Our world has changed significantly since we launched our five-year strategic plan in September 2023. Although the environment around us has shifted dramatically, I am grateful for the strong foundation that keeps us grounded.
Our world has changed significantly since we launched our five-year strategic plan in September 2023. Although the environment around us has shifted dramatically, I am grateful for the strong foundation that keeps us grounded.
Deep staffing and resource cuts at the federal level have forced us to ask: what does this mean for organizations like True Access Capital (TAC), which for years have partnered with government to invest in underrepresented communities across Delaware and southeastern Pennsylvania? The answer is clear; it means we must become an even better, stronger, and more efficient organization, one that is able to adapt quickly while staying true to our mission.
Two years into our strategic plan, I am pleased to report that we have made meaningful progress despite these challenges. We have expanded our programs, strengthened internal operations, and deepened partnerships, all with the goal of creating greater impact for the small businesses and entrepreneurs that we serve. Each step forward demonstrates the resilience of our organization and our unwavering commitment to empower communities throughout our region.

That commitment is evident. Over the past year and half, TAC deployed $6.9 million in new loans, 60% going to businesses in Delaware and 40% to businesses in southeastern Pennsylvania. These investments have created or retained 172 jobs, reaching the communities that need us most: 73% of loans went to people of color, 53% to low-income individuals, and 40% to women.

Our Women’s Business Center (WBC) also had a remarkable year, highlighted by the H.E.R. (Helping Entrepreneurs Rise) Business Plan Competition. The WBC received 57 submissions from women entrepreneurs, each of whom took the time to complete a full business plan, which that alone is a tremendous accomplishment. By going through the process, these women gained the knowledge and discipline to strengthen their businesses for the future. In our eyes, they are all winners, because they leave the competition better prepared, more resilient, and empowered to succeed.
These are challenging times, but TAC remains steadfast in our mission and in our commitment to the small businesses and community organizations that we serve. I am truly grateful for the opportunity to support resilient entrepreneurs and to walk alongside partners who share our vision. Together, we will continue to strengthen communities throughout our region.

ASSETS

| STATEMENT OF FINANCIAL POSITION | 2022 | 2023 | 2024 |
| Total Assets | $22,058,882 | $24,398,779 | $25,632,139 |
| Net Liabilities | $11,751,599 | $13,702,100 | $14,088,039 |
| Total Net Assets | $10,307,283 | $10,696,679 | $11,544,100 |
| Total Liabilities & Net Assets | $22,058,882 | $24,398,779 | $25,632,139 |
| STATEMENT OF ACTIVITIES | |||
| Total Income | $3,163,889 | $3,817,315 | $4,670,432 |
| Total Expenses | $3,531,069 | $3,427,919 | $3,823,011 |
| Change in Net Assets | $(367,180) | $389,396 | $847,421 |
Investors
Artisans’ Bank
Barclays Bank of Delaware
Common Spirit Health
Citizens Bank
Customers Bank
Delaware Community Foundation
First Unitarian Church of Wilmington
HSBC
Kennett Borough
Northern Trust
Opportunity Finance Network
PNC Bank
U.S. Small Business Administration
TD Bank, N.A.
USDA – Rural Development
WSFS Bank
Individual Contributors
Clinton Tymes
Daniel Kempski
Pedro Viera Jr.
Vandell Hampton, Jr.
Contributors
Allen House Studios
Artisans’ Bank
Bank of America
Citizens Bank
City of Wilmington
Comenity Bank
Delaware Community Foundation
Delaware State University
Discover Bank
JP Morgan Chase Foundation
Laffey-McHugh Foundation
Longwood Foundation
M&T Bank
PNC Bank
Santander Bank
State of Delaware
TD Bank, N.A.
U.S. Small Business Administration
USDA – Rural Development
Wells Fargo Foundation
WSFS Bank
Justin D. Poser
Chairperson
Executive Vice President
M&T Bank
Barry L. Lott
Secretary
Director
National Council on Aging (NCOA)
Rafael X. Zahralddin, Esq.
Partner
Lewis Brisbois
Gregory M. Makosky
Vice President
Artisans Bank
Joseph W. Wilson
Vice President
PNC Bank
Rachael Mears
Treasurer
Assistant Vice President
Synchrony Bank
Emanuel V. DeShields
Principal
Be Ready Community Development Corp.
Lissa Brutus
Assistant Vice President
WSFS Bank
Helen R. Foster, JD
Small Business Enterprise Coordinator
New Castle County Government
Derrick R Robinson
Executive Director
J.P. Morgan Chase & Co
Thomas E. Hanson, Jr., Esq.
Vice Chairperson
Partner
Barnes & Thornburg
Robert Gunter, Sr.
Associate
JPMorgan Chase
Ron Kimbrough
Executive Committee Member
Senior Vice President
Citi Treasury & Trade Solutions
Jerry A. Alfano, Jr.
Senior Vice President
Citizens Bank