Accion Texas has changed its name to LiftFund in order to reflect the company’s growth and new reach. In 1994, the company made loans of around $25,000 to small businesses in Texas. Now, the company makes loans up to $250,000 and works with the Small Business Administration to make loans up to $5.5 million. It has also expanded its reach to other states, including Alabama, Arkansas, Kentucky, Louisiana, Mississippi, Missouri and Tennessee.
The name change also reflects the company’s mission to help small businesses gain access to capital. Their tag line “Dream it. Fund it.” is intended to let small business owners know that they don’t have to give up on a dream because they’ve been denied traditional funds. LiftFund’s growth indicates the potential success of alternative lending and shows that there are multiple ways to gain access to capital. LiftFund joins the likes of the popular alternative lenders Kiva Zip, Lendio, Kabbage, and On Deck, who help small business owners get the money they need faster than traditional lenders can provide it.
To learn more about LiftFund, watch this video, and be on the lookout for the new website launching Jan. 30.
Photo Credit: Accion Texas