Today Wells Fargo & Company (NYSE: WFC) today announced that it is providing $11.2 million to help 12 Community Development Financial Institutions (CDFIs) better serve diverse-owned small businesses. The CDFIs were selected for round two of the six-round Wells Fargo Works for Small Business®: Diverse Community Capital (DCC) program. The three-year DCC program will provide a total of $75 million in lending and grant capital to CDFIs that support diverse-owned small businesses. These CDFIs are private, nonprofit financial institutions that assist underserved populations. Since the program launched in November of 2015, more than $38 million has been distributed to 30 CDFIs.

The round two DCC recipients are:

  • Accion serving Arizona, Colorado, Nevada, New Mexico and Texas – Albuquerque, NM
  • California FarmLink – Santa Cruz, CA
  • Community First Fund – Lancaster, PA
  • Four Bands Community Fund – Eagle Butte, SD
  • Fresno CDFI – Fresno, CA
  • Justine PETERSEN – St. Louis, MO
  • Northwest Native Development Fund – Nespelem, WA
  • PIDC Regional Development Corporation – Philadelphia, PA
  • Self-Help Ventures Fund – Durham, NC
  • Tampa Bay Black Business Investment Fund – Tampa, FL
  • VEDC – Van Nuys, CA
  • WomenVenture – Minneapolis, MN

Read the full press release here

 

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