b'Vandell Hampton Jr.President and Chief Executive Officer, True Access CapitalTrue Access Capital Background Northeast Wilmington Revitalization FundTrue Access Capital (formerly First State Community Loan Fund) was foundedThe City of Wilmington has witnessed significant growth and revitalization over in 1992 as a joint effort of the Episcopal General Convention and the greaterthe past decade. Millions have been invested in the growth of the citys central Delaware community, to provide loans, technical assistance and business advice tobusiness district and Riverfront areas. These investments have paid off handsomely community-based organizations and entrepreneurs, especially women, minoritiesfor many as the City has seen the development of hundreds of new apartments and and others underserved by traditional lenders. True Access Capitals (TAC) earlycondominiums, retail shops and a thriving restaurant scene.leaders sought to use proven business strategies in new and innovative ways to support the growth and development of minority small businesses in the City ofBut not every community in Wilmington is included in this progress. Many Wilmington. neighborhoods outside the central business and Riverfront areas are caught in cycles of poverty, blight, vacant and abandoned buildings and high crime. Northeast As it grew, TAC extended its services to other Delaware communities and in 2011,Wilmington is one such community.further expanded its service area to include Delaware and Chester counties in Pennsylvania, and in 2018, added Bucks, Montgomery, and Philadelphia counties.In 2021, as part of that years Bond Bill, the State of Delaware awarded True In 2014, TAC launched its Womens Business Center (WBC), to provide substantive,Access Capital $2,000,000 to establish the Northeast Wilmington Revitalization outcome-oriented business services to women and minority entrepreneurs. The(NWR) Fund. The NWR Fund was created to encourage new private investment WBC, which typically engages with over 1,000 entrepreneurs annually, now offersin Northeast Wilmington, with the goal of sparking revitalization across the a growing range of small business training workshops, classes, and one-on-onecommunity. In 2022, TAC was awarded an additional $1,000,000 from the Bond Bill, business counseling and mentorship opportunities. through the City of Wilmington, to recapitalize the Revitalization Fund and expand its geography to include all low-to-moderate census tracts in the City of Wilmington.From its founding, True Access Capital (TAC) has provided more than $58 million inThrough the NWR Fund, TAC provides flexible, low-interest loans of up to $500,000 loan capital to over 1,500 small businesses and community organizations. Today,for eligible projects. Under the terms of the NWR Fund, as much as 30% of each TAC has nearly $17 million under management in loan receivables. Reflecting thisloan is forgiven, provided the borrower completes the project as originally intended.growth and progress, in May 2019, TACs Board of Directors and staff leadership, ledTo date, TAC has invested over $2.4 million in Wilmingtons Northeast community, the re-branding of the organization as True Access Capital. helping build businesses and creating and/or retaining nearly 100 jobs:Delaware Three Rivers Area Economic Development Master Plan 174'