TruFund Disaster Brief

Disasters acutely hurt small businesses. According to the Federal Emergency Management Agency (FEMA), following a disaster, 40 percent of impacted small businesses never reopen, and another 25 percent fail within one year. Small businesses can be sidelined by major disasters such as hurricanes, wildfires, or a pandemic, yet they also are harmed by more common, smaller-scale disasters: a burst pipe, a temporary loss of power, or the business owner falling ill.

TruFund Financial is a leader in helping small businesses prepare for and recover from disasters. TruFund’s theory of change is that minority-owned small businesses can survive and thrive in the face of disasters of all sizes through robust, thoughtful business advisory services and affordable, accessible, timely capital.

TruFund’s Disaster Recovery and Resiliency Business Unit addresses the needs of vulnerable small businesses throughout all phases of disaster—from pre-disaster preparation, building resiliency and creating plans, to long-term post-disaster recovery, including strengthening business operations.

TruFund has provided $55 million in grants and loans to more than 2,600 small businesses for disaster recovery and resiliency. We also have served 2,400 participants with our disaster business advisory programming, which helps businesses assess their risk factors, create disaster plans, and respond effectively when disaster strikes.

As government programs often move slowly, TruFund’s rapid deployment of both capital and business advisory services is essential in supporting vulnerable businesses. As a result of TruFund, the small businesses we serve are more prepared, more adaptable, and more resilient.