The city of San Antonio, in partnership with the nonprofit organization LiftFund, is providing 0% interest rate loans for small-business owners.

The gist

The Zero Percent Interest Rate Loan Program offers flexible small-business loans of $500 to $100,000 at 0% interest, and is designed for small-business owners and aspiring entrepreneurs who are either based in San Antonio or intend to relocate to the city. Businesses intending to hire at least one full-time position in the next 12 months are also able to apply.

Alma Valdez Brown, LiftFund senior business development officer, said the loans are for business owners who do not have access to loans and credit through commercial sources like a bank.

Caitlin Cowart, San Antonio economic development manager for small business, said the City Council has earmarked $2 million over the next two years for 0% interest loan buydown, and Wells Fargo has supplemented the program with matching funds.


“We know that access to capital is one of the greatest needs for small-business owners,” Cowart said.

Funds may be used for:
  • Business growth and expansion
  • Startup expenses
  • Equipment and machinery
  • Inventory
  • Payroll
  • Working capital for business-related expenses
Individuals who have received a 0% interest loan in the last two years are not eligible.

Zooming in

As one of the largest microlenders in the U.S., LiftFund has specific criteria for applicants to be able qualify for the program, according to city documents.


Eligibility criteria include:
  • A personal credit score check to measure reliability
  • The ability to pay back the loan, which will be measured through financial information, such as bank statements and tax returns
  • Details on what has been invested or what will be invested into the company
  • Collateral of comparable value to the loan, such as equipment and vehicles with clear titles
  • The ability to explain what the loan will be used for and applicant experience in the field
All applicants must provide the last three months of bank statements. Additionally, those applying for $50,000 and above must provide a tax return.

Though LiftFund is more flexible than a bank or credit union with credit criteria, applicants must be able to afford monthly payments, Valdez Brown said.

Next steps

Applicants can apply for the program online and must be ready to provide documentation based on the loan amount.


Loans will be given on a first-come, first-served basis.