and capital while removing barriers for entrepreneurs who are women, low-income, and people of color. Since 1998, LiftFund has provided over $68.7 million in capital and more than 4,300 business loans to East Texas small business owners and entrepreneurs, of which 81% are Black, Indigenous and People of Color (BIPOC), 65% are Low-to-Moderate Income individuals, 43% are women, and 24% are startups. All applicants, even if ineligible or not selected for funding, will be notified by May 8. The Bexar County Small Business Assistance program will provide grants to micro and small business owners who have been impacted by the pandemic. You can submit a copy of your business lease agreement. Were a social enterprise that finds solutions to level the financial playing field for entrepreneurs who are often left out of financial mainstream. 3. The nonprofit organization presents evidence of strategic thinking through articulating the organization's mission. For example, client feedback consistently drives our efforts and decisions to develop creative lending solutions, responsive technical assistance, and new programs and loan products that address unique client challenges and barriers. The City of Houstons program, Harvey Economic Development Program (HEDP). LiftFund and other local community organizations will help applicants navigate the application process and overcome technological or language barriers. Click here to search for this organization's Forms 990 on the IRS website (if any are available). If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile. ), Paper surveys, Case management notes, Community meetings or town halls, Constituent (client or resident, etc.) The Bexar County Small Business Assistance program will provide grants to micro and small business owners who have been impacted by the pandemic. Can a third party, such as a CPA, submit an application on my behalf? Registration is also available online. You will be asked to submit a current business utility bill as part of the application. Am I able to apply for this program and the City of Houston's Harvey Economic Development Program (HEDP)? The LiftFund partnership with Lendio to process PPP loan forgiveness applications ended on January 31st, 2022. Applicants will be able to save their progress during the application period. LiftFund strives to have the resiliency, dedication, and drive to succeed that we see in our clients despite the challenges and adversity they face everyday. Grant eligibility criteria includes: Grant applicant must be authorized representative of business or non-profit . How COVID-19 impacted the organization's delivery of programs: In response to the pandemic, LiftFunds programs quickly shifted to focus on resiliency and recovery strategies for issues such as supply chain and distribution, remote customer service, and specialized support for business industries hit the hardest. If I received a PPP or EIDL loan can my business still qualify for the program? Read More . https://www.cclerk.hctx.net/PersonalRecords.aspx#ANInfo. LiftFund is also offering five webinars to provide the community an overview of the grants program and application process. Categories: City News, Economic Development, Health, COVID, Grants will be awarded in August. The percentage each beacon contributes to the organizations overall rating depends on the number of beacons an organization has earned. You can contact the LiftFund Grants Team at 800-923-9551. Applicants without a, DD 214 proof of military discharge (veterans only). Not be in the following categories: non-profits, gambling/gaming businesses, sexually oriented businesses; payday lenders, or real estate investment. No Credit: The charity did not have its audited financials prepared by an independent accountant. Harris County has created a new $30 Million Small Business Relief Fund to support micro and small businesses recovering from the economic effects of the COVID-19 pandemic. If your business was registered and began operating in January March 2020, you do not need to provide a 2019 tax return. We have a promotion process that anticipates and mitigates implicit and explicit biases about people of color serving in leadership positions. The nonprofit provides evidence of investment in leadership development. here are 7 community partners who have been vetted and trained to assist business owners to submit the application free of charge. Charities may submit their own pandemic responses through their nonprofit portal. what happened to buster edwards daughter. Check the guidance in Durable Functions Best Practice and Diagnostic Tools. To calculate a charity's fundraising efficiency, we divide its average fundraising expenses by the average total contributions it receives. Briefly describe a recent change that your organization made in response to feedback from the people you serve. Charity Navigator looks to confirm on the Form 990 that the organization has these governance practices in place. LiftFund and other local community organizations will help applicants navigate the application process and overcome technological or language barriers. In this case, we deduct 7 points from the charity's Accountability and Transparency score. We provide loans and resources to budding and established business owners; our clients are minority, women, veteran, and startup and established business owners. The Texas nonprofit LiftFund will administer the distribution of funds to applying organizations based on a transparent . This measure reflects the percent of its total expenses a charity spends on the programs and services it exists to deliver. Application Period: January 3 @ 10 am January 20 @ 5 pm. At LiftFund, your investments can transform lives and wed be happy to share how you can join our movement with a gift or an investment. She thought about pursuing a career as a pediatric nurse, but that didnt appeal to her entrepreneurial spirit. The committee provides an important oversight layer between the management of the organization, which is responsible for the financial information reported, and the independent accountant, who reviews the financials and issues an opinion based on its findings. In the wake of the ongoing pandemic, LiftFund continues to utilize small business feedback to adjust programming and service delivery as needed and to ensure we effectively meet client needs. LiftFund has earned a 93% for the Accountability & Finance beacon. Generally, receipts are considered total income plus cost of goods sold. You are welcome to get assistance in completing the application from a third party, however, the business owner should submit their own application and the contact info listed should be for the owner. County Judge Lina Hidalgo this week announced plans for a $30 million relief fund aimed at supporting micro and small businesses. Previously, Carlos was a Director at ACCION Texas. Affordable Capital and Financing: In 2020, we equipped 4,500 small businesses with $98.2 million in relief funding, including: Small Business Loans, Forgivable Loans, Grants, and the Paycheck Protection Program (PPP). Chica Verdes mission is to bring a bit of warmth and green into the life of its customers, who are the center of the business. The Giving Basket is having some issues. As reported by charities on their IRS Form 990, this measure reflects what percent of its total budget a charity spends on overhead, administrative staff and associated costs, and organizational meetings. , provides support to impacted small businesses and communities through small business loans and grants. Be the first to find this review helpful. No, businesses must submit both the 2019 and 2020 business tax returns to be considered,unless the business was registered and began operating in January March 2020, in which case the 2019 return is not required. LiftFund will administer the grants, and all completed applications will be reviewed for basic eligibility. If selected, do I have to pay the grant back? These included increasing revenue earned from our loan portfolio through fees-for-service as well as the development of new loan products to attract new customers. Business utility bill (water, gas, electric) Home based businesses may provide a home utility bill. Monday, August 1 at 10:00 AM through Monday, August 22 at 5:00 PM Central Standard Time. To be eligible for this program, businesses must: Grant funds will not be awarded on a first-come, first-served basis. Part time, full time, and contractors who work for you on a regular basis. Grant disbursements: April 7 May 15, 2023. Dividing these net available assets in the most recent year by a charity's average total expenses, yields the working capital ratio. Were familiar with the loan terms and application process and small businesses and can provide support. Use the tool below to select different beacons to see how the weighting shifts when only one, two, or three beacons are earned. LiftFund was founded in 1994 with a $50,000 grant from the Levi Strauss Foundation and $125,000 in a loan pool of four banks: Frost Bank, Broadway Bank, Chase Bank and Wells Fargo. Charity Navigator looks to confirm on the Form 990, or for some metrics on the charity's website, that the organization has these policies in place. Learn more about the BMF on the IRS website, Described in section 509(a)(2) of the Code (BMF activity code: 995), Loans or grants for minority businesses (BMF activity code: 405), Organization which receives a substantial part of its support from a governmental unit or the general public 170(b)(1)(A)(vi) (BMF foundation code: 15), Independent - the organization is an independent organization or an independent auxiliary (i.e., not affiliated with a National, Regional, or Geographic grouping of organizations). Applicants are eligible to receive only one grant award, Only one grant may be awarded per business with more than one location. The City of San Antonio is available to assist with information and referrals to additional programs that can help your business. An additional $10,000 construction impact supplement is available for those who qualify. Funds must be used for business-related expenses, including payroll, working capital, business rent, inventory, supplies, equipment, and other operating costs. If I am the only employee of my business, do I need to submit a payroll report or other proof? SBA Form 2483 Paycheck Protection Program Borrower Application Form revised Jan 8, 2021; For sole proprietorships and sole member LLC: 2019 Personal Tax Return containing 2019 Schedule C. 2019 1065 Partnership tax Return Containing all schedule K1s, Payroll Processor Records (for 12 months). Headquarters | 2014 S. Hackberry St, San Antonio, Texas 78210, USA, 2021 LiftFund All Rights Reserved | Privacy Policy | Terms of Service, About LiftFundImpactCommunityOur TeamClient Stories, ResourcesBusiness SupportLiftLearnEventsBlog, LoansAm I Ready?Funding OptionsRefer A Client, ChampionsPartnersSupportersClient Marketplace. Status update April 1, 2016 Kiva has moved this Field Partner to inactive status. Spending restrictions will be loosened. By Posted sevier county septic records In patton state hospital rn salary Visit Website. A general website policy which references "visitor" or "user" personal information will not suffice. With the launch of the new Paycheck Protection Program, were providing first-class service and immediate access to the PPP program in partnership with Lendio. 3/20/2023 1:33 AM. Pros. This organization's score of 98 is a passing score. As a matter of policy, BBB does not endorse any product, service or business. (for expenses that were incurred or paid during the Covered Period and showing that obligations or services existed prior to February 15, 2020 for the first three listed obligations/services): Business mortgage interest payments: Copy of lender amortization schedule and receipts verifying payments, or lender account statements, Business rent or lease payments: Copy of current lease agreement and receipts or cancelled checks verifying eligible payments, Business utility payments: Copies of invoices and receipts, cancelled checks or account statements, Covered operations expenditures: Copy of invoices, orders or purchase orders paid, and receipts, cancelled checks or account statements verifying eligible payments, Covered property damage costs: Copy of invoices, orders or purchase orders paid, and receipts, cancelled checks or account statements verifying eligible payments, and verification that costs were related to uninsured property damage due to public disturbance vandalism or looting that occurred in 2020, Covered supplier costs: Copy of contracts, orders or purchase orders in effect at any time before the Covered Period (except for perishable goods), and copy of invoices, orders or purchase orders paid, and receipts, cancelled checks or account statements verifying eligible payments, Covered worker protection expenditures: Copy of invoices, orders or purchase orders paid, and receipts, cancelled checks or account statements verifying eligible payments, and verification that expenditures were used to comply with COVID-19 guidance, Complete your loan forgiveness application, sign attestations and completed application, and submit it to, Guidance on the Employee Retention Credit under Section 2301 of the Coronavirus Aid, Relief, and Economic Security Act(PDF), Guidance on the Employee Retention Credit under the CARES Act for the First and Second Calendar Quarters of 2021(PDF).

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