LiftFund, a San Antonio nonprofit organization that extends various resources to local small-business owners, will use $70,000 in federal and private funding to streamline its loan application platform to make it easier for small-business owners to request and receive funding.

The gist

According to a June 5 news release, the U.S. Department of Commerce Minority Business Development Agency and the National Association for Latino Community Asset Builders awarded $70,000 to LiftFund to more effectively assist eligible local small-business owners.

What they’re saying

LiftFund President and CEO Laurie Vignaud said such advancements will positively affect small businesses served by LiftFund, providing them with needed tools to grow and thrive in a competitive market.

Vignaud also said LiftFund's mission aligns with the larger goals of the MBDA and NALCAB to help support economic expansion and innovation inside historically marginalized communities through ensuring equitable access to financial resources and backing for underserved entrepreneurs.

"We believe that technology plays a crucial role in leveling the playing field for small businesses that lack access to capital from traditional commercial sources,” Vignaud said in a statement. "By modernizing our IT infrastructure, we are not only improving our service delivery but also empowering our clients to achieve greater success."