San Antonio – LiftFund announced Tuesday that all U.S. military veteran business owners will now qualify for a 5% interest rate for business loans with LiftFund. This is an expansion of the LiftFund Heroes Loan Program, in partnership with USAA, which has helped veterans across LiftFund’s 13-state footprint to start or grow their businesses since 2008.
Veteran-owned small businesses are essential to job growth in communities throughout the country. According to the U.S. Census Bureau, there are over 11,000 veteran-owned businesses in San Antonio. In 2016, LiftFund disbursed 25 small business loans totaling over $570,000 to San Antonio veteran entrepreneurs. LiftFund has provided more than 200 small business loans totaling more than $4 million to San Antonio veterans since 2008.
“Providing 5% interest rate loans for veterans and their families is something we believe is the right thing to do for the sacrifices they took to preserve our freedom,” said Janie Barrera, LiftFund President & CEO. “With this new rate, we further support veterans as they realize their dreams and find success as business owners.”
In addition to the lowered loan rate, LiftFund provides business and financial counseling to veterans and their families at no cost.
Earlier this year, LiftFund formalized a collaboration with the SBA – the Women Veteran Entrepreneurship Training Program-- to further its support for veterans and spouses across the state of Texas. Though these programs, LiftFund can continue to provide tailored information and resources to veterans interested in opening or growing their small businesses.
About WVET
The Women Veterans Entrepreneurship Training (WVET) is a program of LiftFund and a resource partner of the U.S. Small Business Administration. We provide innovative business support services like technical and soft skill trainings, accelerator programs, individual consultations, and other services through strategic partnerships with other small business service providers, in addition to small business loans. The LiftFund WVET Program is funded in part by the US Small Business Administration’s Office of Veterans Business Development.
About LiftFund
Established in 1994 in San Antonio, 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 one of the largest microlending portfolios in the nation, 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 19,000 loans totaling more than $250 million. LiftFund operates in 13 states – Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, New Mexico, Mississippi, Missouri, Oklahoma, South Carolina, Tennessee and Texas. To learn more about LiftFund visit www.liftfund.com.
