Goldman Sachs and the LiftFund are helping Texas provide $50 million in loans to small businesses to help during the COVID-19 pandemic, Gov. Greg Abbott announced at a press conference on April 13.
Abbott said that $25 million of these loans come from a partnership between Goldman Sachs and LiftFund.
At the media briefing, the governor was joined by Janie Barrera, president and CEO of LiftFund. LiftFund is an organization with public and private partnerships to assist small businesses. John Waldron, president and COO of investment bank Goldman Sachs, also spoke at the press conference.
Waldron said the funds will be distributed in Texas through the payroll protection program. Waldron also said the loans are designed to be partially, or entirely, forgiven if specific criteria are met.
According to Barrera, applications for the program will be going live on April 13 at www.liftfund.com.
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