Dallas has welcomed Derric Hicks as the new CEO of the Texas Mezzanine Fund, a key player in financing small and medium-sized businesses. With over 20 years in banking, Hicks aims to improve access to capital for minority-owned businesses and underserved communities. TMF focuses on flexible financing solutions and has already backed over $120 million in loans, supporting significant economic development in low-to-moderate-income areas. Under Hicks’s leadership, the fund is poised to enhance its community impact and support the local economy.

The Texas Mezzanine Fund (TMF), a Community Development Financial Institution established in 1999, has provided over $120 million in loans to Texas-based businesses, focusing on small and medium-sized enterprises to fund growth, acquisitions, and recapitalization. Under CEO Derric Hicks, TMF emphasizes expanding access to capital for minority-owned businesses and underserved communities by offering flexible financing solutions, including adjustments to loan-to-value ratios and repayment terms, thereby turning traditional loan rejections into approvals.

First Citizens Bank is committed to empowering the financial aspirations of individuals, businesses, and organizations. We’re honored to have presented Texas Mezzanine Fund with an Equity Equivalent Investment to help small businesses and nonprofits with their community development efforts in Texas. Together, we are committed to driving impactful changes in our communities.

Texas Mezzanine Fund (TMF) proudly commemorates 25 years of unwavering commitment to fostering economic growth and opportunity across Texas and the Southwest. Established in 1999, TMF has emerged as a pivotal Community Development Financial Institution (CDFI), providing over $120 million in flexible capital solutions to small and medium-sized businesses, particularly in underserved communities.

U.S. Bancorp Community Development Corporation (USBCDC) today announced $1.15 million in grants to more than a dozen Black-led Community Development Financial Institution (CDFI) partners and – in partnership with the U.S. Bank Foundation – a grant to the African American Alliance of CDFI CEOs. This is part of our overall $116 million commitment to addressing social and economic inequities.

In a candid reflection, Ken Dubuque recounts the inception of the Texas Mezzanine Fund (TMF) in 1999, highlighting its mission to stimulate economic growth in underserved communities by providing flexible funding options. Overcoming regulatory hurdles and initial skepticism, TMF, under Dubuque's leadership, successfully mobilized capital and partnerships, resulting in over $37 million in loans to more than 120 businesses and the creation of nearly 1,700 jobs by 2007.