After operating for 27 years as First State Community Loan Fund, Delaware’s largest community development financial institution announced that it has rebranded itself as True Access Capital.
True Access offers access to capital for underserved small businesses in Delaware and southeastern Pennsylvania. True Access often collaborates with other financial institutions, government, private developers, nonprofits and other community-based organizations.
Prior to its rebranding, the organization’s products and services were offered under a variety of names, few of which connected back to its own brand, a release noted.
Now those products and services are offered as True Access Capital loan products, True Access Community Initiatives and True Access Training and Education. Most of the training and education services, open to all, are offered through the Women’s Business Center at True Access Capital.
True Access Capital CEO, Vandell Hampton, Jr., said an important driver of the name change is a need to more accurately communicate the organizations business model.
“Our mission is to serve underserved populations. But we’re also a financial institution. First State Community Loan Fund was not always helpful in communicating that fact. I believe the True Access Capital brand better communicates the fact that we’re a credible financial partner, with the primary difference being that our customer focus is the underserved community,” Hampton stated.
While the majority of its lending portfolio remains in New Castle County and Wilmington, areas where True Access Capital has been a major lender in Market Street and surrounding neighborhoods, Hampton said the new brand strategy will support the organization’s expansion into Bucks, Montgomery and Philadelphia counties in Pennsylvania.
Hampton added that the True Access Capital rebranding strategy builds on the organization’s work as an advocate for its small business clients and for providing equitable access to training and capital for borrowers who might not otherwise find a willing partner.
The organization’s new logo features a triangle whose three legs are color-keyed to represent True Access Capital’s three major product and service categories: loans, technical assistance and community initiatives, and technical assistance and focuses on helping women, low-income, low-wealth and other underserved entrepreneurs participate in the economic mainstream, a release stated.
“Delaware is our base and it’s where most of our relationships have been blossoming,” Hampton said. “But our goal over time is to adjust the portfolio so that as much as 40 percent of our lending and technical assistance occurs outside New Castle County.”
True Access Capital worked with NüPOINT Marketing of Wilmington to develop and launch its new brand.