HOUSTON, Oct. 6, 2017 – Small businesses make up over eighty percent of a local economy’s vibrancy. The number of businesses impacted by the hurricanes that have hit the U.S. coasts is still unknown, but the work to rebuild communities is immediate.
LiftFund, a non-profit business lender, with the generous support of JPMorgan Chase, Groupon and Goldman Sachs 10,000 Small Businesses has established a relief fund to support small business affected by Hurricanes Harvey and Irma.
With an initial $1.3 million in capital, including $1 million from JPMorgan Chase’s Small Business Forward initiative, LiftFund’s hurricane relief loan fund will help small businesses along the Texas Gulf Coast and Florida rebuild after the devastation caused by the September hurricanes.
LiftFund’s hurricane relief loan fund has reached $1.3 million in capital to provide a combination of products and support services, including low to zero interest loans to small business owners affected by Hurricanes Harvey and Irma.
“For Houston to fully recover, our small businesses must remain strong engines of economic opportunity,” said Nataly Marks, Managing Director for JPMorgan Chase in Houston. “JPMorgan Chase is proud to stand with LiftFund – an experienced microlender with a strong track record – and all the small businesses seeking to rebuild after Harvey.”
“It’s critical that when we rebuild our communities, we rebuild for homes, for corporations, and for small businesses. With our partners, we are here to support small businesses in the wake of the hurricanes. We know timing is of the essence, and we are ready to help them rebuild and reopen with our hurricane relief loan fund,” said Janie Barrera, LiftFund President and CEO.
“Small businesses are the backbone of the communities they serve, and many absorbed significant damage from the recent hurricanes,” said Groupon CEO Rich Williams. “The local impact of shuttered businesses will be felt long after the initial disaster. Helping businesses with much-needed access to capital is a key way we can help these communities along the road to recovery.”
“We’re proud to partner with LiftFund, a longstanding lending partner in the 10,000 Small Businesses program, to ensure that small business owners affected by the storm receive both immediate help as well as longer term support that will help them recover and rebuild,” said Margaret Anadu, Goldman Sachs Managing Director. “This grant will supplement Goldman Sachs’ overall response to these storms including over $1 million in donations as well as employee volunteer initiatives benefiting a range of nonprofit organizations in Houston and Florida.”
LiftFund has historically supported small businesses through similar catastrophes like Hurricanes Katrina (2005), Ike (2008), and Sandy (2012), developing specific products and services to alleviate the needs of impacted small businesses.
Small business owners in Houston, along the Texas Gulf Coast and Florida can visit www.liftfund.com/hurricane-relief-resources to learn about products and support services specifically tied to LiftFund’s hurricane relief efforts. Or, impacted business owners may call LiftFund at (888) 215-2373 or inquire by email at [email protected].
“LiftFund and our corporate partners stand strong with the small businesses and our special assistance programs aim to help these business owners get back on their feet,” said Barrera.
To learn more about LiftFund’s clients and keep up with the rebuilding process in their communities, please visit the blog post: Communities Rebuild after Harvey.