LiftFund, a San Antonio-based small business lender, has reached the benchmark of $250 million in small business and entrepreneur loans -- a milestone it will mark by highlighting lender stories throughout July.
“This is an occasion for LiftFund to celebrate our clients, reflect on the impact of our work and recognize how to better support entrepreneurs,” LiftFund President and CEO Janie Barrera said in the company’s announcement. “Community and nonprofit micro- and small-business lending is an effective and proven strategy to build financial stability and self-sufficiency. Many times, a community small business lender is the only alternative to startups, and those with blemished credit and limited collateral. LiftFund has a successful repayment rate of 95 percent from their clients, despite the barriers they face, including being underbanked.”
LiftFund, which operates in 13 states, boasts one of the largest microlending portfolios in the U.S. The company has provided over 18,000 loans totaling $250 million.
“Our mission is to serve those without access to commercial lending sources and knowing that we give entrepreneurs an opportunity to realize their dreams is very gratifying,” Barrera said in the announcement.