Disaster Recovery & Resiliency Programs
Since 2005, TruFund has become the non-profit CDFI of choice for entrepreneurs of color, providing essential capital and business support at critical times of need.
From offices in Alabama, Louisiana, New York, and Texas, TruFund has disbursed $150+ million in financing to more than 1,500 small businesses and non-profits, 100% of which could not receive the loan from a conventional lender. In tandem with our lending, we offer robust group and individual business advisory services, which helps small businesses create plans, mature operations, and address common barriers to capital, such as lower credit scores, inconsistent profitability, or substandard recordkeeping. In the past 3 years alone, TruFund has served 9,000+ business advisory service participants in group and individual trainings. Across all products and programs, TruFund’s clients are 92% low- or moderate-income, 81% African American, 8% Hispanic, and 24% women, and 54% of businesses were located in low-income areas.
A substantial number of disaster-affected businesses never recover; more than 40% never reopen after a natural disaster, according to the Federal Emergency Management Agency (FEMA). For the remaining 60% of businesses that do reopen, less than one third remain in operation after two years.
TruFund has operated multiple successful small business disaster recover programs over the past 16 years:
| New York: 9/11 |
450 Loans totaling over $24,000,000 800 Grants totaling $8,000,000 |
| Louisiana: Louisiana Hurricanes |
Issued over $19,000,000 in loans and relief grants to 1068 Small Businesses |
| New York: NW Queens Power Outage |
201 Loans totaling $1,500,000 |
| New York: Grand Central Explosion |
74 Loans totaling $583,500 |
| New York: Hurricane Sandy |
4 Loans totaling $775,000 |
| Louisiana: Restore Louisiana Small Business Loan Program |
34 loans totaling $4.2 million |
TruFund Disaster Relief Headquarters: 935 Gravier Street, Suite 1120, New Orleans, LA 70112, 504.293.5550
View PPP Impact and Disaster Report >
“The PPP loan secured through TruFund allowed our agency to maintain operations during the COVID-19 pandemic. It came at a time when committed public funds were unexpectedly withdrawn and we were facing the possibility of staff reductions and service cuts. With our secured PPP loan, we have been able to stay fully staffed and continue to provide a full roster of services to our students.”
—Robert Taylor
Executive Director, Youth Action Youth Build
Harlem, New York
