New York, NY | October 2, 2024 – TruFund Financial Services, Inc., a CDFI leader in community development and innovative financial solutions, is proud to announce the release of its 2023 TruImpact Report during the much-anticipated TruImpact Week 2024. The annual event, a cornerstone of the organization’s calendar, brings together partners, investors, small businesses, and community leaders to celebrate achievements and inspire future growth.The 2023 TruImpact Report showcases TruFund’s various programs and initiatives that continue to empower underserved entrepreneurs, strengthen communities, and drive meaningful change.
“The 2023 TruImpact Report reflects and showcases TruFund’s continued commitment to advancing economic equity by providing access to capital, supporting small businesses, fostering long-term community resilience, and our unwavering dedication to creating sustainable, long-term solutions for communities that have historically been underserved,” said James H. Bason, President and CEO of TruFund Financial Services, Inc. “Our mission is to provide more than just capital—we are empowering entrepreneurs, fostering economic inclusion, and transforming lives and. This year’s report highlights the strides we’ve made in partnership with our funders, partners, and clients, and the continued impact we will create together in the years to come.”
Key highlights from the 2023 TruImpact Report include:
- Providing $67 million in financing to underserved small businesses and communities, helping them to strengthen and grow.
- Creating and retaining more than 3,700 jobs through our financing, a ratio of 55 jobs per $1 million financed.
- Deploying $35 million in New Markets Tax Credits to 6 community-focused projects in low-income areas of AL, CO, IN, NY, PA, and TN
- Opening a new office in Atlanta, GA to serve small businesses
- Hosting more than 45 community engagement events to bring stakeholders together and support our clients
- Launching our Community Climate Finance business line
- Growing our partnerships with governments, nonprofits, and our base of donors and investors, who come together to support the small businesses and communities we serve
“As we reflect on our 2023 impact, it’s clear that TruFund has not only grown in scale but in the depth of its engagement with the communities we serve,” said Dr. Kim Carter Evans, SVP | Operations, TruFund. “This report reflects our ongoing mission to break down barriers to capital and foster lasting economic resilience. We are proud to work with incredible partners and clients who share our vision of a more equitable and inclusive economy.”
About TruFund Financial Services, Inc.
TruFund Financial Services, Inc. is a Community Development Financial Institution (CDFI) committed to fostering economic development in underserved communities. Through innovative financial solutions, strategic partnerships, and a focus on economic and social equity, TruFund empowers small businesses and nonprofits by providing access to affordable capital and business support services.
For more information on TruFund and the 2023 TruImpact Report, visit Our Impact, view at TruFund's TruImpact Report 2023 or join us for TruImpact Week 2024 TruImpact Awards New York
For media inquiries, contact:
Dr. Kim Carter Evans
SVP | Operations & Corporate Communications
TruFund Financial Services, Inc.
646.385.6946
kevans@trufund.org
