FOR IMMEDIATE RELEASE
TruFund Financial Services Expands TruAccess Program to Strengthen Small Business Participation in NYC’s Supply Chain
New York, NY - March 12, 2025 – TruFund Financial Services, Inc., a leading Community Development Financial Institution (CDFI), is proud to announce its participation in the latest round of grants awarded by the New York Small Business Funders Collective. With this funding, TruFund will expand its TruAccess program, furthering its mission to create economic opportunities for historically excluded small businesses by providing critical financial resources, technical assistance, and access to corporate anchors.
Through its partnership with the New York New Jersey Minority Supplier Development Council, TruFund’s expanded TruAccess program will provide up-front loans at competitive rates to help small businesses bid for contracts and cover upfront costs. By pairing financial support with targeted technical assistance and fostering connections with corporate procurement networks, TruFund empowers entrepreneurs to secure and execute high-value contracts in both public and private sectors.
A Proven Solution to Breaking Barriers
Despite laws and programs designed to level the playing field, minority- and women-owned business enterprises (M/WBEs) continue to face significant barriers in securing contracts. The average value of a new contract awarded to a certified M/WBE remains significantly smaller than those awarded to non-certified firms. Many entrepreneurs struggle to secure capital, obtain necessary certifications, and demonstrate capacity—challenges that often exclude them from competing for high-value procurement opportunities. TruFund’s TruAccess program directly addresses these barriers, ensuring that more diverse businesses can actively participate in New York City’s supply chain.
Strategic Growth Across NYC
The expanded TruAccess program will target small businesses across Queens, Brooklyn, and Manhattan—three key boroughs where entrepreneurs can leverage new capital and resources to scale their operations. By integrating financial products with comprehensive business support services, TruFund is fostering a more inclusive and resilient business ecosystem.
Commitment to Economic Inclusion
“At TruFund, we believe that access to capital, technical support, and strategic partnerships are essential for small businesses to thrive,” said Dr. Kim Carter Evans, Executive Vice President and Chief Operating Officer at TruFund Financial Services. “This expansion of the TruAccess program is an important step in ensuring that undercapitalized entrepreneurs are equipped with the tools they need to successfully navigate and compete in the contracting space.”
TruFund’s participation in the New York Small Business Funders Collective exemplifies its commitment to fostering sustainable business growth and creating equitable opportunities for all entrepreneurs. As part of this collaborative effort, TruFund continues to drive impactful solutions that enhance economic mobility and expand market access for small business owners.
Read the press release from the NYSBFC here.
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About TruFund Financial Services, Inc.
TruFund Financial Services, Inc. is a mission-driven financial institution dedicated to empowering undercapitalized communities through capital access and innovative solutions. With a focus on small businesses, community infrastructure, and inclusive economic growth, TruFund builds stronger communities nationwide. For more information, visit www.trufund.org.
Media Contact:
Allison M. Washington
AVP | Director of Marketing & Communications
917.838.5804
awashington@trufund.org
