Small Business Growth

We strengthen communities and help create local jobs by investing in underserved small business owners. We fund nonprofits that are focused on providing capital, technical assistance and networks of support for entrepreneurs.

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Inclusion & Opportunity

Opportunity Finance Network Receives Largest Grant in 35-year History From Wells Fargo
Opportunity Finance Network (OFN) announced that Wells Fargo is committing a $25 million grant to its Finance Justice Fund to help tackle systemic barriers to capital in communities around the country.

Inclusion & Opportunity

The Black Economic Alliance Foundation Launches Entrepreneurs Fund Anchored by Wells Fargo
Today, the Black Economic Alliance Foundation (BEA), in collaboration with Wells Fargo, launched the Black Economic Alliance Entrepreneurs Fund (BEA Entrepreneurs Fund) to accelerate the growth of Black entrepreneurs and business owners.

Volunteering & Community

Helping California Small Business Owners Make a Way During the Pandemic
Helping California small business owners make a way during the pandemic. Through its Open for Business Fund and the Paycheck Protection Program, Wells Fargo is continuing to support small businesses in California with the capital and resources they need to make a way to stay open, day after day.

Philanthropy

Helping Restaurants Stay in Business While Feeding Those in Need
Mayra Velazquez had just opened a second branch of her Mexican street food-inspired restaurant Xingones in Oakland, California, when the COVID-19 pandemic hit last March. Within weeks, the business she had spent the last four years growing from a farmer’s market pop-up into multiple eateries had vanished — along with 80% of her revenue.

Philanthropy

'I Was Able to Focus on the Big Picture Again'
It's not until she says it out loud that Roxanne Best truly realizes all of the different jobs she does. “I always think, ‘Wow, how do I do all of that?” Best said. Years ago, she was a scuba diving instructor and filmed students’ underwater trips, developing a knack for photography and videography. She then worked for the Confederated Tribes of the Colville Reservation’s casino and started her photography business on the side. Eventually, it grew into her full-time job.

Philanthropy

Providing 'a Ramp Back to Success' for Small Businesses
At the age of 34, Brian Menges had achieved his life dream of owning a restaurant, 2nd Street Bistro, in Livingston, Montana. Business was good over the years for Menges, who now owns the restaurant group Slainte Mhath Inc., which also includes The Murray Bar, Gil’s Goods, and a commercial kitchen.

Inclusion & Opportunity

$5M Award to Chicanos Por La Causa From Wells Fargo's Open for Business Fund Program
It is with great enthusiasm that Chicanos Por La Causa announces a $5 million award from Wells Fargo to help enhance relief programs in AZ, CA and NV for small businesses that continue experiencing hardship related to the COVID-19 pandemic.

Philanthropy

Raza Development Fund Awarded Wells Fargo Open for Business Grant to Provide Relief for Small Businesses Impacted by COVID-19
PHOENIX, AZ.—Raza Development Fund (RDF), the nation’s largest Latino Community Development Financial Institution (CDFI), has been awarded a $3.5 million grant from the Wells Fargo Open For Business Fund in support of its Small Business Initiative program which serves minority and women-owned small businesses suffering from the impacts of the Covid-19 pandemic. The funding will extend its reach to support small businesses in Arizona, Ohio, Texas, Minnesota, and Florida. RDF will continue to provide technical assistance to businesses in all markets and help them arrive to a state of readiness to receive long term capital (low-interest loans) as a resource that will enable minority-owned businesses to achieve sustainable growth and long-term self-sufficiency.

Philanthropy

Wells Fargo's Open for Business Fund Boosts Access to Minority Lending
As many small businesses are still experiencing hardship from the COVID-19 pandemic, Wells Fargo is working to support its customers in another round of the Paycheck Protection Program (PPP) and continuing to provide additional small businesses support through its Open for Business Fund. To date, the Open for Business Fund has deployed more than $84 million in philanthropic capital to Community Development Financial Institutions (CDFIs), which has helped an estimated 16,000 struggling minority-owned small businesses and helped keep in place 50,000 small business jobs.

Philanthropy

What Small Businesses Really Need to Make a Comeback
There’s a myth in the small business world: if you give an entrepreneur enough access to capital, they will succeed. The truth is, access to technical expertise around areas like budgeting, marketing, customer development, and supply chain management can be just as important as financing.

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