True Access Capital's 2022 Annual Report

True Access Capital is a nonprofit Community Development Financial Institution (CDFI) that offers access to capital, technical assistance and business support to small businesses and entrepreneurs, located in Delaware, and in Southeastern Pennsylvania. True Access Capital builds wealth and strengthens communities by helping small businesses, primarily led-by and in-service-to, women and all people of color. Most of True Access Capital’s work is focused in low-wealth communities.

Helping Build Communities

“Our hope is that we’re able to help build communities by providing access and opportunity for small business owners through our lending and technical assistance service, which enables communities to prosper. Since our founding in 1992, True Access Capital has provided over $58 million to support more than 1,500 small businesses and community organizations.”

The Northeast Revitalization Fund was established by True Access Capital in 2021, to support small development projects in Wilmington’s Northeast corridor. The program provides loans up to $500,000, at a low-interest rate and the potential for 30 percent loan forgiveness, upon completion of the project.

“At Sub Cool Properties, we buy, rehab and sell properties. I focus on the north side of Wilmington because I’m from there. True Access makes it possible for young people who look like me to own a business. Hopefully, we come up with businesses that benefit and lift this community up.”

“I acquired a large commercial building — an old firehouse — with a parking lot. I worked on it for several years with my own funds, but it got to a point where I needed assistance to continue with the dream that I had for that building. That’s where True Access came in.”

“True Access Capital gave me the opportunity to purchase a nice facility and the money to rehab it. A lot of people go into projects not having enough funding and fall short. True Access Capital is focused on seeing the community evolve and seeing people succeed.”

Empowerment Fund loans support businesses led by Black, Indigenous, and People of Color (BIPOC) entrepreneurs in the City of Wilmington. Loans at advantageous interest rates include the potential for grants up to 20 percent of the total project.

The best part of working with True Access Capital is that from beginning to end, they wanted you to succeed. They provided resources in every aspect of business, from funding to technical assistance, marketing, and accounting.”

“True Access helps you fulfill all the requirements for a loan. I appreciate the expertise in knowing what is necessary to make the process a success. There is a ‘we’re here to work with you approach.”

“Because we were so new and growing so rapidly, traditional banks looked at our company as a risk. So even if we did get approved for financing, the rates and terms were unfavorable. True Access Capital was much different because they offered better terms and held our hands through the process.”

“With larger banks, it’s harder to get your foot in the door. If you have a small business and you’re looking for funding, I would recommend True Access Capital.

The Women’s Business Center at True Access Capital (WBC) provides intensive, outcome-oriented business services and in-depth technical assistance and training to assist women and men. WBC trainings, events, and one-on-one counseling cover fundamental and higher level trainings to assist in starting or growing a business.

Training courses include business planning, business financing, social media and marketing. In addition, All WBC clients have the opportunity to network with and learn from successful business owners and entrepreneurs.

Our partnerships with Small Business Administration (SBA), Service Core of Retired Executives (SCORE), the Small Business Development Center Network (SBDC), provide resources to ensure that entrepreneurs know the business fundamentals. We focus on helping small- and women-owned businesses succeed!