NEW YORK, NY / ACCESS Newswire / October 21, 2025 / TruFund Financial Services, Inc., a leading mission-driven Community Development Financial Institution (CDFI), has been awarded a $2,000,000 grant from Wells Fargo & Company to launch its Open for Business Growth - TruFund Real Estate Acquisition Program. The initiative is designed to help small business owners transition from tenants to property owners by making commercial real estate ownership more accessible and affordable in Atlanta, GA; Dallas, TX; Houston, TX; and the New York City metropolitan area.
Beginning July 1, 2025, TruFund will deploy the grant over a three-year period to provide small businesses financing terms that help owners overcome some oof the traditional barriers to ownership. The funds will be directed toward loan capital, loan loss reserves, bad debt expense, and program operations, ensuring that entrepreneurs not only gain access to financing but also receive the resources and education necessary to achieve long-term stability through property ownership.
"This grant from Wells Fargo marks a transformative moment for TruFund and the communities we serve," said James H. Bason, President & CEO of TruFund Financial Services, Inc. "By bridging the gap between renting and owning, we are helping small business owners build wealth, strengthen their businesses, and secure their place in the economic fabric of their cities."
The initiative reflects Wells Fargo's commitment to economic development and TruFund's mission to create pathways to prosperity for historically underserved and distressed entrepreneurs. "TruFund's vision aligns with the Wells Fargo Open for Business Growth program's goal of empowering small business owners to thrive and grow," said Kimelyn Harris, Head of Small Business Growth Philanthropy at Wells Fargo. "Wells Fargo is proud to support TruFund in its efforts to help businesses position themselves for continued growth through asset ownership."
The Open for Business Growth - TruFund Real Estate Acquisition Program is expected to catalyze small business stability and generational impact in communities where commercial property ownership has traditionally been out of reach.
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SOURCE: Wells Fargo & Company
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/banking-and-financial-services/trufund-financial-services-secures-2-million-grant-from-wells-fargo-1090014
