LiftFund, a leading nonprofit small business lender, has received the 2025 Outstanding CDFI Award from the Opportunity Finance Network (OFN) for its leadership in rebuilding local economies after disasters. The award was presented on October 22 in Washington, D.C., during OFN’s annual gathering of financial institutions, impact investors, and economic development leaders.
“When a small business closes after a disaster, the effects ripple through communities,” said Amy Hereford, LiftFund’s President and CEO. “Fast, responsible recovery capital keeps businesses operating, protects jobs, and preserves community stability.”
LiftFund stands among a select group of mission-driven lenders that have deployed $1.5 billion in capital to entrepreneurs nationwide. Of that total, $222 million in disaster recovery funding has supported 11,000 small business owners, helping them recover from hurricanes, floods, wildfires, and economic disruptions. These efforts have sustained 47,000 jobs across the country.
National data show that small businesses face closure within two weeks if they lack capital. To close this survival gap, LiftFund launched the National Disaster Recovery Fund—a new initiative designed for speed, continuity, and community resilience. This effort unites banks, philanthropic partners, and corporate donors to bridge the critical gap between disaster and traditional aid.
“Small businesses are vital to community recovery,” said Kimelyn Harris, Head of Small Business Growth Philanthropy at Wells Fargo. “LiftFund’s rapid-response model accelerates economic recovery and strengthens local stability.”
Wells Fargo serves as an early funder for disaster recovery, catalyzing additional support from corporate and philanthropic partners. Since 1994, the company has provided nearly $15 million to LiftFund to strengthen disaster recovery and small business lending.
LiftFund’s recovery model emphasizes local partnerships, streamlined underwriting, and on-the-ground outreach to deliver funds quickly and responsibly. The organization maintains rigorous verification and fraud prevention safeguards to ensure responsible deployment. Most recently, LiftFund mobilized $5 million to support small businesses affected by the Texas Hill Country floods. This is helping them reopen, retain workers, and restore vital community services.
“In the aftermath of the Texas Hill Country floods, we saw firsthand the power of CDFIs,” said Jaime Wesolowski, President and CEO of Methodist Healthcare Ministries. “Our $1 million partnership with LiftFund ensured immediate relief and long-term resilience for local businesses.”
A video highlighting the recovery efforts of Hill Country small business owners is available here:
https://youtu.be/9RWdWNP6R-E
