Victor Elmore is President and Chief Executive Officer of the Texas Mezzanine Fund. The Texas Mezzanine Fund, Inc. (TMF), is a statewide Community Development Financial Institution (CDFI) that provides financing for businesses located in distressed areas, minority-owned businesses, and small businesses that create jobs for low and moderate-income people.
TMF achieves economic impact for Texas businesses and citizens with three primary loan products:
· Financing to growth-oriented businesses either located in low- or moderate-income communities or that provide jobs for low- to moderate-income persons or that are minority-owned. TMF provides loans for expansion, equipment, business acquisition, or owner-occupied real estate.
· Financing to for-profit and non-profit developers of affordable single-family or multi-family housing. TMF provides loans for predevelopment activities, land acquisition, lot inventory and/or development, and interim construction of quality housing.
· Financing to community facilities for non-profits with a mission of serving social and economic needs of their constituents.
Consistent with its mission to serve low-income Texan communities, the offices of the Texas Mezzanine Fund is located in a low-income neighborhood with a poverty rate of 25% and family incomes only 48.3% of the area median.