LiftFund

Texas Launches $50 Million Loan Program, Which Could Help Restaurants | Eater Austin

"A San Antonio–based nonprofit acting as the intermediary for $25 million of a $50 million small-business relief pool provided by Goldman Sachs; it will select and distribute funds to local businesses through its application process while the remainder is funneled through other community development financial institutions. Loans are issued under the SBA’s Paycheck Protection Program and Goldman’s 10,000 Small Business program; after eight weeks participating businesses must document eligible use of funds (payroll, rent, utilities) for forgiveness, at which point the SBA reimburses the nonprofit and it repays Goldman. Applications for loans up to $250,000 were being accepted on the nonprofit’s website through June 30." - Nadia Chaudhury