Small Business Lending in New York | New Jersey

As in other regions nationwide, New York City and New Jersey small business owners and nonprofit organizations experienced the tightening of credit as traditional lenders raised the bar for loan applicants. When businesses can’t secure financing, growth grinds to a halt—and local neighborhoods and communities lose jobs and services.

TruFund Financial fills this critical need for small businesses trying to access credit. The financing we offer allows businesses and nonprofit organizations to continue to invest and sometimes grow, even during the economic downturn. These entrepreneurs are opening new spaces and hiring workers, contributing to the revitalization of their local economies.

Our loans, which target low-income communities, range from $50,000 to $350,000. Since 2005, TruFund Financial has helped more than 2,000 small business owners receive loans totaling over $170 million. We have also helped create and retain more than 12,000 jobs and provided $97.1 million to underserved populations.   

Results in the community

TruFund provides affordable and responsible capital to small businesses and nonprofit organizations in New York City, Nassau and Suffolk counties, and the regions of Mid-Hudson, Western New York, and The Finger Lakes. We also provide funding resources to undercapitalized areas in New Jersey. Our loan products help clients to sustain operations as well as invest in efficiency, resilience, and growth so they can improve incomes, create jobs, and build wealth in historically disadvantaged communities.

To help small businesses and nonprofits achieve stability and recover from the COVID-19 pandemic, TruFund has also provided federal, state, and city emergency loan programs.

Our loans have made a big difference for businesses such as Big Apple Performing Arts (BAPA), the umbrella organization for the New York City Gay Men’s Chorus, and other groups. BAPA had experienced several years of operating losses and was struggling to find a source of working capital during a challenging financial period. TruFund Financial Services stepped in and provided an affordable loan to BAPA which helped the group achieve financial stability.

“Banks and other conventional sources of capital were not willing to provide us with the loan that we needed, but TruFund Financial Services was there for us,” said David Edelman, Executive Director of BAPA. “Their knowledge of nonprofit arts organizations, their assistance in helping us develop a stabilization plan, and their below-market rate loan was a true blessing. TruFund’s assistance gave us the breathing room we needed and helped position us for future growth.”

TruFund Financial Services, Inc. provides flexible financing with competitive rates directly to small businesses and nonprofit organizations in targeted neighborhoods across New York City and New Jersey.

Ready to apply?

For more information about our New York/New Jersey loan programs and funding resources, please contact our local office.