TRUFUND FINANCIAL SERVICES INC
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Mission Statement
TruFund's mission is to expand access to capital, resources, and business advisory services for undercapitalized individuals and communities. By fostering economic resilience and strengthening entrepreneurial ecosystems, we help small businesses grow, create jobs, and build generational wealth. Through strategic partnerships and innovative financial solutions, we ensure that all entrepreneurs have the tools and support necessary to succeed and contribute to sustainable, thriving communities.
About This Cause
As a nonprofit Community Development Financial Institution (CDFI) headquartered in NYC serving New York, New Jersey, Louisiana, Texas, Alabama, and Georgia, TruFund builds financial bridges with the mission to increase economic development in distressed communities. Through lending and investment, TruFund operates through four core program areas: (1) training and technical assistance (TA), (2) lending to small business owners and nonprofits, (3) real estate development, and (4) community climate finance. Established to address the critical need for economic support for small businesses in lower-Manhattan affected by the 9/11 terrorist attacks, at its core, TruFund is responsive, resilient, and adaptive. Since 2001, TruFund has served as an engine for economic activity by offering a continuum of capital that fills gaps for viable yet often overlooked small businesses. As of December 2024, TruFund has disbursed $296.3 million in financing to 3,939 small businesses and nonprofit organizations, which in turn has contributed to the creation and/or retention of over 25,292 jobs. Of these loans, about 50% have been to businesses operating in low-to-moderate (LMI) communities. Further, in response to the pandemic, we augmented our core lending by participating in SBA PPP and several other recovery lending programs to more than triple our annual lending of $7 million and 54 loans (2017-19) to $24 million in 2020 to over 1,200 borrowers, including $14 million in SBA PPP lending, and $57 million in 2021 to over 2,000 borrowers, including $37 million for PPP loans. While the PPP program and other pandemic relief lending has ended, average annual lending (2022-24) is now $23 million and 151 loans.