TruFund Financial Services — CDFI Small Business Loans
TruFund Financial Services
$500–$1,000,000
CDFI loans for underserved businesses in NY, AL, LA, TX
TruFund Financial Services is a Treasury-certified CDFI that provides small business loans of $500 to $1,000,000 to underserved small business owners in New York, Alabama, Louisiana, and Texas — with a strong focus on minority-owned businesses, women-owned businesses, and businesses in low-income urban communities. TruFund is an SBA-approved microloan intermediary and an SBA Community Advantage SBLC lender. TruFund also runs free technical assistance programs and business advising alongside its lending.
- Funding type
- Loan
- Level
- Private
- Amount range
- $500 – $1,000,000
- Realistic amount
- Most TruFund borrowers receive SBA microloans of $15,000–$50,000 or Community Advantage loans of $75,000–$200,000. First…
- Deadline
- Rolling — applications accepted year-round with no intake cycles.
- Status
- active
- States
- NY, AL, LA, TX
- Payment model
- loan
Who qualifies
- Business must be located in one of TruFund's four operating states: New York, Alabama, Louisiana, or Texas
- For-profit businesses and some nonprofits eligible depending on loan product
- Minimum 6 months in business (some flexibility for pre-revenue businesses with strong plans)
- No minimum credit score — TruFund uses mission-aligned underwriting based on cash flow and business potential
- SBA Microloan ($500–$50,000): must meet SBA small business size standards; not available for businesses that have been denied SBA assistance due to fraud
- SBA Community Advantage ($50K–$350K): must operate in an underserved market or have a compelling community development mission
- Priority given to minority-owned, women-owned, and businesses in low-to-moderate income communities
What it covers
Eligible expenses
- Working capital and operating expenses
- Equipment and machinery
- Leasehold improvements
- Inventory and supplies
- Marketing and business development
- Payroll and hiring
- Technology and software
Ineligible expenses
- Personal expenses
- Speculative investments
- Refinancing of existing federal or SBA debt without significant new capital component
- Gambling, adult entertainment, or illegal activities
How to apply
-
1
Contact TruFund or submit online inquiry
Submit a loan inquiry at trufund.org/apply or call TruFund's main office. TruFund serves a specific geographic footprint — the intake team will confirm your location eligibility and recommend the right loan product. Initial response within 1–3 business days.
~0.5 hrs
-
2
Complete loan application form
TruFund provides a loan application covering business background, loan purpose, and financial history. For microloans, a simple 2–3 page application. For Community Advantage or direct CDFI loans, a more detailed narrative on business operations and growth plan.
~3 hrs
-
3
Provide financial documents
3–6 months of business bank statements, most recent 1–2 years of business tax returns (or YTD P&L for newer businesses), personal financial statement for owners with 20%+ ownership, and government-issued ID for all owners.
~3 hrs
-
4
Loan review and underwriting
TruFund reviews the application and may schedule a brief phone or in-person meeting with an applicant. Decisions: microloans typically 1–3 weeks; Community Advantage 3–6 weeks. TruFund loan officers provide guidance on strengthening the application if needed.
~0.5 hrs
-
5
Receive funds and access technical assistance
Approved borrowers sign loan documents and receive funds via ACH. TruFund also connects borrowers to free business advising, financial coaching, and access to TruFund's Small Business Center network.
~1 hrs
TruFund's Community Advantage loans (up to $350K with SBA backing) are significantly underused — most founders approach TruFund for microloans but don't realize larger SBA-backed products are available with the same flexible underwriting. If your business has 2+ years of revenue and a growth plan, ask specifically about Community Advantage.
Deadline & timing
TruFund accepts applications on a rolling basis. Turnaround is typically 1–3 weeks for microloans and 3–6 weeks for Community Advantage and direct CDFI loans.
Programs that stack well
Related programs
Last reviewed 2026. GrantCompass is an independent funding-discovery tool and is not affiliated with any government agency. Always confirm details on the official program page.