Frequently asked questions about disaster relief programs for small businesses from LiftFund ENTREPRENEUR

Thank you for your interest in LiftFund. Please note that due to COVID-19 we currently have an extremely high volume of inquiries and applications. It is never our intention for a customer to receive late communications from us. However, in the next few weeks we will need a little more time than usual for our aftercare as our entire team works hard to serve you in this difficult time.

To promptly address your concerns, we have compiled a list of the most frequently asked questions.

Q: I am interested in applying for one LiftFund Disaster relief loan. Is that possible at this time??

A: The demand for finance for small businesses was huge. We do not currently accept loan applications. We recommend that you fill out our COVID-19 loan Interest form So we can inform you as soon as the application is opened again.

Q: I am interested in applying for a disaster relief loan in Bexar County. What should i do next?

A: The Bexar County Small Business Loan Program offers 0% interest loans of up to $ 25,000 to help small businesses in Bexar County who have experienced financial losses as a result of COVID-19. This also includes a delay in payment for the first 120 days. More information, including admission guidelines and application procedures, can be found here.

Q: I am interested in applying for a disaster relief loan in the city of Corpus Christi. What should i do next?

A: The Corpus City Disaster Relief Loan Program offers 0% interest rate loans of up to $ 25,000 to help small businesses in the city of Corpus Christi that have experienced financial losses as a result of COVID-19. For more information about our loan program, including eligibility guidelines and the application process, click here.

Q: Why is LiftFund? offer financing just in certain communities?

A: As a nonprofit lender to small businesses, LiftFund is proud to work with financial institutions, government agencies, foundations and other organizations to provide business entrepreneurs and educational services to small businesses in the communities in which we operate. With the support of our generous partners, we have developed special loan programs that address specific needs and may also help lower the interest rate on our loans. Such programs often include additional policies and restrictions set by our partner agencies, such as: B. geographic areas or target groups.

Q: I am interested in applying for the Paycheck Protection Program (PPP). What should i do next?

A: The SBA recently announced that the PPP funds have been used up. However, Congress passed a new law to facilitate small businesses that provides additional funds for the paycheck protection program to support small businesses. We monitor the invoice closely and recommend that you fill out ours PPP interest form This is how you can get our latest updates.

Q: I have already applied for the Paycheck Protection Program (PPP). Should I apply to another bank?

A: If you have already applied for PPP with LiftFund or another lender and have received confirmation of this submission, the SBA recommends that you do not make a second application. This can delay the process and funding.

Q: Why did LiftFund debit my credit?

A: If you have noticed a loan request from LiftFund, it means that your application has been received and is currently being processed. We will contact you when examining your application.

Q: What other Does LiftFund offer resources?

A: We offer business owners a variety of virtual learning opportunities to connect with other entrepreneurs, share insights and learn from each other. Visit our event page to register today.

LiftFund also offers business consulting sessions that allow you to develop new ideas or share additional resources when available. Set up a counseling session by filling out this form.

Q: Are there other helpful links for small businesses?

A: As you know, things change quickly and we recommend that you keep in touch with relevant business organizations in your community. In addition, here are some helpful national resources:

SBA: Loan resources for small businesses

U.S. Department of Labor: Ministry of Labor website for unemployment benefits

RESULT: Corona virus hub for small businesses

Center for Disease Control and Prevention: Interim guide for companies and employers to plan and respond to COVID-19

U.S. Chamber of Commerce:

Best practices for corona virus for small businesses

Corona virus tips for employees in the workplace

Small business support resources

Strategies for customer loyalty

For the latest information on COVID-19, see the Centers for Disease Control Here and your individual state and city public health services.

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