TRUFUND FINANCIAL SERVICES, INC. AND CITY OF BIRMINGHAM ANNOUNCE PARTNERSHIP TO PROVIDE BUSINESS SERVICES TO MINORITY AND WOMEN OWNED CONTRACTORS
FOR IMMEDIATE RELEASE
September 20, 2017
Media Contacts:
April Odom
Kim Carter Evans
TRUFUND FINANCIAL SERVICES, INC. AND CITY OF BIRMINGHAM ANNOUNCE PARTNERSHIP TO PROVIDE BUSINESS SERVICES TO MINORITY AND WOMEN OWNED CONTRACTORS
Birmingham, AL – Birmingham Mayor William A. Bell, Sr. recently announced the launch of, first of its kind, partnership with TruFund Financial Services, Inc. (TruFund) to provide technical assistance and capital to minority and women owned businesses. TruFund was chosen through a competitive process as preferred community development financial institution (CDFI) to administer this program.
“TruFund is leveraging the city’s investment by providing capital for mobilization loans and other resources that will allow contractors to undertake more contracts than ever before.” said Norm Davis, Vice President & Managing Director TruFund Financial Services, Inc. – Alabama Market “By investing in job-generating MWBE Contractors; TruFund and the City of Birmingham will expand MWBE’s capacity for growth and improve their overall economic participation.”
“We applaud the City of Birmingham for partnering with TruFund to expand access to capital and technical assistance training for small firms that would otherwise not have the ability to bid, mobilize or perform on contracts with City agencies.” said James H. Bason, President & CEO for TruFund Financial Services.
With funding from the City of Birmingham, TruFund will provide capacity building training through its TruAccess Contractor Program helping minority and women-owned business enterprises (M/WBEs) and other small businesses grow and better compete for city funded projects including but not limited to housing and roadwork contracts. The program will also engage business owners in a better understanding of the city’s bidding process.
“The City of Birmingham is making strong progress on expanding opportunity for M/WBEs. Providing technical assistance to minority and women-owned business enterprises is a critical tool to reducing inequality,” said Mayor William Bell, Sr. – City of Birmingham. “We’re investing more effort and prioritizing growing this program, but we will not rest until minority and women owned businesses have the same opportunities to prosper in this great city as the successful businesses who have come before them.”
TruFund Financial Services, Inc. has a substantive history with M/WBE Contractors. The TruAccess Contractor Program created by TruFund meets the needs of small minority and women owned contractors by offering educational, technical assistance and lending components.
###
TruFund Financial Services, Inc. is a wholly independent national non-profit Community Development Financial Institution (CDFI). 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 organization. To learn more about TruFund, visit www.trufund.org.
