Community Leader Departs Following a Long Career of Public Service and Economic Development
Dallas – Effective April 7th, Charles McElrath, City of Dallas Loan Programs Director, announced his retirement from PeopleFund, a statewide nonprofit community lender. Prior to PeopleFund, McElrath served for more than a decade as the President and CEO of Southern Dallas Development Corporation; in this role he helped deploy over $50 million in capital to underserved communities and create loan programs to empower entrepreneurs. McElrath’s career spans commercial lending, finance, and community development with tenures at Comerica Bank, Merrill Lynch, and Bank of America. His commitment to economic revitalization was a staple throughout his banking and community development roles. McElrath is a graduate of Carleton College where he received a Bachelor’s of Art degree in Economics and Baldwin-Wallace College where he received a Master’s in Business Administration (MBA). McElrath used his experience in banking and his passion for helping new and existing businesses to thrive by financing businesses located in underserved areas.
“Charles has left a legacy of outstanding impact in commercial lending and small business technical support and education. His hard work and perseverance enabled hundreds of small businesses, particularly those in the Southern Dallas, to grow and prosper,” stated PeopleFund Board Chair and Comerica Senior Vice President Irvin Ashford, Jr.
“While I will miss the small businesses we serve and the colleagues I work with each day, I look forward to this next chapter in my life,” said McElrath.
Inquiries regarding the City of Dallas loan programs can be routed to Gary Lindner, PeopleFund President & CEO, [email protected] or 512.222.1015.
PeopleFund is a registered 501(c)3 nonprofit organization established in 1994. It is a U.S. Treasury certified Community Development Financial Institution (CDFI) and SBA certified lender. PeopleFund provides business loans up to $350,000 to Texas businesses that do not qualify for bank loans. It also provides client business assistance and education. The target market is minority, women, and veteran business owners and those residing in low to moderate income census tracts. Over 50% of current loans are to startups and non-profit organizations. Through access to capital and educational opportunities, PeopleFund creates economic opportunity and financial stability for underserved people to build healthy small businesses. PeopleFund inspires, educates, funds, and elevates entrepreneurs on the path to prosperity and the American dream.