Through the Wells Fargo Diverse Community Capital program, OFN and Wells Fargo have partnered to award more than $75 million to CDFIs, that have lent more $391 million to diver small businesses, creating 15,000 jobs and retaining 21,000. Today, Wells Fargo announced the award of $13 million in lending capital and grants to 19 CDFIs in the latest round of the program.
With the latest round of funding, the program aims to be even more inclusive of rural communities in addition to urban neighborhoods. Organizations serving rural counties in South Carolina, Maryland, Nebraska, Georgia and California will receive funding, as well as CDFIs serving urban centers such as Washington, D.C., Philadelphia, New York and Chicago.
Read the full press release here.