True Access Capital Corporation
True Access Capital Corporation
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About this organization
Mission
TO PROVIDE CREATIVE OPPORTUNITIES FOR ACCESS TO CAPITAL FOR SMALL BUSINESSES, COMMUNITY ORGANIZATIONS, AND DEVELOPERS OF AFFORDABLE HOUSING.
About
DURING 2017 FIRST STATE COMMUNITY LOAN FUND MADE NEW LOANS AS FOLLOWS: MICRO LOAN FUND - $481,650, BUSINESS GROWTH FUND - $1,584,000, COMMUNITY DEVELOPMENT LOAN FUND - $1,211,500. SMALL BUSINESS LOANS - ONE OF FSCLF'S PRIMARY OBJECTIVES IS PROVIDING FINANCING AND SUPPORT SERVICES FOR SMALL BUSINESS ENTERPRISES. THROUGH THIS PROGRAM, FSCLF CREATES JOBS AND BUILDS WEALTH IN EMERGING MARKETS THROUGHOUT THE STATE OF DELAWARE. FSCLF HAS TWO PRIMARY SMALL BUSINESS LENDING PROGRAMS - THE MICRO LOAN FUND AND THE BUSINESS GROWTH FUND. THE COMMUNITY DEVELOPMENT FUND FOCUSES ON THE PROVIDING CAPITAL FOR COMMUNITY-BASED PROJECTS, SUCH AS MIXED-USE PROPERTIES (RESIDENTIAL & RETIAL), NOT-FOR-PROFIT ORGANIZATIONS OTHER THAN HOUSING DEVELOPERS,CHILD CARE CENTERS AND OTHER COMMUNITY FACILITIES. THIS FUND PROVIDES UP TO $500,000 PER OBLIGOR WITH A MAXIMUM TERM OF FIVE YEARS. THE OBJECTIVE OF THE COMMUNITY DEVELOPMENT LOAN PROGRAM IS TO ADDRESS ALL OTHER LENDING THAT DOES NOT FALL SPECIFICALLY WITHIN THE PARAMETERS OF THE AFFORDABLE HOUSING OR SMALL BUSINESS LENDING PRODUCTS. THROUGH THE COMMUNITY DEVELOPMENT LENDING PRODUCT FSCLF IS EMPOWERED TO BRING SOME BENEFIT TO A PARTICULAR COMMUNITY IN THE FORM OF, FOR EXAMPLE, A NEW CHILD CARE CENTER, A HEALTH CARE PROVIDER, OR BY ASSISTING WITH THE PURCHASE OR REHABILITATION OF OFFICE SPACE FOR A NON-PROFIT ORGANIZATION.
Interesting data from their 2018 990 filing
The purpose of the non-profit is listed in the filing as “First state community loan fund's (fsclf) mission is to educate, empower, and elevate business owners, and entrepreneurs, by augmenting technical expertise, increasing access to capital and stimulating business growth throughout delaware and southeastern pennsylvania.”.
When discussing its operations, they were characterized as: “To provide creative opportunities for access to capital for small businesses, community organizations, and developers of affordable housing.”.
- The non-profit's legally reported state of operation is DE.
- The filing states that the non-profit's address in the year 2018 is 100 WEST 10TH STREET NO 300, WILMINGTON, DE, 19801.
- The form submitted by the non-profit for 2018 shows a total of 15 employees.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is greater than $1,000,000.
- Revenue less expenses is $33,690.
- The organization has 16 independent voting members.
- The organization was formed in 1992.
- The organization pays $813,636 in salary, compensation, and benefits to its employees.
- The organization pays $68,992 in fundraising expenses.