Chamber Insider Member Spotlight - True Access Capital, Van Hampton, President & CEO

Professional History & Experience
I serve as President & CEO of True Access Capital (TAC), a position I have held since 2004. In my time at TAC, we have disbursed over $39 million in financing to more than 1400 small businesses and community organizations throughout Delaware and southeastern Pennsylvania. 
 
TAC is a Community Development Financial Institution (CDFI), founded in 1992. Our mission is to educate, empower, and elevate business owners and entrepreneurs by augmenting technical expertise, providing access to capital, and stimulating business growth throughout Delaware and southeastern Pennsylvania. TAC loans typically range from $10,000 to $500,000. At least 60% of our clients are from underserved populations, including low-income individuals, businesses located in low-income census tracts, or businesses led by women or people of color.
 
I have worked in small business and community development finance for 27 years. Whether it’s an entrepreneur fulfilling a lifelong dream of starting a business, or a community group completing a project that revitalizes a neighborhood, I enjoy seeing projects come together and get a lot of fulfillment from this work.
 
Another important component of TAC’s work is our training and education programs, which are provided primarily through the Women’s Business Center (WBC) at True Access Capital. The WBC, established in 2014 through a contract with the U.S. Small Business Administration, provides in-depth, substantive, outcome-oriented business services to women and other underserved entrepreneurs. The WBC produces over 100 training and education events per year, providing intensive business training and mentorship opportunities for more than 1300 people annually. 
 
The year 2020 was a tough time for our country. The devastation from the COVID-19 pandemic put a spotlight on the inequities that exist between people of color and the majority population. TAC has always been on the front lines, and I am proud of the work we did in 2020 when 67 percent of all our loans and 82% of the dollars lent went to people of color.  
 
One of our most important 2020 programs was the Delaware Emergency Relief and Recovery Loan and Grant Program, which TAC launched in June. This program provides loans up to $50,000 for small businesses negatively impacted by COVID-19. All companies that received a loan also received a $5000 grant. Principal and interest on the emergency loan are waived for the first year. To date, we have disbursed $579,000 in emergency loans and grants to Delaware-based small businesses.
 
Chamber Experience
TAC has been a member of the Chamber since 1993. Early on, we took advantage of the Chamber’s health insurance program, and more recently, we have worked closely with the Emerging Enterprise Center. Many of our borrowers are also members of the Chamber, and we appreciate the support that the Chamber provides all of its members. 
  
When you are not helping your clients, how do you like to spend your time?
I have a pretty fulfilling life. I have six grandchildren, ranging in age from five months to nine years old, and they keep my wife and me pretty busy. I am active on several boards and committees, including Omega Psi Phi Fraternity Nu Upsilon Chapter, the Reinvestment Fund Community Advisory Board, the Cinnaire Advisory Committee, the African American Alliance of CDFI CEOs, the Collaborate Northeast Community Economy Working Group, and the Reach Riverside Redevelopment Committee. Some of my hobbies include photography, fishing, and I really enjoy a nice bourbon and a good cigar.  
 
To learn more about True Access Capital, please visit their website at www.trueaccesscapital.org.