Geri Stengel has written about the success factors of women entrepreneurs in Forbes for 10+ years.
Wells Fargo 's* Open for Business Fund—established with $420 million in Paycheck Protection Program processing fees—provided a lifeline to struggling small businesses during the pandemic. By offering flexible grants to over 200 nonprofits, including, the fund enabled them to provide crucial financial and technical assistance to 336,000 underestimated entrepreneurs, preserving and creating over 461,000 jobs.
Lila Owens, founder of Cupcakin' Bake Shop, partnered with ICA, a CDFI that employs venture capital tools alongside traditional debt financing to foster long-term success and community wealth building in the San Francisco Bay Area. ICA was one of 200 organizations that received a grant from the Wells Fargo OFB Fund. In 2022, ICA made a $600,000 equity investment in Cupcakin' Bake Shop to help Owens expand to more locations.
Before the pandemic, MoFi typically served around 50 to 100 businesses annually, offering loans averaging $150,000 alongside technical assistance to help borrowers achieve long-term financial stability and qualify for bank loans.
Open For Business Cdfis Women Entrepreneurs Underserved Small Businesses
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Why Wells Fargo shares will rise once the Fed starts cutting interest ratesThe Investing Club holds its 'Morning Meeting' every weekday at 10:20 a.m. ET.
Read more »
Tesla rally driven by 'retail puppy love' and won't last, warns Wells FargoWells Fargo warned investors that recent retail hype and 'razzle-dazzle headlines' have masked weak fundamentals for the electric vehicle manufacturer.
Read more »
Wells Fargo says it's time to buy banks as a Trump tradeBanks made a comeback during this week's rotation, as the Financial Select Sector SPDR Fund is up 3.7% during the period — the best performance of any industry.
Read more »
Setlist: Olivia Rodrigo’s deliriously exciting ‘Guts Tour’ stop at Wells FargoRodrigo sang a 23 song, 1 hour 45 minute set to a crowd that sang and screamed along to every word.
Read more »
Juice your portfolio income with these dividend payers that offer high yields, Wells Fargo saysWells Fargo Investment Institute issued a list of high-yield, dividend-paying stocks.
Read more »
A recent pullback in this European chip stock is a buying opportunity: Wells FargoA recent pullback in this European chip stock is a buying opportunity: Wells Fargo
Read more »