By Edmond Ortiz
San Antonio-based nonprofit LiftFund recently received an award that goes to organizations that help to rebuild local economies after a disaster and economic disruption.
What happened
LiftFund was presented with the 2025 Outstanding CDFI (Community Development Financial Institutions) Award on Oct. 22 during a gathering of financial institutions, impact investors, and economic development leaders convened by Opportunity Finance Network in Washington, D.C.
LiftFund is among a small group of small business lenders nationwide to provide $1.5 billion in capital to entrepreneurs, according to a press release. Out of that amount, $222 million in disaster recovery money has helped 11,000 business owners to recover and rebuild from hurricanes, wildfires, floods, and economic disruptions.
The release stated that nearly 40% of small businesses come close to permanently closing if they do not receive capital within two weeks of the passage of a disaster or some other major community disruption.
LiftFund officials are developing a National Disaster Recovery Fund to help shrink the two-week survival gap that many small businesses face after disasters, according to the release. The new initiative will include partners in banking, philanthropy, and corporate resilience.
LiftFund officials said their recovery model mixes local partnerships, streamlined underwriting, and field-based outreach to more effectively impact businesses quickly, with an eye on verification, fraud prevention, and responsible deployment of monies.
The nonprofit is continuing efforts to support Texas Hill Country small businesses affected by the deadly July 4 floods, having so far provided $5 million to help local merchants reopen or stay open, keep employees, and offer essential community services.
What they are saying
Amy Hereford, LiftFund’s president and CEO, said when a small business closes in the aftermath of a disaster, it produces a ripple effect where laid-off workers lose income, local suppliers lose revenue, and whole towns and commercial corridors lose economic momentum.
“Fast, responsible recovery capital keeps small businesses operating and protects the economic survival of communities, keeping food on the table, children in schools and resources available to residents,” Hereford said in a statement.
“Small businesses are central to community resilience, and timely access to capital is essential in disaster recovery,” said Kimelyn Harris, head of Small Business Growth Philanthropy at Wells Fargo. “LiftFund has worked with Wells Fargo for many years to strengthen the small business community and remove barriers to capital and expertise. LiftFund’s rapid-response model helps local economies recover faster.”
Wells Fargo is a first funder for disaster recovery, catalyzing support from a variety of other corporate and philanthropic organizations. Since 1994, they have provided nearly $15 million to LiftFund for disaster recovery and community lending.
Jaime Wesolowski, president and CEO of Methodist Healthcare Ministries, said CDFIs such as LiftFund have often demonstrated their strength in supporting immediate disaster recovery efforts and bolstering a region’s economic resilience.
“Methodist Healthcare Ministries was honored to provide $1 million in partnership with LiftFund through their Texas Hill Country Disaster Recovery Initiative to provide immediate relief—and ensure small businesses had the support they need to rebuild stronger, more vibrant communities,” Wesolowski said in a statement.
