City of Laredo, LiftFund Creates $1 Million Fund to Provide 0% Interest Loans to Support Small Businesses

As we begin a new year, many small businesses continue to deal with the impact and challenges of the ongoing COVID-19 pandemic. With that in mind, LiftFund is thrilled to announce a new partnership with the City of Laredo to provide $1 million in small business loans to Laredo business owners and aspiring entrepreneurs. The program will support small businesses with loans of up to $50,000 at 0% interest to support recovery, business growth or start-up costs.

“The City of Laredo has worked hard to build strategic partnerships that help Laredo small businesses grow and succeed,” said Laredo Mayor Pete Saenz. “Access to capital is critical to the success of small businesses. The City of Laredo has always had a strong interest in small business support programs because small businesses play an important role in stimulating economic activity and creating jobs. LiftFund has been a great partner for the City in providing support to small business owners. »

The federal and local government, along with LiftFund, have been working hard to get more help into the hands of small business owners, especially as they continue to face heightened challenges due to the COVID pandemic. -19 in progress. Funding and resources are imperative as business owners continue to pivot and stabilize their businesses.

“These have been difficult times for small businesses, with many experiencing loss of revenue, loss of staff, and even intermittent or ongoing closures,” said Sara Saldaña, executive vice president of loans at LiftFund. “We are proud to deepen our partnership with the City of Laredo with this new zero interest loan fund to support more small businesses in our community. With this new program, we are ready to continue supporting businesses to stay open, retain staff and develop sustained growth in our community.

Small business owners and aspiring entrepreneurs whose businesses are located in the city of Laredo can apply for this loan program. Funds can be used for equipment and machinery, payroll, start-up costs, and any other business-related expenses. For more information on the City of Laredo’s 0% interest loan program, go to www.LiftFund.com/LaredoLoans.


About LiftFund:

LiftFund is a non-profit small business lender that transforms lives by opening doors and leveling the financial playing field in entrepreneurship. Established in 1994, LiftFund provides responsible capital and business education to small business owners and aspiring entrepreneurs. LiftFund has supported small business owners in Laredo with over $16.7 million in small business loans. Since its inception, LiftFund has issued more than 24,800 loans totaling more than $409.5 million in its 15 states, which include: Alabama, Arkansas, California, Florida, Georgia, Kentucky, Louisiana, Mississippi, Missouri, New Mexico, Oklahoma and South Carolina. , Tennessee, New York and Texas.

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