Fort Worth, TX – April 28, 2022 – TruFund Financial Services, Inc. (TruFund) a Community Development Financial Institution (CDFI), along with the City of Fort Worth, today announces partnership with new CDFI Friendly Fort Worth Initiative. Formally launched in January 2022, CDFI Friendly Fort Worth aims to connect small business owners and others with affordable capital options through engaging and working with area community development financial institutions (CDFIs) and attracting new CDFIs to the region to provide financial services and capital to underserved and disinvested communities and small businesses.
“Entrepreneurship is a key driver of prosperity and community resiliency in the U.S.; however, we recognize more can be done to create conditions in which entrepreneurs will not just survive but thrive,” said Aisha Benson, Executive Vice President | COO of TruFund Financial Services, Inc. “TruFund is excited to join the CDFI Friendly Fort Worth initiative and to have the opportunity to be a vehicle for affordable and adequate capital for small businesses.”
TruFund will make available to businesses in the region, business advisory services and capital through its Economic Development Administration (EDA) Revolving Loan Fund and lending products such as recently launched real estate acquisition program (RAP) which supports underserved small business owners in acquiring owner occupied real estate.
“TruFund is pleased to be invited to serve small businesses in the City of Fort Worth and the surrounding area. We are happy to announce the availability of a new asset to the Region, a $3.4 Million US EDA Revolving Loan Fund via TruFund to serve a 26-county area including Fort Worth” said LaShaunda Pickett-René, Vice President | Texas Market Manager of TruFund Financial Services, Inc’s. “TruFund is committed to working alongside CDFI Friendly Fort Worth, the City of Fort Worth and Community Leaders to ensure that our full suite of lending products are accessible to businesses that are capital ready. And for those that aren’t yet ready, TruFund will work with its resource partners to help them get there.”
“TruFund’s commitment to Fort Worth is a significant boost to the city’s CDFI Friendly Fort Worth strategy to bring $250 million or more new financing to under-resourced people and communities here,” explained Mark Pinsky, who is leading the CDFI Friendly start-up. “My decades-long experience working with TruFund makes me confident that the TruFund team is bringing its full depth of experience to creating new opportunities for BIPOC people and communities across Fort Worth.”
To learn more about the CDFI Friendly Fort Worth initiative or TruFund register here to join Mayor Mattie Parker, Mayor Pro Tem Gyna M. Bivens, Mark Pinsky and others for a meet and greet on April 28th at Ella Mae Shamblee Library.
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About TruFund Financial Services, Inc.
TruFund Financial Services, Inc. is a wholly independent national non-profit Community Development Financial Institution (CDFI). TruFund seeks to stimulate economic development in communities that are underserved by traditional banking institutions by providing fair and accessible capital, hands-on technical assistance and innovative solutions to small businesses and nonprofit organization.
About CDFI Friendly Fort Worth
CDFI Friendly is helping CDFIs build a pipeline of relevant, potential opportunities to fund per their lending focus. The Goal of the CDFI Friendly Fort Worth Initiative is to attract more CDFIs to serve Fort Worth and to close the funding gap experienced by many individuals and small businesses related to affordable housing, small businesses, nonprofits, and commercial real estate. With the support of the City of Fort Worth, CDFI Friendly Fort Worth will established a small fund of local capital to accelerate the financing through CDFIs and other enhancements to encourage CDFI lending in the area.
