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Small Business

LiftFund benefits from $1.1 million bank contribution

LiftFund, the nation’s largest microlender, has received a $100,000 grant and a $1 million investment from BancorpSouth Inc.

San Antonio-based LiftFund will use the grant money to support its mission of helping entrepreneurs in Alabama, Arkansas, Florida, Louisiana, Mississippi, Missouri, Tennessee and Texas with business counseling to grow their business. LiftFund will use the $1 million to support small-business lending efforts.

“This is another example of how we work closely with banks to help small business owners and entrepreneurs achieve success. BancorpSouth’s generosity helps us carry out our mission to fund loans, provide education and build thriving communities,” LiftFund President and CEO Janie Barrera said in a statement.

BancorpSouth President and Chief Operating Officer Chris Bagley said he is pleased to work with LiftFund to help small business owners and entrepreneurs across its 8-state market area.

“LiftFund, working with SBA and other small business lenders such as BancorpSouth, provides valuable assistance to small business owners and entrepreneurs with limited access to capital,” he said.

BancorpSouth will also coordinate with LiftFund to provide volunteer opportunities to LiftFund clients. BancorpSouth employees will provide financial education to LiftFund clients and develop a new referral program for small business owners.

BancorpSouth is a financial holding company based in Tupelo, Mississippi, with 286 banking, mortgage and insurance locations and $13.8 billion in assets.

November 17, 2015


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