Shared by Vicki Pitluk, City of Rockport | $7 Million Initiative Program for small businesses affected by Hurricane Harvey

LiftFund to Distribute Funds as Small Business Recovery Loans
January 25, 2018 11:00 AM ET

HOUSTON--(BUSINESS WIRE)--Strategic partners are powerfully joining together to place small businesses along the Texas Gulf Coast on the path to recovery following the devastation of Hurricane Harvey. Goldman Sachs, through its 10,000 Small Businesses program and the Rebuild Texas fund are providing $7 million to LiftFund to assist Texas small business owners in the recovery and rebuilding of their operations following the catastrophic storm. Rebuild Texas is a collaborative project of the Michael & Susan Dell Foundation and the Office of the Texas Governor’s OneStar Foundation. LiftFund is a nonprofit organization that provides small business loans to those who do not have access to capital from typical lending sources.

The Texas Small Business Rebuild Initiative represents a $7 million investment and grant by the partners in Texas small businesses which are vital to strengthening the state’s economy through growth and job creation. LiftFund is overseeing the distribution of the funds and is working to award loans to small businesses in the areas hit hardest by Harvey that saw their operations and livelihoods greatly impacted and forever changed. LiftFund’s small business recovery loans will help Texas small businesses regain their footing, repair property damage and make up for other substantial losses.

“Texas would not be where it is today without our small businesses, which is why it is so crucial that we help restore what has been lost due to Hurricane Harvey,” said Governor Abbott. “Working together, we will rebuild our small businesses, restore pride in our communities, and get Texas back on track. I look forward to the success of this new initiative, and I thank all of our partners for their commitment to helping small businesses in Texas as we work to rebuild stronger than before.

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