NEW YORK, NY — April 9, 2026 — TruFund Financial Services, Inc. (TruFund), a leading community development financial institution (CDFI) dedicated to empowering small businesses and underserved communities, today announced it has been awarded $1.5 million in funding from the New Jersey Economic Development Authority (NJEDA) through its Main Street Lenders Grant Program.
This investment positions TruFund among a select group of mission-driven lenders chosen to expand access to affordable, flexible capital for micro businesses across New Jersey. The Main Street Lenders Grant Program is designed to address persistent barriers to financing by equipping lenders with the resources needed to provide both capital and comprehensive technical assistance.
Through this funding, TruFund will offer working capital loans to eligible for-profit and nonprofit businesses located in low- to moderate-income (LMI) communities and those employing LMI workers. In addition to financing, TruFund will deliver tailored technical assistance, including one-on-one advisory services, capacity-building support, and educational programming to help businesses grow and sustain long-term success.
“We welcome the opportunity to be part of New Jersey’s small business lending ecosystem and thank NJEDA for their partnership in increasing access to capital for underserved entrepreneurs,” said James H. Bason, President & CEO of TruFund. “With a long-standing history and proven track record TruFund is well positioned to support small business growth across the state.”
The NJEDA’s Main Street Lenders Grant Program has already demonstrated significant impact, facilitating more than 250 loans totaling over $8.8 million and supporting nearly 3,000 small businesses throughout the state. By partnering with trusted community lenders like TruFund, the program ensures that entrepreneurs receive not only funding, but also the guidance and resources necessary to navigate today’s economic landscape.
Eligible businesses include those with fewer than 10 full-time employees and less than $1.5 million in annual revenue. Loan proceeds may be used for a wide range of working capital needs, including payroll, inventory, equipment, rent, utilities, marketing, and other essential operating expenses. Notably, these loans feature no prepayment penalties, interest rates capped at five percent, and deferred payments for at least 12 months following closing.
TruFund encourages eligible New Jersey businesses to explore this opportunity and connect with its advisory team to learn more about available resources.
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About TruFund Financial Services, Inc.
Founded in 2005, TruFund Financial Services, Inc. is a national Community Development Financial Institution dedicated to expanding access to capital and business support services for entrepreneurs and communities historically underserved by traditional financial systems. Through innovative financing solutions and strategic partnerships, TruFund advances inclusive economic development and drives long-term community impact.
Since its inception, TruFund has deployed $716.8 million in capital to 3,978 businesses nationwide. This investment has supported 31,706 jobs, representing an average of 44 jobs created or retained for every $1 million in financing, underscoring TruFund’s role as a catalyst for sustainable economic growth.
To learn more about TruFund’s mission, impact, and financing solutions, visit www.trufund.org.
Media Contact:
Allison M. Washington
Assistant Vice President | Director of Marketing & Communications
TruFund Financial Services, Inc.
awashington@trufund.org
917.838.5804
