Liftfund, INC. - FY23 congressional community project funding

Liftfund Inc., doing business as Accion, will provide small business financing and support services to entrepreneurs in Texas and New Mexico under a $1,000,000 Project Grant award from the Small Business Administration (SBA) Office of the Chief Operating Officer. The grant falls under the SBA's Congressional Grants program (CFDA #59.059), which provides funding for small business development and entrepreneurship initiatives.

Specifically, Accion will use the grant to issue microloans of under $50,000 to startups and existing small businesses. Accion will pair these loans with training, counseling, and other services for borrowers. As a nonprofit community development financial institution, Accion focuses on serving underserved populations including minorities, women, veterans, and low-income entrepreneurs. The one-year grant period will allow Accion to expand access to capital and business support services for diverse small business owners in Texas and New Mexico from June 1, 2023 to May 31, 2024.