Gross receipts include all revenue in whatever form received or accrued, including revenue from sales of product or services, interest, dividends, rents, royalties, fees, or commissions reduced by returns and allowances. Our vision is to transform lives by opening doors, leveling the financial playing field and building a community of shared success through entrepreneurship. The fund will use money earmarked for Harris County recovery from the American Rescue Plan Act. Status. These organizations also supply givers with greater confidence by maintaining broad public support for their programs. Borrowers are required to save the supporting information for four years. Yes. . Charity Navigator - Rating for LiftFund Opt-out: The charity has a written privacy policy published on its website which enables donors to tell the charity to remove their names and contact information from lists the charity shares or sells. 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. Click here for more about theHarvey Economic Development Program (HEDP). Funds must be used for business-related expenses, including payroll, working capital, business rent, inventory, supplies, equipment, and other operating costs. If I have 2 businesses, can I submit an application for each? What type of employees do you need documentation for? Applications will be accepted from Monday. Can I still apply? How do I know if I qualify for the $10,000 construction impact supplement? We leverage finance and accountability data from it to form Encompass ratings. Visit Website. to try again. Read More . Applications will be assessed and scored based on the five components below. Not have filed for bankruptcy at time of application. As long as the address on the utility bill matches the other documentation provided, that can serve as verification of business location. Monday, July 13, 2020 - San Antonio The funds must be used for business-related expenses, including payroll, working capital, business rent, inventory, supplies, equipment, and other operating costs. Monday, August 1 at 10:00 AM through Monday, August 22 at 5:00 PM Central Standard Time. The Bexar County Small Business Assistance program will provide grants to micro and small business owners who have been impacted by the pandemic. If 2021 business return has not been filed, other documents, such as a profit and loss statement may be requested. Charities may submit their own pandemic responses through their nonprofit portal. When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints. For more information about LiftFund, visit. LiftFund reported its two largest programs on its FY 2020 Form 990 as: LiftFund has earned a 99% for the Culture & Community beacon. In some cases, these amounts may include compensation from related organizations. The grant application will require verification of pertinent documentation. ), Paper surveys, Case management notes, Community meetings or town halls, Constituent (client or resident, etc.) If my business opened after April 2020, can I apply? How will you verify my physical business address? As a matter of policy, BBB does not endorse any product, service or business. Our analysts check the charity's website to see if the organization has a donor privacy policy in place and what it does and does not cover. 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. Yes. These grants will provide relief to those struggling financially to help our economy recover and emerge stronger than before. We recognize that not all metrics and beacons equally predict a charitys success. A general website policy which references "visitor" or "user" personal information will not suffice. Do not pay a third party who is not on the list for application assistance. Your mortgage lender will likely ask for W-2s from the last one to two years for each applicant. info@liftfund.com, TO APPLY: Visit covid19.sanantonio.gov/recoverygrants. Click here to. 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. Sources Include: IRS Form 990 and organization's website. SA-based LiftFund looks to help small businesses obtain loans Eligible applicants with the highest scores based on the methodology above will be funded earlier within the grant disburesement time frame, followed by lower scoring applicants. If additional documents are requested, applicants will have 5 business days to submit. The LiftFund partnership with Lendio to process PPP loan forgiveness applications ended on January 31st, 2022. Use the Application Insights query in the Azure Storage Messaging section to filter on that queue name as the Partition ID and look for any problems related to that control queue partition. 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.. All applicants, even if ineligible or not selected for funding, will be notified by December 5. The documents required to be submitted with your application vary by PPP forgiveness application form; however even in the instance where you are not required to submit supporting documentation, you are required to have the information readily available in case of an audit. The application process is not first-come, first-served; all completed applications will be reviewed for eligibility and prioritized based on small business impact parameters. As we prepared, planned and discussed new products and programs, LiftFund was also changing our method of delivering of services as people were no longer able to have face to face engagement with clients or utilize shared office space. The privacy policy must be specific to donor information. As do organizations in other sectors, charities must be mindful of their management of total liabilites in relation to their total assets. By joining our movement, you say yes to financial inclusion and opportunity for all. BBB is here to help. LiftFund supports hard-working small business owners access money and resources they need to grow their business. If this organization aligns with your passions and values, you can give with confidence. Tax forms (or equivalent third-party payroll service provider reports) for the periods that overlap with the Covered Period: Payroll tax filings reported, or that will be reported, to the IRS (typically, Form 941); and, State quarterly business and individual employee wage reporting and unemployment insurance tax filings reported, or that will be reported, to the relevant state, Payment receipts, cancelled checks, or account statements documenting the amount of any employer contributions to employee health insurance and retirement plans that the borrower included in the forgiveness amount. 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. Applications with the highest score based on the methodology below will be considered and funded first. Just like the first rounds, availability of funds is on a first come, first served basis. 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. The processing time for routine applications is taking from 10 to 13 weeks up from six to nine weeks for those who applied before Feb. 6, the State Department said. If I am the only employee of my business, do I need to submit a payroll report or other proof? If I have 2 businesses, can I submit an application for each? Tax-exempt businesses, hobby businesses, gambling businesses, residential builders, speculative real estate investors, government entities and sexually-oriented businesses are not eligible. BBB Business Profiles are provided solely to assist you in exercising your own best judgment. I have not yet filed my 2020 tax return. Expenses paid with PPP funds are now tax deductible. Unlike traditional financial institutions, our programs and services proactively accommodate factors that disproportionately impact small business owners with low credit scores, little to no collateral, and lack of startup wealth. We're here to support determined entrepreneurs like you with loans, tools and resources to grow your business. With the contractors assistance and assessment, LiftFund has made changes in leadership, alignment, communication and efficiency tools. Isaac received a Bachelor of Arts degree from The University of Texas at San Antonio and a Master of . Employ fewer than 500 employees and meet the, Operating prior to January 1, 2020 with documented financials in 2019. P.O. If my gross sales in 2020 were less than 2019 but gross sales in 2021 were greater than 2019- or vice versa- am I eligible? 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. Dividing a charity's average administrative expenses by its average total functional expenses yields this percentage. Acceptable return formats are Schedule Cs, 1120, 1120S and 1065. LiftFund Approved to post Kiva loans from: United States Kiva conducts regular, ongoing monitoring of all Field Partners, but only posts status updates here in response to relevant, major changes at the partner. We disaggregate data to adjust programming goals to keep pace with changing needs of the communities we support. Click here. Need Assistance with CPS or SAWS Payment Options? How BBB Processes Complaints and Reviews. Status update April 1, 2016 Kiva has moved this Field Partner to inactive status. Small businesses are vital to our local economy, said Janie Barrera, President & CEO of LiftFund. All grants will be awarded by January 2022. Privacy policies are assigned to one of the following categories: Yes: This charity has a written donor privacy policy published on its website, which states unambiguously that (1) it will not share or sell a donor's personal information with anyone else, nor send donor mailings on behalf of other organizations or (2) it will only share or sell personal information once the donor has given the charity specific permission to do so. LIFTFUND PROVIDES CREDIT TO SMALL BUSINESSES THAT DO NOT HAVE ACCESS TO LOANS FROM COMMERCIAL SOURCES. Application Period: January 3 @ 10 am January 20 @ 5 pm. 2nd draw PPP for businesses who received PPP the first-round. Registered business operating in Harris County. No Credit: There has been a diversion of assets within the last two years and the charity's explanation on Schedule O is either non-existent or not sufficient. LiftFund saw the struggles small businesses and the communities they serve when Hurricane Harvey devastated the Gulf Coast region and responded with the immediate assistance needed, low to no interest capital and business support. This overall score is calculated from multiple beacon scores, weighted as follows:80% Accountability & Finance, 10% Leadership & Adaptability, 10% Culture & Community. This metric will be assigned to one of the following categories: Full Credit: There has been no diversion of assets within the last two years. The nonprofit provides evidence of leadership through focusing externally and mobilizing resources for the mission. Grant disbursements: September 14,2022 January 9, 2023. We know its been a challenging year, but business owners can access the new stimulus package with confidence and a sigh of relief in this uncertain time. Charity Navigator looks to confirm on the Form 990 that the organization has these governance practices in place. Audited financial statements provide important information about financial accountability and accuracy. Click on apply located on top of this page. Organizations that demonstrate consistent annual growth in program expenses are able to outpace inflation and thus sustain their programs year to year. 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. To check if your business address is located within the city, click, Not be in the following categories: non-profits, gambling/gaming businesses; franchisors; sexually oriented businesses; payday & auto loan providers; liquor stores and businesses in which a City employee or officer has a financial interest, as defined in Sec. Goal Type: Invest in the capacity of our organization (financial, management, technical, etc.). The application will be open for two weeks; application submission will be verified with documents submitted below. She thought about pursuing a career as a pediatric nurse, but that didnt appeal to her entrepreneurial spirit. We seek individuals from various race backgrounds for board and executive director/CEO positions within our organization. Pros. This delivery of programs was achieved through several different methods of COVID-19 relief such as: Applicants may schedule a virtual or phone appointment with LiftFund staff to request help in submitting their application. We will continue to provide and grow these programs across our footprint and scale them as needed. If the charity does report a diversion, then we check to see if it complied with the Form 990 instructions by describing what happened and its corrective action. All applicants will be notified of their application result by January 31, 2022. Though she hopes to collaborate with other cities in the future, Rodriguez says LiftFund can still help . All recipients will be required to complete follow-up surveys in May 2024 and May 2025. here are 7 community partners who have been vetted and trained to assist business owners to submit the application free of charge. Can a third party, such as a CPA, submit an application on behalf of a business owner? How is your organization collecting feedback from the people you serve? Valorie Anne Reynolds is the proud owner of Chica Verde, a vintage home dcor shop in San Antonio, Texas, with a niche in outdoor dcor that features Texas plants. If selected, do I have to pay the grant back? Were familiar with the loan terms and application process and small businesses and can provide support. Checking status of your application | USPTO 2 complaints closed in the last 12 months. Award notifications: March 30- May 8, 2023. Award notifications: September 7,2022- January 6, 2023. BBB Business Profiles are subject to change at any time. 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. 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. Women Founders Network (Women-owned businesses, next round in 2023), National Black MBA Association (Black owned businesses, next round in 2023), Halstead Grant (Female entrepreneurs in jewelry industry, next round 2023), IdeaCafe Grant (Preference for women, next round 2023), EBay Up and Running (Business owners who sell on Ebay, next round 2023), Visa MENA Shes Next Grant Program (Female, Middle Eastern, North African business owners, next round 2023), Tandy Leather Together Foundation (Businesses in the leather industry who are Tandy Leather customers). Eligible applicants with the highest scores based on the methodology above will be notified earlier within that time frame, followed by lower scoring applicants. Yes, the Harris County Small Business Relief program is designed to support micro and small businesses impacted by COVID-19. PPP 2021 Summary - LiftFund All applicants, even if ineligible or not selected for funding, will be notified by May 8. We engage everyone, from the board to staff levels of the organization, in race equity work and ensure that individuals understand their roles in creating culture such that ones race identity has no influence on how they fare within the organization. If selected, do I have to pay the grant back? These local agencies will with the application process to help overcome technological or language barriers. LiftFund will administer the grants, and all completed applications will be reviewed for basic eligibility. Fundraising expenses can include campaign printing, publicity, mailing, and staffing and costs incurred in soliciting donations, memberships, and grants. Partner with LiftFund and connect your client to resources and capital so they begin a path to success. If you file an 1120-S, use Line 1. Operational is defined as a positive amount of gross receipts or sales on the 2019 tax return (Line 1 of Schedule C or Line 1a of 1120, 1120S or 1065). https://www.cclerk.hctx.net/PersonalRecords.aspx#ANInfo. As a sole proprietor, I am not required by the county or state to file a DBA. The organization reported that it is implementing 10 Equity Practices. NLS Borrower Portal - Login - LiftFund The message will come from a LiftFund email address. Since 1994, LiftFund has provided over $409 million in opportunity funding and business education to small business owners and aspiring entrepreneurs. We have community representation at the board level, either on the board itself or through a community advisory board. The program, funded by the City of San Antonio and administered by LiftFund, has dedicated $17,000,000 Million in funding to support for-profit small businesses with grants up to $35,000. If SBA undertakes a review of your loan, your lender will notify you of the review and the SBA loan review decision. I had applied for the S.O.A.R loan through Liftfund with application number XXXXXXXXXX in October 2021. Yes, for financial assistance, please visit www.liftfund.com/loan-offerings. It is based on gross revenue. Upon completion of the award agreement, funds will be deposited into your account within 7 business days. By Posted sevier county septic records In patton state hospital rn salary Grant applicants are only eligible to receive one grant award, Only one grant may be awarded per business with more than one location, Limited to one grant per physical address within Harris County, Drivers license or government-issued photo ID, Proof of business registration with Harris County or TX Secretary of State, Q1 2021 941, payroll report or 1099 to verify number of employees. Grant recipients must keep detailed receipts for expenditure of grant funds. Applications must be completed and submitted along with all the documentation required for verification before 4:59:59 PM CST on Friday January 20, 2023. Since I dont have a 2019 business tax return, what documents do I need to submit to prove negative impact? (Less). San Antonio, TX 78205, Mailing Address You can check the current processing wait times to find out how long your trademark filing could take. We are committed to reviewing applications as quickly as possible. We cant do this work alone, thats where you can come in. If additional documents are requested, applicants will have 5 business days to submit. If selected, do I have to pay the grant back? If we can answer any questions, please dont hesitate to reach out anytime toliftfundpppteam@liftfund.comor call800.920.0585. What challenges does your organization face in collecting feedback from the people you serve? Login. I dont receive a business utility bill. The amount spent to raise $1 in charitable contributions. Applicant must be majority owner of business, Current Drivers license or government-issued photo ID. The nonprofit has an opportunity to tell the story of how the organization adapted to tremendous external changes in the last year. You can submit a copy of your business lease agreement. The Form 990 is a document that nonprofit organizations file with the IRS annually. The funds must be used for business-related expenses, including payroll, working capital, business rent, inventory, supplies, equipment, and other operating costs. If you're not sure what something means regarding the status of your application, contact TAC at TrademarkAssistanceCenter@uspto.gov or 1-800-786-9199. Lendio will need all your business and financial information to assist us in maximizing your 2nd PPP request, so please be ready. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. LiftFund will issue a 1099 in January 2024. LiftFund's mission is to provide credit and services to small businesses and entrepreneurs who do not have access to loans from commercial sources, and to provide leadership and innovation to the micro lending industry. (210) 507-4289. The Liabilities to Assets Ratio is determined by Total Liabilities divided by Total Assets (most recent 990). Business utility bill (water, gas, electric). If I received a PPP or EIDL loan can my business still qualify for the program? The program, funded by the City of El Paso and administered by LiftFund, has dedicated $2,400,000 Million in funding to support local small businesses and nonprofits with grants. We review compensation data across the organization (and by staff levels) to identify disparities by race. Click here to see if your business is located in an impacted area. With whom does your organization share the feedback you got from the people you serve? We calculate the charity's average expenses and average contributions over its three most recent fiscal years. Since 1994, LiftFund has provided over $409 million in opportunity funding and business education to small business owners and aspiring entrepreneurs. (BMF affiliation code: 3). Yes, for financial assistance, please visit, . Applicants will be able to save their progress during the application period. Yes, as long as your business is registered with a DBA. This charity's score is 94%, earning it a Four-Star rating. Some of these experts are board members who share their knowledge and skills with our clients. Gross sales are based on Line 1 of Schedule C or Line 1a of 1120, 1120S or 1065. Expedited processing, which costs $60 more, is taking seven to nine weeks, an increase from three to five weeks. If this organization aligns with your passions and values, you can give with confidence. LiftFund is nonprofit community development financial institution with a 27-year track record of elevating underestimated and underserved communities across its 15-state footprint. If I am not eligible for this grant, are there any other resources for me? The program, funded by the City of San Antonio and administered by LiftFund, has dedicated $17,000,000 Million in funding to support for-profit small businesses with grants up to $35,000. We believe entrepreneurship is a path to financial and family well being and we create products and resources that close the small business finance gap thousands of small businesses face daily. Partial Credit: The charity's audited financials were prepared by an independent accountant, but it did not have an audit oversight committee. Operational is defined as a positive amount of gross receipts or sales on the 2019 tax return (Line 1 of Schedule C or Line 1a of 1120, 1120S or 1065), Be currently in operation and not have filed for bankruptcy at time of application, Be located within San Antonio city limits and remain for one year from date of grant award. More info. Home based businesses may provide a home utility bill. Governor Greg Abbott today announced that Goldman Sachs and the LiftFund, along with other community development financial institutions (CDFIs), are partnering to provide $50 million in loans to small businesses in Texas that have been affected by COVID-19 as part of the Goldman Sachs 10,000 Small Businesses program. Can a third party, such as a CPA, submit an application on my behalf? You can also attend one of our free upcoming seminars, We can be reached by phone at 888-215-2373, by email at, In 2020, LiftFund provided over $98.2 million in prompt financial support to small business owners facing the economic impact of COVID-19, including relief loans, small business grants and PPP loans across its 15-state footprint. Password See the metrics below for more information. Donors can be reluctant to contribute to a charity when their name, address, or other basic information may become part of donor lists that are exchanged or sold, resulting in an influx of charitable solicitations from other organizations. 3. This beacon provides an assessment of the organization's culture and connectedness to the community it serves. The grants will range from $15,000 to $35,000 to eligible small, for-profit businesses. THE TRUTH PANTHER on Twitter: "A forensic investigation company has Visit LiftFund's website to learn more. Eligible small businesses applying or receiving support from other City or County program are able to apply for this program. If you're considering starting a business, LiftFund may be an excellent resource for you. LiftFund Reviews & Complaints 2023: Is the Lender Legit? - Best Company We will also continue to offer flexible consultation sessions with our Business Advisors on matters ranging from finance, sales, e-commerce, and other topics that will help small businesses successfully adapt to and thrive in a post-pandemic business environment. Complete Checklist of Documents Needed for a Mortgage I dont receive a business utility bill. Complete your loan forgiveness application, sign attestations and completed application, and submit it to card@LiftFund.com with the required supporting documents and follow up with your lender to submit additional documentation as requested. Does Not Provide Loan(s) to or Receive Loan(s) From Related Parties, Audited Financial Statements Listed on Website. Can those be counted? Carlos Gutierrez - SBA 504 Loan Specialist - LiftFund | ZoomInfo No, your business must be physically located in the county. We know you and your business need support during this time and we are preparing our Paycheck Protection Program that was launched by SBA through the CARES Act. The program, funded by Bexar County and administered by LiftFund, has dedicated $10,000,000 Million in funding to support nonprofit organizations with grants up to $50,000. Can I still apply? 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. Conduct business activities categorized as one of these NAICS codes. Generally, receipts are considered total income plus cost of goods sold. LiftFund is a designated community development financial institution, or CDFI. Charity Navigator believes nonprofit organizations that engage in inclusive practices, such as collecting feedback from the people and communities they serve, may be more effective. LiftFund's PPP loan maximum loan amount is $250,000, set by SBA guidelines.
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