Program will support the strength and resiliency of industrial small businesses in the Hunts Point Peninsula
January 8, 2021 – NEW YORK – TruFund Financial Services, Inc. is launching a robust six-month program called the Industrial Business Leadership Program (IBLP) to support the strength, resiliency, and long-term growth potential of industrial small businesses located in the Hunts Point peninsula. The program is supported by an $800,000 grant from the Economic Development Agency of the U.S. Department of Commerce. The program will run two consecutive cohorts of up to 20 participants starting in February 2021.
Run entirely virtually, the IBLP will provide empowering and engaging workshops, intimate CEO roundtables, subsidized consulting by subject matter experts, and one-on-one coaching to help participants implement and reap the benefits of the program. The program will also actively engage the support of local small business resources and service providers to help program participants address their needs and goals. Partners include the Bronx Overall Economic Development Corporation (BOEDC), South Bronx Overall Economic Development Corporation (SoBro), the Lehman College SBDC, and the Greater Hunts Point Economic Development Corporation, among others.
To participate in the program, small businesses must be industrial in nature, have more than $200,000 in revenue and more than three employees in addition to the owner. However, the program is designed to serve businesses in a variety of stages and circumstances. Whether a business is currently in the midst of adapting to change, pursuing growth, or looking ahead to succession, the IBLP will empower and guide industrial business leaders to create resilient and thriving industrial businesses that provide jobs and economic vitality on the Hunts Point peninsula.
TruFund’s Executive Vice President, Aisha Benson, said, “The COVID-19 pandemic has revealed like never before the importance of promoting the strength and resilience of our small business community. The IBLP is being provided at the perfect time to help industrial businesses in Hunts Point emerge from this crisis stronger and better than ever.” TruFund’s Vice President of Strategy & Innovation, Brian Gurski, said “The IBLP is packed with value specially tailored to address the unique challenges and opportunities that lie before New York City’s industrial businesses. It is a cutting-edge program delivered with subject matter expertise and a steadfast commitment to empowering participants to grow as leaders and build their businesses according to their individual needs and goals.”
A special orientation session providing more information about the program will be held on Thursday, January 21, 2021, from 5:00 p.m. to 6:30 p.m. Register for the orientation on Eventbrite. To apply to the program or for any additional information, please email the IBLP team at NewYork@trufund.org.
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About TruFund Financial Services, Inc.
TruFund Financial Services, Inc. is a wholly independent national nonprofit 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. To learn more about TruFund, visit www.trufund.org.
About the U.S. Economic Development Administration
The mission of the U.S. Economic Development Administration is to lead the federal economic development agenda by promoting competitiveness and preparing the nation's regions for growth and success in the worldwide economy. An agency within the U.S. Department of Commerce, EDA makes investments in economically distressed communities in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth. To learn more about EDA, visit www.eda.gov.
