Bank of America Commits Over $1M to Texas Flood Recovery

Bank of America has committed more than $1 million in new flood recovery funding across Central and South Texas, bringing its regional support to $3 million. The package includes $1 million for LiftFund and a $50,000 grant to the American Red Cross. Of LiftFund’s allocation, $800,000 will be deployed as capital through its Small Business Disaster Recovery & Resilience Fund, while $200,000 will cover staffing, recovery advising, outreach, compliance, reporting and program administration. The funding follows consecutive years of severe flooding, including the July 2026 event.

Capital for Affected Businesses

The LiftFund funding is intended to help eligible small businesses in select Texas counties declared disaster areas after the July 2026 flooding. Support is aimed at helping small businesses stabilize operations, preserve jobs and rebuild.

Bank of America said its funding has enabled LiftFund to support more than 500 small businesses affected by flooding. LiftFund has already mobilized recovery work across the region and is working directly with businesses seeking capital and recovery support.

Ventura Perez, President of Bank of America San Antonio, said:

“Small businesses are at the heart of the Texas Hill Country, creating jobs, supporting local economies, and bringing communities together. Through our partnership with LiftFund, we are helping businesses access the capital and resources they need to stabilize operations, preserve local jobs and avoid permanent closures. Together, these efforts support the immediate response while helping to create a powerful ripple effect of recovery that can carry these communities through the long term.”

Recovery Work Continues

Six Inch Nails Construction Services, a locally owned general contractor in Kerrville, accessed LiftFund disaster recovery financing after the 2025 floods to keep its crews operational. The company is using those resources to repair water-damaged homes and help neighbors rebuild.

The new commitment adds to Bank of America’s $2 million allocation following the 2025 floods. Alongside the funding for LiftFund, the $50,000 American Red Cross grant is intended to meet immediate needs among displaced individuals and families.

Amy Hereford, president and CEO of LiftFund, said:

“Bank of America's investment comes at a critical time for small businesses working to recover and rebuild. In the weeks following a disaster, businesses often need flexible capital to stabilize operations, retain employees, replace essential assets, and reopen before temporary setbacks become permanent closures. Bank of America's partnership recognizes that recovery doesn't end when the floodwaters recede, and we're grateful for their investment in the long-term strength of these businesses and the communities they serve.”

Regional Support Reaches $3 Million

The latest funding directs most of the new support toward business recovery, pairing capital with the operating capacity required to distribute assistance to affected businesses. It extends Bank of America and LiftFund’s partnership as businesses assess damage from a second flood and seek to preserve operations and jobs.