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- EIN 59-3814814
- (212) 204-1328
- 39 West 37 Street - 7 Th Floor New York NY 10018-6217 USA
- www.trufund.org
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Nonprofit Overview
Causes: Economic Development
Mission: Trufunds mission is to promote and foster economic development in underserved communities and among disadvantaged populations by offering affordable capital and capacity building technical assistance (ta) to small businesses and not-for-profit organizations that have difficulty accessing conventional capital markets. Headquartered in new york city, trufunds operations also extend to serve the new jersey, alabama and louisiana markets.
Programs: A principal component of trufunds mission is to serve minority and women owned business enterprises and small businesses located within a low- or moderate-income community, as they represent historically economically disadvantaged populations and those traditionally disconnected from mainstream financial institutions. Trufund has also developed a strong track record of working with state and local government agencies to design and implement small business loan programs to help them recover from natural and man-made disasters. Trufund has successfully operated six small business disaster recovery programs following both natural and manmade disasters in new york city and louisiana. Trufund's wholly-controlled subsidiary empowerment reinvestment fund llc (erf) utilizes new market tax credits (nmtcs) to finance large-scale projects in underserved markets that act as catalysts for community development and generate significant community impacts in the form of new or retained jobs, community services or increased economic opportunity. When possible, trufund combines the availability of the organizations leverage loan program with the use of nmtcs in an effort to maximize support for financially viable, high impact projects, with an emphasis on projects that create opportunity for surrounding small businesses.