Grant disbursements: September 14,2022 January 9, 2023. Employee Size for PPP 2nd Draw: Businesses with 300 or fewer employees; for NAICS code businesses starting with 72 (Accommodation & Food Services Industry) 300 or fewer per physical location. Please attached copies of your 2020 1099s in the application or submit a payroll report. You're faster than our page! As a result of these efforts, our team was proud to deliver $43.6 million in loans, $54.6 million in grants, 7,120 hours of business support, and host a total of 433 training and education events in 2020. You have to wear a lot of hats and it can be fast-paced. If your business was registered and began operating in January March 2020, you do not need to provide a 2019 tax return. We cant do this work alone, thats where you can come in. The fund will use money earmarked for Harris County recovery from the American Rescue Plan Act. Partial Credit: There has been a diversion of assets within the last two years and the charity has used Schedule O on the Form 990 to explain: the nature of the diversion, the amount of money or property involved and the corrective action taken to address the matter. Passport application delays could derail summer travel This measure reflects what a charity spends to raise money. what happened to buster edwards daughter. Applicant must be majority owner of business, Current Drivers license or government-issued photo ID. Click on apply located on top of this page. Check the guidance in Durable Functions Best Practice and Diagnostic Tools. Learn more about the BMF on the IRS website, Described in section 509(a)(2) of the Code (BMF activity code: 995), Loans or grants for minority businesses (BMF activity code: 405), Organization which receives a substantial part of its support from a governmental unit or the general public 170(b)(1)(A)(vi) (BMF foundation code: 15), Independent - the organization is an independent organization or an independent auxiliary (i.e., not affiliated with a National, Regional, or Geographic grouping of organizations). The Bexar County Small Business Assistance program will provide grants to micro and small business owners who have been impacted by the pandemic. Home based businesses may provide a home utility bill. Valorie Anne Reynolds is the proud owner of Chica Verde, a vintage home dcor shop in San Antonio, Texas, with a niche in outdoor dcor that features Texas plants. PPP 2021 Summary - LiftFund Mr. Isaac Elizondo, Regional Vice President. As an entrepreneur with limited business education, Valorie lacked the traditional business acumen of many of her competitors. Yes, but: The times do not include . No, revenue must be less than $500,000 in both 2019 and 2020. We calculate the charity's average expenses and average contributions over its three most recent fiscal years. 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. Second Draw PPP Loans can be used to help fund payroll costs, including benefits. No, number of employees will be calculated based on first quarter 2021. See the metrics below for more information. 2021 gross sales must be at least 20% lower in 2021 than in 2019. We will contact you by phone or email if additional documentation or clarification is needed. If SBA undertakes a review of your loan, your lender will notify you of the review and the SBA loan review decision. The nonprofit has an opportunity to tell the story of how the organization adapted to tremendous external changes in the last year. Can a third party, such as a CPA, submit an application on behalf of a business owner? LiftFund has deep roots in Harris County and is a champion for our small business community. LiftFund is a non-profit organization that helps small businesses who have a hard time . Please check spam and trash in case it was blocked. They created new platforms and took additional security measures to prevent any confidentiality breaches and improved our website to be as user friendly as possible during a very complicated time. LiftFund and other local community organizations will help applicants navigate the application process and overcome technological or language barriers. LiftFund will issue a 1099 in January 2024. Dividing a charity's average fundraising expenses by its average total functional expenses yields this percentage. BBB Business Profiles may not be reproduced for sales or promotional purposes. You can check the current processing wait times to find out how long your trademark filing could take. How can I prove my address? SBA Form 2483 Paycheck Protection Program Borrower Application Form revised Jan 8, 2021; For sole proprietorships and sole member LLC: 2019 Personal Tax Return containing 2019 Schedule C. 2019 1065 Partnership tax Return Containing all schedule K1s, Payroll Processor Records (for 12 months). If the problem persists contact us. Expedited processing, which costs $60 more, is taking seven to nine weeks, an increase from three to five weeks. LiftFund, City of McAllen, offer interest-free loans to support small 2014 S HACKBERRY STSan Antonio TX 78210-3541, San AntonioTX | IRS ruling year: 1994 | EIN: 74-2712770, The Mission of LiftFund is to provide credit and services to small businesses and entrepreneurs who do not have access to loans from commercial sources and to provid (More)The Mission of LiftFund is to provide credit and services to small businesses and entrepreneurs who do not have access to loans from commercial sources and to provide leadership and innovation to the microlending industry. If my business is located outside of Bexar County but I serve customers within the county, can I apply? If my business is located outside of Harris County but I serve customers within the county, can I apply? Registering with us does not restrict your ability in any way to also apply elsewhere. The LiftFund partnership with Lendio to process PPP loan forgiveness applications ended on January 31st, 2022. Yes, you are eligible for consideration. Negative impact can be demonstrated by a decline in either gross or net revenue between 2019 and 2020. Paycheck Protection Program Interest Form - LiftFund We have a promotion process that anticipates and mitigates implicit and explicit biases about people of color serving in leadership positions. I asked on several occasions for my application to be reprocessed for the correct application to no avail. Eligible applicants with the highest scores based on the methodology above will be funded earlier within that time frame, followed by lower scoring applicants. Isaac Elizondo - Vice President, Region (No.. - LiftFund | ZoomInfo Applications must be completed and submitted along with all the documentation required for verification before 4:59:59 PM CST on Friday January 20, 2023. The application review period will start on October 5, 2021 and continue through January 9, 2022. However, due to system issues my application was not processed for the S.O.A.R Loan but instead it went in as a regular application. Visit LiftFund's website to learn more. LiftFund reported its two largest programs on its FY 2020 Form 990 as: LiftFund has earned a 99% for the Culture & Community beacon. No, your business must be physically located in the county. No, businesses must submit both the 2019 and 2020 business tax returns to be considered,unless the business was registered and began operating in January March 2020, in which case the 2019 return is not required. LiftFund was one of the first CDFI's to pivot at the onset of the pandemic to mitigate the negative impact it was having on small businesses and communities everywhere. $30 Million Small Business Recovery Grant Program Partnerships: In partnership with generous supporters, we launched a variety of COVID relief options for small businesses in collaboration with municipal governments, foundations, banks, and various corporations. If my business is located outside of the City of San Antonio but I serve customers within the city, can I apply? LiftFund | Small Business Loans, Microloans, SBA Loans for Women 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. We are proud to partner with local community organizations collaborating as partners. Previously, Isaac was an Insurance & Financial Serivce s Agent at Farmers Insurance and also held positions at Farmers Insurance, BBVA, JPMorgan Chase. Gross sales are based on Line 1 of Schedule C or Line 1a of 1120, 1120S or 1065. loading and try your donation again. We check the charity's last two Forms 990 to see if the charity has reported any diversion of assets. APPLY NOW ACCEPTING APPLICATIONS Monday, March 13 at 9:00 AM through Wednesday, May 31 at 5:00 PM Mountain Standard Time, or until funds are exhausted