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. LiftFund has deep roots in Harris County and is a champion for our small business community. For some, entrepreneurship is the only source of income, and a pathway out of poverty. You can view the list of prohibited NAICS codes here. Give the page a little longer to finish LiftFunds strategic approach for 28 years has focused on providing small businesses with access to affordable credit and capital while removing barriers for entrepreneurs who are women, low-income, and people of color. The documents required to be submitted with your application vary by PPP forgiveness application form; however even in the instance where you are not required to submit supporting documentation, you are required to have the information readily available in case of an audit. Do not pay a third party who is not on the list for application assistance. Good news is that youre still able to submit your PPL loan forgiveness application with the instructions below. Award notifications: September 7,2022- January 6, 2023. Applications will have up to 150 points based on the following five elements, each with a maximum of 30 points. Use the tool below to select different beacons to see how the weighting shifts when only one, two, or three beacons are earned. We provide loan solutions that include SBA micro-loans, SBA 504 Loans and the SBA Community Advantage. How this organization adapted to changing conditions caused by COVID-19: When COVID-19 forced LiftFund to send employees home to work virtually, it quickly became apparent that this situation could help build stronger connections amongst our 15-state service region, lifting geographic restraints so team members could support each other remotely. Yes, for financial assistance, please visit www.liftfund.com/loan-offerings. Maximum grant amount is based on reduction in gross sales between 2019 and 2021. Below you will find more details about . Status update April 1, 2016 Kiva has moved this Field Partner to inactive status. Is negative impact on operations due to the pandemic based on gross or net revenue? As a sole proprietor, I am not required by the county or state to file a DBA. (Note that reporting these qualified wages in the payroll costs entered on your loan forgiveness application will affect the amount of qualified wages that can be used to claim the employee retention credit.). We analyze disaggregated data and root causes of race disparities that impact the organization/'s programs, portfolios, and the populations served. Lendio will confirm and validate your business and financial information. Were familiar with the loan terms and application process and small businesses and can provide support. LiftFund strives to have the resiliency, dedication, and drive to succeed that we see in our clients despite the challenges and adversity they face everyday. You can submit a copy of your business lease agreement. We use a vetting process to identify vendors and partners that share our commitment to race equity. Dividing a charity's average fundraising expenses by its average total functional expenses yields this percentage. We don't have any major challenges to collecting feedback. The grants team will reach out to applicants by phone or email if additional documents or clarification is needed. For this reason, they come to LiftFund and readily share highly personal information with our team, such as tax forms, annual revenues, and other business documents as they look to secure capital. No, number of employees will be calculated based on first quarter 2021. No: This charity either does not have a written donor privacy policy in place to protect their contributors' personal information, or the existing policy does not meet our criteria. 2019, 2020, 2021 business tax return. As a sole proprietor, I am not required by the county or state to file a DBA. Part time, full time, and contractors who work for you on a regular basis. As an organization on the front lines of economic response, LiftFund plays an integral role in elevating a broad range of diverse small business owners, including those with little startup wealth and lack of access to commercial credit. 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. If the charity does report a diversion, then we check to see if it complied with the Form 990 instructions by describing what happened and its corrective action. To be eligible for this program, businesses must: Grant funds will not be awarded on a first-come, first-served basis. The Spanish sessions will be held on July 15 and July 20 from 2:00pm 3:00pm. Please check with the charity directly for any questions you may have. How a donor can have themselves removed from a list differs from one charity to the next, but any and all opt-out policies require donors to take specific action to protect their privacy. LiftFund is not new to understanding the needs of small businesses in the wake of a disaster. 3. We calculate the charity's average expenses over its three most recent fiscal years. Since 1994, LiftFund has provided over $409 million in opportunity funding and business education to small business owners and aspiring entrepreneurs. See the metrics below for more information. Since I dont have a 2019 business tax return, what documents do I need to submit to prove negative impact? We believe entrepreneurship is a path to financial and family well being and we create products and resources that close the small business finance gap thousands of small businesses face daily. If my business opened after April 2020, can I apply? Selected recipients will be notified of approval and accept the grant via an emailed Docusign form. We disaggregate data by demographics, including race, in every policy and program measured. The funds must be used for business-related expenses, including payroll, working capital, business rent, inventory, supplies, equipment, and other operating costs. Yes, as long as your business is registered with a DBA. More info. These local agencies will with the application process to help overcome technological or language barriers. However, we encourage you to start your PPP forgiveness process as soon as you are eligible to apply. Who are the people you serve with your mission? Applications will be assessed and scored using the following methodology. LiftFund's PPP loan maximum loan amount is $250,000, set by SBA guidelines. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles. This overall score is calculated from multiple beacon scores, weighted as follows:80% Accountability & Finance, 10% Leadership & Adaptability, 10% Culture & Community. LiftFund is nonprofit community development financial institution with a 27-year track record of elevating underestimated and underserved communities across its 15-state footprint. Headquarters | 2014 S. Hackberry St, San Antonio, Texas 78210, USA, 2021 LiftFund All Rights Reserved | Privacy Policy | Terms of Service, About LiftFundImpactCommunityOur TeamClient Stories, ResourcesBusiness SupportLiftLearnEventsBlog, LoansAm I Ready?Funding OptionsRefer A Client, ChampionsPartnersSupportersClient Marketplace. LiftFund is also offering five webinars to provide the community an overview of the grants program and application process. If additional documents are requested, applicants will have 5 business days to submit. LiftFund is a non-profit organization that helps small businesses who have a hard time . There are three different PPP forgiveness applications: The 3508EZ and the 3508S are shortened versions of the application for borrowers who meet specific requirements. Harris County has created a new $30 Million Small Business Relief Fund to support micro and small businesses recovering from the economic effects of the COVID-19 pandemic. As a sole proprietor, I am not required by the county or state to file a DBA. What do you think? Monday, August 1 at 10:00 AM through Monday, August 22 at 5:00 PM Central Standard Time. How do I know if I qualify for the $10,000 construction impact supplement? LiftFund offers loans between $500 to $250,000 to start ups and established businesses. They should be prepared by an independent accountant with oversight from an audit committee. Can I still apply? Generally, receipts are considered total income plus cost of goods sold. This has not only boosted morale, but it has created a new energy within the departments who are all working together with a better understanding of the impact of each person on the mission of the organization as a whole. Full Credit: The charity's audited financials were prepared by an independent accountant with an audit oversight committee. My business is home based and all of my utilities are in someone elses name. 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. Source: IRS Form 990 (page 7), filing year 2020, Below are some key data points from the Exempt Organization IRS Business Master File (BMF) for this organization. This measure reflects the percent of its total expenses a charity spends on the programs and services it exists to deliver. The program, funded by Bexar County and administered by LiftFund, has dedicated $10,000,000 Million in funding to support nonprofit organizations with grants up to $50,000. Part of our goal in rating the financial performance of charities is to help donors assess the financial capacity and sustainability of a charity. SBA has up to 90 days to review and approve the forgiveness request. You will be asked to submit a current business utility bill as part of the application. Innovations the organization intends to continue permanently after the pandemic: As most of our small business clients are still in the process of adapting to a post-pandemic business climate (i.e., implementing hybrid business models and continuing remote operations), LiftFund will continue to ensure that our training workshops and seminarsare offered virtually and recorded, easily accessible by smartphone, and monthly schedules are shared on our website. Limited to one grant per physical address within Bexar County. San Antonio City Council approved the plan last month, followed by a review and approval of the implementation strategy by the Economic and Workforce Development Committee. Your donation attempt encountered a problem. We are proud to partner with local community organizations collaborating as partners. Can I still apply? Fill form with your details. The grants will range from $15,000 to $35,000 to eligible small, for-profit businesses. Categories: City News, Economic Development, Health, COVID, Grants will be awarded in August. Below you will find more details about this program, including eligibility, documents required, scoring methodology and timeline. The nonprofit organization presents evidence of strategic thinking and goal setting through sharing their most important strategic goals. Conduct business activities categorized as one of these NAICS codes. LiftFund leadership and board members work closely with community leaders at local, state, and federal levels ensuring they understand the needs of small businesses as well as the support communities require where they thrive. Application review: January 30- May 1, 2023. The existence of a privacy policy of any type does not prohibit the charity itself from contacting the donor for informational, educational, or solicitation purposes. Contact Information. Regularly check your application status with pin . Grants will be awarded in August. We will also continue to offer flexible consultation sessions with our Business Advisors on matters ranging from finance, sales, e-commerce, and other topics that will help small businesses successfully adapt to and thrive in a post-pandemic business environment. We believe you deserve a path to success and were here to close the small business finance gap thousands of small businesses face daily. The funds must be used for business-related expenses, including payroll, working capital, business rent, inventory, supplies, equipment, and other operating costs. No, revenue must be less than $500,000 in both 2019 and 2020. Below you will find more details about this program, including eligibility, funding methodology and timeframe. Applications will be assessed and scored based on the five components below. Yes, as long as your business is registered with a DBA and you filed a ScheduleCin 2019 and 2020 for your business. Enter serial and pin found on voucher. Box 839966 We calculate the charity's average expenses over its three most recent fiscal years. We know entrepreneurs, no matter their life story, are dedicated to improving their lives and their familys well being. We know you and your business need support during this time and we are preparing our Paycheck Protection Program that was launched by SBA through the CARES Act. Click here to see if your business is located in an impacted area. SBA PPP Loan Forgiveness Application Form 3508S. More information about the partner organizations can be found here. As do organizations in other sectors, charities must be mindful of their management of total liabilites in relation to their total assets. Goal Type: Grow, expand, scale or increase access to the existing programs and services. Visit Website. Privacy policies are assigned to one of the following categories: Yes: This charity has a written donor privacy policy published on its website, which states unambiguously that (1) it will not share or sell a donor's personal information with anyone else, nor send donor mailings on behalf of other organizations or (2) it will only share or sell personal information once the donor has given the charity specific permission to do so. 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. LiftFund and other local community organizations will help applicants navigate the application process and overcome technological or language barriers. At least 60% of the proceeds are spent on payroll costs. An additional $10,000 construction impact supplement is available for those who qualify. 1. 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 I applied for a Harris County COVID-19 grant last year, do I have to re-apply? If my business is located outside of the City of San Antonio but I serve customers within the city, can I apply? Business Bank statements from first quarter of 2020 plus business bank statements from any other quarter in 2020, A January- August profit and loss statement for 2020 and one for January August 2021. How BBB Processes Complaints and Reviews. How can I prove my address? LiftFund has made. For assistance, please contact 210-207-3924 orSmallBizInfo@sanantonio.govfor more information. Need Assistance with CPS or SAWS Payment Options? We include in a charity's working capital unrestricted and temporarily restricted net assets, and exclude permanently restricted net assets. (for expenses that were incurred or paid during the Covered Period and showing that obligations or services existed prior to February 15, 2020 for the first three listed obligations/services): Business mortgage interest payments: Copy of lender amortization schedule and receipts verifying payments, or lender account statements, Business rent or lease payments: Copy of current lease agreement and receipts or cancelled checks verifying eligible payments, Business utility payments: Copies of invoices and receipts, cancelled checks or account statements, Covered operations expenditures: Copy of invoices, orders or purchase orders paid, and receipts, cancelled checks or account statements verifying eligible payments, Covered property damage costs: Copy of invoices, orders or purchase orders paid, and receipts, cancelled checks or account statements verifying eligible payments, and verification that costs were related to uninsured property damage due to public disturbance vandalism or looting that occurred in 2020, Covered supplier costs: Copy of contracts, orders or purchase orders in effect at any time before the Covered Period (except for perishable goods), and copy of invoices, orders or purchase orders paid, and receipts, cancelled checks or account statements verifying eligible payments, Covered worker protection expenditures: Copy of invoices, orders or purchase orders paid, and receipts, cancelled checks or account statements verifying eligible payments, and verification that expenditures were used to comply with COVID-19 guidance, Complete your loan forgiveness application, sign attestations and completed application, and submit it to, Guidance on the Employee Retention Credit under Section 2301 of the Coronavirus Aid, Relief, and Economic Security Act(PDF), Guidance on the Employee Retention Credit under the CARES Act for the First and Second Calendar Quarters of 2021(PDF). Applicant must be majority owner of business, Current Drivers license or government-issued photo ID. Dividing these net available assets in the most recent year by a charity's average total expenses, yields the working capital ratio. By joining our movement, you say yes to financial inclusion and opportunity for all. Cons. BBB Business Profiles are subject to change at any time. The Profit and Loss statement must be signed and dated by an organization officer substantiating the information. We check the charity's Form 990 reporting to see if it meets this criteria. Technical Assistance: LiftFunds business support team quickly shifted workshops, seminars, and training sessions to virtual platforms to allow small businesses to engage in services from anywhere. As long as the address on the utility bill matches the other documentation provided, that can serve as verification of business location. My business was registered and began operating in January March 2020. At LiftFund, your investments can transform lives and wed be happy to share how you can join our movement with a gift or an investment. Registering with us does not restrict your ability in any way to also apply elsewhere. As reported by charities on their IRS Form 990, this measure reflects what percent of its total budget a charity spends on overhead, administrative staff and associated costs, and organizational meetings. Grant amount will not exceed 2019 gross sales. Am I able to apply for this program and the City of Houston's Harvey Economic Development Program (HEDP)? Applications with the highest score based on the methodology below will be considered and funded first. . The amounts do not include nontaxable benefits, deferred compensation, or other amounts not reported on Form W-2. We're here to support determined entrepreneurs like you with loans, tools and resources to grow your business. If my business is located outside of Harris County but I serve customers within the county, can I apply? Login. DBA/Assumed name certificate filed with Bexar County or certificate of formation/incorporation filed with TX Secretary of State. If I received a PPP or EIDL loan can my business still qualify for the program? The maximum score is 115. For more information about LiftFund, visit, LiftFund has deep roots in Harris County and is a champion for our small business community. *In Canada, trademark(s) of the International Association of Better Business Bureaus, used under License. These grants will provide relief to those struggling financially to help our economy recover and emerge stronger than before. Collateral and Personal Guarantee are not required. Tuesday, January 3 at 10:00 AM through Friday, January 20 at 5:00 PM Central Standard Time. Determines how long a charity could sustain its level of spending using its net available assets, or working capital, as reported on its most recently filed Form 990. schneider funeral home mt vernon in obituaries what happened to buster edwards daughter. Here's what you will need as proof of income: W-2 forms. Eligible businesses or nonprofits can apply for the grants by going to. This compensation data includes salary, cash bonuses and expense accounts and is displayed exactly how it is reported to the IRS. Can I still apply? 2. . The nonprofit organization presents evidence of strategic thinking through articulating the organization's mission. Small businesses are the backbone of our economy and will be critical to our recovery from the economic effects of COVID-19, said District 3 Councilmember and Chair of the Economic and Workforce Development Committee Rebecca J. Viagran. I had applied for the S.O.A.R loan through Liftfund with application number XXXXXXXXXX in October 2021. If we can answer any questions, please dont hesitate to reach out anytime toliftfundpppteam@liftfund.comor call800.920.0585. We calculate the charity's average expenses and average contributions over its three most recent fiscal years. The Harris Small Business Relief Fund awards will not be made on a first-come, first-served basis. We compute the average annual growth of program expenses using the following formula: [(Yn/Y0)(1/n)]-1, where Y0 is a charity's program expenses in the first year of the interval analyzed, Yn is the charity's program expenses in the most recent year, and n is the interval of years passed between Y0 and Yn. Quarterly: receipts for 2019 quarter and receipts for same quarter in 2020; For business not operating in 2019, receipts for first quarter of 2020 and receipts for third or fourth quarter for comparison; For applicants selecting annual comparison, provide 2019 tax returns and 2020 tax returns. LiftFund's began in San Antonio, Texas in 1994 in conjunction with the micro-lending organization Accin International that offers micro-loans in Latin America. IRS Non Profit Status Letter. Despite the unprecedented nature of the last two years, LiftFunds audit continues to show no excessive liabilities and we continue to focus on keeping our debt-to-income ratio balanced. 2019, 2020, and 2021 business tax returns. Businesses can To check if your business address is located within the city, click, Not be in the following categories: non-profits, gambling/gaming businesses; franchisors; sexually oriented businesses; payday & auto loan providers; liquor stores and businesses in which a City employee or officer has a financial interest, as defined in Sec. Eligible applications with the highest scores will be reviewed and awarded first, followed by applications with lower scores. 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. Paycheck Protection Program Interest Form. In some cases, these amounts may include compensation from related organizations. No, your business must be physically located in the city. Current CEO and Board Chair can be found in the Leadership & Adaptability report below. The Form must also be accompanied by the 990N attestation form. Operational is defined as a positive amount of gross receipts or sales on the 2019 tax return (Line 1 of Schedule C or Line 1a of 1120, 1120S or 1065). Grant recipients must keep detailed receipts for expenditure of grant funds. The 3508EZ and the 3508S are shortened versions of the application for borrowers who meet specific requirements. 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. For more information about LiftFund, please call 888-215-2373 or email info@liftfund.com. Learn more about our criteria and methodology. This Accountability & Finance score represents IRS Form 990 data up until FY 2020, which is the most recent Form 990 currently available to us. As a sole proprietor, do I submit my full 1040 personal tax return or just my Schedule C? (BMF affiliation code: 3). Heres what we know about this next round of PPP: Well be providing further updates as we have them in the next couple of weeks including the launch of the new PPP round. Limited to one per each physical address within the City of San Antonio; Only one grant will be awarded per business or non-profit with more than one location; Grant applicants are only eligible to receive one grant award. The nonprofit has an opportunity to tell the story of how the organization adapted to tremendous external changes in the last year. Businesses must not have any outstanding tax liabilities. (Less). I dont receive a business utility bill. Mr. Isaac Elizondo, Regional Vice President. The City of San Antonio begins Cool Pavement Pilot Program, REMINDER: Changes to City Brush Drop-Off Center, Celebrate Fiesta Responsibly and Sustainably, Celebrate National Library Week with San Antonio Public Library. If you're not sure what something means regarding the status of your application, contact TAC at TrademarkAssistanceCenter@uspto.gov or 1-800-786-9199. If you file a Schedule C, use Line 1. I use a PO Box on my business registration and/or my tax return. If SBA undertakes a review of your loan, your lender will notify you of the review and the SBA loan review decision. Applicants will be able to save their progress during the application period. If your business was registered and began operating in January March 2020, you do not need to provide a 2019 tax return. LiftFund is currently in a process improvement project in which a contractor was brought in to evaluate our current programs. LiftFund was founded in 1994 with a $50,000 grant from the Levi Strauss Foundation and $125,000 in a loan pool of four banks: Frost Bank, Broadway Bank, Chase Bank and Wells Fargo. Can a third party, such as a CPA, submit an application on behalf of a business owner? What type of employees do you need documentation for? I use a PO Box on my business registration and/or my tax return. Applications with the highest scores will be reviewed, approved, notified and funded first (if eligible). Small businesses are vital to our local economy, said Janie Barrera, President & CEO of LiftFund. LiftFund's mission 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 micro lending industry. San Antonio, TX 78205, Mailing Address Read More . You will be asked to submit a current business utility bill as part of the application. Business utility bill (water, gas, electric). All recipients will be required to complete follow-up surveys in June 2023, June 2024 and June 2025. advisory committees. We calculate the charity's average expenses over its three most recent fiscal years. ACCEPTING APPLICATIONS. Since 1994, LiftFund has provided over $409 million in opportunity funding and business education to small business owners and aspiring entrepreneurs. How can I prove my address? Total Revenue and Expenses - Data Available, IRS Published Data (Business Master File) - Data Available, Data Sources (IRS Forms 990) - Data Available, How to Donate Food and Prevent Food Waste. The nonprofit provides evidence of investment in leadership development. Click here to view a pdf copy of the application. How will you verify my physical business address? The message will come from a LiftFund email address. Second Draw PPP Loans can be used to help fund payroll costs, including benefits. Ebony Harris has a special way with children its a gift. Your lender is responsible for notifying you of the forgiveness amount paid by SBA and the date on which your first payment will be due, if applicable. The City of Houstons program,Harvey Economic Development Program (HEDP), provides support to impacted small businesses and communities through small business loans and grants. If you file an 1120-S, use Line 1. Business located in areas affected by these construction projects may be eligible for an additional $10,000. Submit and print-out application summary. dresdner kleinwort capital,

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