This overall score is calculated from multiple beacon scores, weighted as follows:80% Accountability & Finance, 10% Leadership & Adaptability, 10% Culture & Community. 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. 2. The 3508EZ and the 3508S are shortened versions of the application for borrowers who meet specific requirements. Small Business Assistance Program - Bexar County Grants 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 is nonprofit community development financial institution with a 27-year track record of elevating underestimated and underserved communities across its 15-state footprint. Applicants may schedule a virtual or phone appointment with LiftFund staff to request help in submitting their application. Need Assistance with CPS or SAWS Payment Options? 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. San Antonio, TX 78205, Mailing Address Be currently in operation. 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. I dont receive a business utility bill. The City of Houstons program, Harvey Economic Development Program (HEDP). The application period opens Monday, July 13, 2020 and closes on Monday, July 27, 2020 with $24.7 million available. We include in a charity's working capital unrestricted and temporarily restricted net assets, and exclude permanently restricted net assets. DBA/Assumed name certificate filed with Bexar County or certificate of formation/incorporation filed with TX Secretary of State. This charity's score is 94%, earning it a Four-Star rating. I have not yet filed my 2020 tax return. A list of our partner agencies and their contact information can be found, Yes. The application period opens Monday, July 13, 2020 and closes on Monday, July 27, 2020 with $24.7 million available. Pros. Join our movement in leveling the financial playing field and breaking the cycle of poverty through entrepreneurship. Funds can also be used to pay for mortgage interest, rent, utilities, worker protection costs related to COVID-19, uninsured property damage costs caused by looting or vandalism during 2020, and certain supplier costs and expenses for operations. We ask team members to identify racial disparities in their programs and/or portfolios. Quarterly: receipts for 2019 quarter and receipts for same quarter in 2020; For business not operating in 2019, receipts for first quarter of 2020 and receipts for third or fourth quarter for comparison; For applicants selecting annual comparison, provide 2019 tax returns and 2020 tax returns. Contact Information. The grant funds will be awarded monthly beginning in November 2021 and through January 2022. Grant recipients must keep detailed receipts for expenditure of grant funds. Our leadership team and regional directors have been speakers and panelists in conferences across the states and our President and CEO was appointed to the Advisory Council on Financial Capacity by President Obama. advisory committees. 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. Applicants submitting an IRS Form 990N must submit a Profit and Loss statement containing total revenue for the reporting period. Use the tool below to select different beacons to see how the weighting shifts when only one, two, or three beacons are earned. Texas Travel Industry Recovery Grant Program - Greg Abbott 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. The program, funded by Bexar County and administered by LiftFund, has dedicated $10,000,000 Million in funding to support for-profit small businesses with grants up to $50,000. 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 received a PPP or EIDL loan can my business still qualify for the program? 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. Do not pay a third party who is not on the list for application assistance. Award notifications: March 30- May 8, 2023. 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. SBA has up to 90 days to review and approve the forgiveness request. More information about the partner organizations can be found, You will receive a confirmation email from. If you reported income from your current business on your schedule C in 2019 and 2020, you may file a DBA at this time and be considered. Upon graduating, Sophies aunt encouraged her to pursue an ASL career and follow her passion of bridging the gap between the deaf and hearing communities. Password (Note that reporting these qualified wages in the payroll costs entered on your loan forgiveness application will affect the amount of qualified wages that can be used to claim the employee retention credit.). LiftFund supports hard-working small business owners access money and resources they need to grow their business. County Judge Lina Hidalgo this week announced plans for a $30 million relief fund aimed at supporting micro and small businesses. You may still submit the home utility bill. Home - City of El Paso Small Business COVID Grants Program As the entire organization moved to working from home, LiftFund IT Department had to work overtime to ensure all staff had the necessary equipment and tools to continue accessing work product and communicating with each other. CEO Approval. Be in good standing with the TX Comptrollers office, if applicable. Mr. Isaac Elizondo, Regional Vice President. 2019, 2020, 2021 business tax return. As our clients are marginalized and underserved small business owners, they typically do not have trusting relationships with banking institutions. Visit Website. Full Credit: The charity's audited financials were prepared by an independent accountant with an audit oversight committee. Check the guidance in Durable Functions Best Practice and Diagnostic Tools. The City of Houstons program,Harvey Economic Development Program (HEDP), provides support to impacted small businesses and communities through small business loans and grants. As a result, the Accountability & Finance score for LiftFund is outdated and the overall rating may not be representative of its current operations. 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. Fundraising expenses can include campaign printing, publicity, mailing, and staffing and costs incurred in soliciting donations, memberships, and grants. We're here to support determined entrepreneurs like you with loans, tools and resources to grow your business. Isaac received a Bachelor of Arts degree from The University of Texas at San Antonio and a Master of . Were familiar with the loan terms and application process and small businesses and can provide support. By joining our movement, you say yes to financial inclusion and opportunity for all. We are committed to reviewing applications as quickly as possible. Harris County to Launch New $30M Small Business Recovery Program 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. Eligible small entities, that together with their affiliates (if applicable), have 500 or fewer employeesincluding nonprofits, veteran organizations, tribal concerns, self-employed individuals, sole proprietorships, and independent contractors. Applicants without a business tax return for 2019 and 2020 are not eligible. 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. 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. Yes, for financial assistance, please visit www.liftfund.com/loan-offerings. Tax-exempt businesses, hobby businesses, gambling businesses, residential builders, speculative real estate investors, government entities and sexually-oriented businesses are not eligible. For more information about LiftFund, please call 888-215-2373 or email info@liftfund.com. The City of San Antonio is available to assist with information and referrals to additional programs that can help your business. In response to these concerns, LiftFund recently revised the job titles of our Lending Assistants to Lending Consultants, a descriptor that has garnered greater trust and confidence from our clients and more fully conveys to them the expertise of our lending team. If SBA undertakes a review of your loan, your lender will notify you of the review and the SBA loan review decision. Of the small business owners we serve, 82% are minority, 67% are low- to moderate-income (LMI), and 40% are women. This measure reflects the percent of its total expenses a charity spends on the programs and services it exists to deliver. Monday, July 13, 2020 - San Antonio 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. Where Kiva works | Kiva For this reason, they come to LiftFund and readily share highly personal information with our team, such as tax forms, annual revenues, and other business documents as they look to secure capital. We check the charity's last two Forms 990 to see if the charity has reported any diversion of assets. Home based businesses may provide a home utility bill. LiftFund and other local community organizations will help applicants navigate the application process and overcome technological or language barriers. Not be in the following categories: non-profits, gambling/gaming businesses, sexually oriented businesses; payday lenders, or real estate investment. Grant applicant must be authorized representative of business or non-profit organization; Businesses and nonprofits with twenty (20) employees or less including full-time, part-time or contract employees; Annual gross business revenue or nonprofit organizations board approved budget less than $2 million; Located within San Antonio city limits and must be willing to remain within boundaries for at least one calendar year from the date of grant award; Business and non-profits must not be in the process of filing for bankruptcy; Demonstrate a loss of at least 15% of revenue for the period beginning March 1, 2020 due to negative impact related to the COVID-19 pandemic; Business or nonprofit must be established prior to August 1, 2019; Businesses or nonprofits that received a grant through the Bexar County LiftFund Program are not eligible for grant consideration; The following type of businesses are not eligible for consideration: professional services, such as certified public accountant, architect, landscape architect, land surveyor, physician, optometrist, engineer, real estate appraiser, attorney, interior design, veterinarian; gambling/gaming businesses; national franchises; 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. You will need to submit your 2020 tax return. 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. Check this, Must have 30 or fewer employees (including part time, contractors and full-time employees and owners), Experienced negative impact on operations due to the pandemic, Annual revenue of less than $500,000 dollars in 2019 and 2020, Be in good standing Texas Comptrollers office with no outstanding tax obligations or liabilities. Can I apply? *In Canada, trademark(s) of the International Association of Better Business Bureaus, used under License. This organization was impacted by COVID-19 in a way that effected their financial health in 2020. (210) 507-4289. Registering with us does not restrict your ability in any way to also apply elsewhere. I dont receive a business utility bill. Learn more about our criteria and methodology. Passport application timeframe. A list of our partner agencies and their contact information can be found here. Below you will find more details about this program, including eligibility, documents required, scoring methodology and timeline. Ebony Harris has a special way with children its a gift. Instead, in 2015, set her sights on opening a childcare center, where she could educate, support, and influence kids. To calculate a charity's fundraising efficiency, we divide its average fundraising expenses by the average total contributions it receives. Tuesday, January 3 at 10:00 AM through Friday, January 20 at 5:00 PM Central Standard Time. ACCEPTING APPLICATIONS. You can submit a copy of your business lease agreement. The amount spent to raise $1 in charitable contributions. 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. Award notifications: September 7,2022- January 6, 2023. Please check with the charity directly for any questions you may have. If you need assistance, please send us an email to card@liftfund.comor call us at (888) 215-2373. The Form must also be accompanied by the 990N attestation form. The grants team will reach out to applicants by phone or email if additional documents or clarification is needed. The application period has ended. There are three different PPP forgiveness applications: The 3508EZ and the 3508S are shortened versions of the application for borrowers who meet specific requirements. Am I able to apply for this program and the City of Houston's Harvey Economic Development Program (HEDP)? We have a promotion process that anticipates and mitigates implicit and explicit biases about people of color serving in leadership positions. LiftFund is a non-profit organization that helps small businesses who have a hard time . Spending restrictions will be loosened. No, you may only submitan application for one of your businesses. Microfinance Market Research, 2023-2030 - MarketWatch I use a PO Box on my business registration and/or my tax return. Businesses can 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? LiftFund's began in San Antonio, Texas in 1994 in conjunction with the micro-lending organization Accin International that offers micro-loans in Latin America. 2-53 of the Citys Ethics Code. If borrowers do not apply for forgiveness within 10 months after the last day of the covered period, then PPP loan payments are no longer deferred, and borrowers will begin making loan payments to their PPP lender. , provides support to impacted small businesses and communities through small business loans and grants. NonProfit - Bexar County Grants Can a third party, such as a CPA, submit an application on my behalf? 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 December 5. If my business has already received COVID funding in the past, am I eligible to apply for this grant? How will you verify my physical business address? Organizations that demonstrate consistent annual growth in program expenses are able to outpace inflation and thus sustain their programs year to year. Expenses paid with PPP funds are now tax deductible. Grants will be awarded in August. Passport Seva. Log in Email. These grants will provide relief to those struggling financially to help our economy recover and emerge stronger than before. Funds must be used for business-related expenses, including payroll, working capital, business rent, inventory, supplies, equipment, and other operating costs. Your lender is responsible for notifying you of the forgiveness amount paid by SBA and the date on which your first payment will be due, if applicable. My business is home based and all of my utilities are in someone elses name. LiftFund will administer the grants, and all completed applications will be reviewed for basic eligibility. LiftFund incorporates the same mission and ideas in the U.S that Accion uses in Latin America. 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. Governor Abbott, Goldman Sachs, LiftFund Announce $50 Million in Loans 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. How will you verify my physical business address? (provide documentation for all payroll periods that overlapped with the Covered Period): Bank account statements or third-party payroll service provider reports documenting the amount of cash compensation paid to employees. $30 Million Small Business Recovery Grant Program Below you will find more details about this program, including eligibility, funding methodology and timeframe. (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). Liftfund Dallas | Better Business Bureau Profile 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? 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. International Association of Better Business Bureaus. Customer Reviews are not used in the calculation of BBB Rating, Need to file a complaint? The amounts do not include nontaxable benefits, deferred compensation, or other amounts not reported on Form W-2. Business utility bill (water, gas, electric) Home based businesses may provide a home utility bill. To be eligible for this program, businesses must: Applications will not be considered on a first come, first served basis. How a donor can have themselves removed from a list differs from one charity to the next, but any and all opt-out policies require donors to take specific action to protect their privacy. Be the first to find this review helpful. This beacon provides an assessment of the organization's leadership capacity, strategic thinking and planning, and ability to innovate or respond to changes in constituent demand/need or other relevant social and economic conditions to achieve the organization's mission. If you are a LiftFund PPP borrower seeking a second draw, please be ready with all your documents to submit through Lendio. 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. LiftFund's PPP loan maximum loan amount is $250,000, set by SBA guidelines. The existence of a privacy policy of any type does not prohibit the charity itself from contacting the donor for informational, educational, or solicitation purposes. We provide loans and resources to budding and established business owners; our clients are minority, women, veteran, and startup and established business owners. 1. We expect around 2,000 micro and small businesses to be assisted. LiftFund can loan between $500 to $500,000 to businesses. As do organizations in other sectors, charities must be mindful of their management of total liabilites in relation to their total assets. Business located in areas affected by these construction projects may be eligible for an additional $10,000. You will receive a confirmation email from noreply@bmisw.com. 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. CDFIs are working in neighborhoods across the United States to provide affordable, responsible credit, create and sustain jobs, and to stabilize communities. We believe you deserve a path to success and were here to close the small business finance gap thousands of small businesses face daily. We recognize that not all metrics and beacons equally predict a charitys success. This beacon provides an assessment of the organization's culture and connectedness to the community it serves. Expedited processing, which costs $60 more, is taking seven to nine weeks, an increase from three to five weeks. Applications with the highest score based on the methodology below will be considered and funded first. For assistance, please contact 210-207-3924 orSmallBizInfo@sanantonio.govfor more information. The Harris County Small Business Relief Fund will provide grants ranging from $5,000 to $25,000 to eligible micro and small businesses. Applicants are eligible to receive only one grant award, Only one grant may be awarded per business with more than one location. 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. Can I still apply? Most importantly, the entire loan can be forgiven, 1st draw for businesses applying for the PPP for the first-time. If you file a Schedule C, use Line 1. The application period opens Monday, July 13, 2020 and closes on Monday, July 27, 2020 with $24.7 million available. * Click here to learn more about the equity score, ** Includes PPP, EIDL, Restaurant Revitalization Fund, COSA Recovery grant and COSA Hospitality grants. NLS Borrower Portal - Login - LiftFund It is based on gross revenue. Additionally, please uploadoneof the two options below to the application: The amount you are eligible for is based on the number of full time equivalent (FTE) employees you have. How is your organization using feedback from the people you serve? Applicants will be able to save their progress during the application period. The grants will range from $15,000 to $35,000 to eligible small, for-profit businesses. . I am reaching out to you for assistance as my business is in need of funding. We will be hosting virtual info sessions to provide an overview of this grant program. Eligible businesses or nonprofits can apply for the grants by going to covid19.sanantonio.gov/recoverygrants or by calling 1-800-494-4973. All grants will be awarded by January 2022. Though she hopes to collaborate with other cities in the future, Rodriguez says LiftFund can still help .
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