SAN ANTONIO – The United States Small Business Administration (SBA) named LiftFund one of its top 25 lenders in the nation for their Community Advantage (CA) and Microloan programs. LiftFund also landed a leading spot in the combined rankings of the SBA's Office of Economic Opportunity Lenders report.
LiftFund received the following rankings:
- SBA CA 7a – 4th top lender by number of loan approvals
- SBA CA 7a – 6th top lender by loan amount totals in dollars
- Microloan – 8th top lender by number of loan approvals
- Microloan – 22nd top lender by loan amount totals in dollars
- Combined – 5th top lender for both loan approvals and loan totals
The SBA 7a Community Advantage loan product was designed to increase access to capital for underserved communities whose small business owners typically find it difficult to secure funding from traditional sources. This type of loan can range from $25,000 to $250,000. A microloan is categorized as loans below $50,000.
"Awards like these not only show that we are increasing opportunities for entrepreneurs, but that we are dedicated to serving small businesses throughout our footprint," said Janie Barrera, LiftFund President and CEO. "We are both honored and excited to be recognized by the SBA but most of all we are proud of the businesses we've help support for 21 years."
About LiftFund
Established in 1994 in San Antonio, Texas, LiftFund is a financial and business-support service organization that helps entrepreneurs strengthen their businesses, stabilize and increase their incomes, create employment and contribute to the economic revitalization of their communities. LiftFund has the nation's largest microlender portfolio and is committed to providing capital to entrepreneurs who do not have access to loans from commercial sources. Since its inception, LiftFund has made over 16,000 loans totaling more than $190 million.