Under the leadership of President and CEO James H. Bason, TruFund Financial Services, Inc., the organization continues its mission of fostering economic and social justice. Headquartered in New York City, TruFund operates in New Jersey, Alabama, Louisiana, Texas, and Georgia. As a Community Development Financial Institution (CDFI), TruFund has been serving underserved small businesses, nonprofits, and individuals since 2005. By providing affordable capital, business advisory services, and capacity-building programs, TruFund addresses systemic financial inequities while building stronger, more resilient communities.
Since joining the African American Alliance of CDFI CEOs in June 2019, TruFund has found a natural synergy with its mission to advance financial equity and inclusion. As one of the original members engaged in the formation of The Alliance, James H. Bason has been deeply committed to its vision from the start. Through participation in The Alliance’s Investment Committee, Bason and his team have connected with like-minded organizations, sharing strategies and solutions for addressing systemic inequities. He values the opportunity to collaborate with other professionals who share a passion for creating economic opportunities, noting that The Alliance fosters a collective sense of purpose that drives systemic change.
Defining Black Financial Leadership and Success
With 14 years at the helm of TruFund and over 30 years in community and economic development, Bason measures success by the tangible impact of TruFund’s work. By bridging financial gaps, enabling small businesses to thrive, creating sustainable jobs, and advocating for policies that promote financial inclusion, he is driving change at every level. His leadership is driven by fostering innovation, building high-performing teams, and creating partnerships that amplify impact.
One of TruFund’s most transformative initiatives is the Real Estate Acquisition Program (RAP). This program offers up to 90% financing and technical assistance to help small business owners acquire real estate, thereby stabilizing costs, avoiding displacement, and creating opportunities for wealth building. Real estate ownership, as Bason explains, is transformative. It secures a business’s future while fostering stability and equity in communities.
Owner Cassandre Davilmar poses outside of Lakou Cafe with Juan Carlos Cabaza, Portfolio Asset Associate at TruFund Financial Services, Inc.
One prime example of TruFund’s impact is its support of Lakou Cafe, located in Weeksville—a historic neighborhood founded by free African Americans and now part of Crown Heights in Brooklyn, New York. With TruFund’s RAP loan, entrepreneur Cassandre Davilmar purchased a 2,000-square-foot building housing her Haitian fusion café and two apartments leased to local residents. The café employs 12 individuals and has become a hub for community engagement, featuring a bulletin board for local artists and events. TruFund’s support has helped ensure the café’s long-term success while contributing to the economic vibrancy of the neighborhood.
Building on the Legacy of Black Pioneers
Advancing financial equity comes with significant hurdles, particularly the deep-rooted mistrust in financial institutions due to historical exclusion. TruFund is actively working to rebuild trust through investment, advocacy, transparency, and education. By tailoring financial services to Black entrepreneurs, the organization has expanded capital access in marginalized communities.
When we asked Bason to share his thoughts on The Alliance’s Black History Month theme, he shared that “Black History is Financial History” is a powerful reminder of the vital role that Black individuals and institutions have played in shaping America’s economic landscape.
“Personally, it’s a source of pride and inspiration, recognizing the resilience and ingenuity of Black pioneers who overcame systemic barriers. Professionally, it is a call to action, reminding us of the importance of continuing their legacy by dismantling financial inequities and creating pathways to economic empowerment for Black communities,” said Bason.
Individuals and organizations can be a part of the change by supporting CDFIs and other mission-driven financial institutions. Additionally, those who support the mission can advocate for equitable economic policies, spread awareness about the importance of financial inclusion, and invest in underserved communities.
Through innovative programs and a steadfast commitment to justice, TruFund Financial Services is honoring the legacy of Black financial pioneers while creating transformative opportunities for communities nationwide.
To learn more about James H. Bason and TruFund, visit their website at www.trufund.org.
