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LiftFund pitches $50,000 interest buy‑down to San Juan EDC to expand 0% lending
Summary
LiftFund representative Martina Lucas asked the San Juan EDC to consider a $50,000 interest buy‑down to leverage roughly $200,000 in loans and deliver 0% financing to local businesses; LiftFund said the program would use its underwriting, require local tax compliance, and be delivered via an MOU and formal proposal.
Martina Lucas, a representative of LiftFund, told the San Juan Economic Development Corporation that the nonprofit lender is proposing a $50,000 interest buy‑down to allow San Juan small businesses to access 0% interest loans.
Lucas said the $50,000 subsidy would effectively leverage about $200,000 in lending and could help “seven to eight small businesses” with average loans of $25,000–$30,000. She described LiftFund’s underwriting and vetting…
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