New York, NY – January 21, 2016 - Last week, TruFund Financial Services expanded its reach in services to minority and women-owned contractors by opening a new contractor support center in Louisiana in partnership with the Louisiana Economic Development (LED), East Baton Rouge Parish Fair Share Program and the Southern University Small Business Development Center.
The pilot program will serve nearly 100 contractors by offering supportive services including workstations, software such as Dodge Report, RS Means, Plan Swift w/Quick Books and industry specific training to participants. The pilot program is scheduled to run through July.
“We are so grateful to our partners for joining us to make this support center a reality for small business owners.” said James H. Bason, President & CEO of TruFund Financial Services. “We are working hard every day to create a more economically viable financial system for our small business owners. We strive to serve small businesses that want to contribute to the economic ecosystem of their local communities.”
Participants will also have the opportunity to participate in TruFund’s Contractor Competitiveness Boot Camp, which will serve as a facilitated training program that offers multiple tools and resources designed to increase contractor effectiveness, efficiencies and competitiveness.
TruFund has served as a leading stakeholder in previous economic development projects in Louisiana, partnering with organizations such as the U.S. Department of Transportation (USDOT) Small Business Transportation Resource Center and the U.S. Economic Development Administration to host workshops that educate contractors about bonding and access to capital in order to compete for contracts on federal projects such as the Louis Armstrong International Airport.
“Often times our contractors understand their trade, but do not fully understand the details of daily operation and management of their business,” said Myla R. Poree, Vice President/Managing Director of TruFund’s Louisiana market. “We help them where there are gaps.”
Trufund has loan programs and comprehensive business development services
all designed to support and facilitate the growth and procurement opportunities for contractors. TruFund currently offers a Contractor Competitiveness Boot Camp, Contract Mobilization Loan Program and the TruFund Contractor’s College.
“We have gained traction in this industry in the New York Market and look forward to adapting similar programs and expanding our current contractor programs in our other markets as they fit.” said Aisha Benson, Senior Vice President/Managing Director of TruFund’s New York market.
“TruFund has a very good niche of taking care of the needs of smaller contractors,” said Tony Arps, Project Director of USDOT Small Business Transportation Resource Center. “Sometimes the banks just can’t do that and TruFund is the kind of organization that can sit down with a small business owner and provide the technical assistance they need to grow their business.”
With offices in New York, Louisiana and Alabama, TruFund has remained a strong advocate for small business owners. Through TruFund’s Contract Mobilization loan program, contractors have recently been able to successfully mobilize over $25 million in contracts.
“Providing small businesses with the opportunity to grow their business and create jobs will always remain our top priority,” said Bason.
For more information, please visit www.trufund.org.
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About TruFund Financial Services
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 organizations.
