TruFund Financial Services, Inc. Unveils New Brand Identity

NEW YORK, June 11, 2013 /PRNewswire/ -- TruFund Financial Services is the new name for the former Seedco Financial. An independent, national not-for-profit Community Development Financial Institution (CDFI) with more than $55 million assets under management, TruFund Financial Services stimulates economic development in low- to moderate-income (LMI) communities by providing affordable capital, hands-on business assistance and innovative solutions to small businesses.

TruFund Financial Services provides fair and accessible capital, tailored financial solutions and connections to a network of business consultants to not-for-profit organizations and small businesses that are underserved by traditional banking and lending institutions. When considering loan applicants, TruFund Financial Services evaluates the applicants' talent for work, commitment to success and willingness to invest in themselves. Through this holistic approach and unique model, TruFund Financial Services stimulates economic growth in LMI communities. Every day, TruFund Financial Services expands the ability of local businesses and organizations to participate in growth opportunities, to succeed and, in turn, to enable their communities to thrive.

"Our new brand will allow us to convey our mission and the important work that we do more clearly and succinctly," said James H. Bason, President of TruFund Financial Services. "The TruFund brand stands for confidence and stability, qualities that are important to our employees, customers and partners."

"At this juncture in our evolution, as we are poised to assist more customers and communities, it is even more imperative that our name clearly communicate the important work that we do and our dedication to fair and accessible capital for our customers," said Demetric A. Duckett, SVP, Business Development and Marketing of TruFund Financial Services.

Since its origins in the aftermath of 9/11 when TruFund Financial Services deployed more than $30 million in capital to devastated businesses in the New York metropolitan area, TruFund has steadily evolved, building upon a solid foundation of deep and trusted relationships with customers in LMI communities, government agencies and a network of partners including foundations, financial institutions and community organizations.

TruFund has three principal areas of geographic focus: New York, Louisiana and Alabama. In New York, TruFund Financial Services continues its mission of supporting entrepreneurs and non-profits and is also using its post-disaster business expertise to administer lending programs for businesses impacted by Hurricane Sandy. In Louisiana, in the wakes of Hurricanes Katrina and Rita and the Gulf Coast oil spill, TruFund Financial Services created invaluable financial assistance lifelines for the hard-hit fishing industry, one of many underserved small business sectors it continues to support in the region today. In Alabama, where its initial work was to develop affordable housing projects in partnership with historically black colleges and universities (HBCUs), TruFund Financial Services has since expanded to develop growth opportunities for Alabama's underserved small businesses, including those in the agricultural and construction sectors. A notable area of recent investment and future growth for TruFund Financial Services is expanded operations and support for the businesses and communities of Alabama's economically challenged Black Belt region.

In all three geographies, TruFund Financial Services also continues to be committed to helping small businesses thrive by participating in federally and state-funded infrastructure and other development projects that create jobs and keep wealth within local communities. Currently, TruFund Financial Services is partnering with the U.S. Department of Transportation Short-Term Lending Program for federal infrastructure and construction projects, the U.S. Department of Agriculture Rural Microentrepreneur Assistance Program (RMAP), administered by individual states to boost small business development in rural communities, and the U.S. Small Business Administration (SBA) Community Advantage Program, to provide SBA lending to heretofore underserved small businesses and entrepreneurs.

"In these challenging economic times, our work supporting small businesses, enabling job creation and rebuilding wealth in local communities is even more critical. While our name has changed to better reflect our mission and position as a stable and reliable lender, we remain constant and unwavering in our commitment to fostering the long-term vitality of our customers and their communities," said Bason.

About TruFund Financial Services
TruFund Financial Services, Inc. is a wholly independent national non-profit Community Development Financial Institution (CDFI) with more than $55 million assets under management. 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. 

Through its subsidiary, Empowerment Reinvestment Fund LLC (ERF), a certified Community Development Entity, TruFund Financial Services also deploys New Markets Tax Credit (NMTC) allocations to support development projects across the U.S. Since 2006, ERF has been awarded $145 million in NMTCs from the CDFI Fund in five separate allocations. This highly competitive award is part of the NMTC Program enacted by Congress under the Community Renewal Tax Relief Act of 2000 to encourage economic development investment in low-income communities nationwide.

Learn more about TruFund at www.trufund.org.

SOURCE TruFund Financial Services