About
LiftFund is a nonprofit Community Development Financial Institution (CDFI) headquartered in San Antonio, Texas, that provides micro and small business loans, along with support services, to entrepreneurs who do not qualify for traditional financing. Founded in 1994 by Janie Barrera with three employees, the organization began as Accion Texas and rebranded to LiftFund in 2015. Its stated purpose: "We're changing lives through financial resources and support services designed to promote economic growth."
Mission
LiftFund's mission centers on changing lives through financial resources and support services designed to promote economic growth, opening the door to capital for small business owners who are underserved by traditional lenders.
What they do
- Microloans and small business loans for entrepreneurs who don't qualify for traditional financing
- SBA lending, including SBA 7(a) Community Advantage and SBA 504 loan products
- Support services and guidance for business owners alongside its lending
- Grant and capital programs: between 2020 and 2023 it provided $133.7 million in grants and $43 million in capital
History
LiftFund was founded in San Antonio in 1994 by Janie Barrera, starting with three employees under the name Accion Texas. In 2015 the organization rebranded as LiftFund, and it has since expanded from its Texas roots to serve entrepreneurs across multiple states nationwide.
Scale and impact
Impact figures published by LiftFund (as of 2024) include:
- Nearly $1 billion in total funding dispersed since founding, up from $327 million distributed by the end of 2019
- More than 28,000 business owners served
- 104,000 jobs created and retained
Financials
Per LiftFund Inc's fiscal year 2023 Form 990 data on ProPublica Nonprofit Explorer (EIN 74-2712770), the organization reported total revenue of about $40.6 million, including $29.2 million in contributions and grants and $10.4 million in program service revenue, against total expenses of about $40.1 million. Year-end total assets were about $98.2 million. LiftFund is an IRS-recognized 501(c)(3) organization based at 2007 W. Martin St., San Antonio, TX.