Open For Business Fund

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.
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The past 12 months have proven the resiliency and resolve of 30 million small businesses across the U.S. as they make a way to stay open day after day. Wells Fargo recognizes the importance of America’s small businesses — for local communities and the broader national economy — and the company continues to provide them with access to the capital and resources they need to weather the economic fallout of the COVID-19 pandemic.

'I Was Able to Focus on the Big Picture Again'

Small business owners like Roxanne Best have been able to stay afloat during the COVID-19 pandemic, thanks to low-interest loans from Northwest Native Development Fund and a grant from Wells Fargo’s Open for Business Fund.
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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.

Providing 'a Ramp Back to Success' for Small Businesses

The nonprofit MoFi is providing working captial to small businesses through its new Thrive loan program
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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.

$5M Award to Chicanos Por La Causa From Wells Fargo's Open for Business Fund Program

Press Release

PHOENIX, February 26, 2021 /3BL Media/ – It is with great enthusiasm that Chicanos Por La Causa announces a $5 million award from Wells Fargo to help enhance relief programs in Arizona, California and Nevada for small businesses that continue experiencing hardship related to the COVID-19 pandemic.  Prestamos CDFI, a division of Chicanos Por La Causa, will be responsible for using the awarded funds from Wells Fargo’s

Raza Development Fund Awarded Wells Fargo Open for Business Grant to Provide Relief for Small Businesses Impacted by COVID-19

Press Release

PHOENIX, February 24, 2021 /3BL Media/ - 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.

Wells Fargo's Open for Business Fund Boosts Access to Minority Lending

$84 million deployed so far has helped keep 50,000 small business jobs
Press Release

SAN FRANCISCO, January 21, 2021 /3BL Media/ - 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.

'Many hearts. One community.'

This holiday season, Wells Fargo is proud to support the American Red Cross, Feeding America®, military families, front-line workers, and small businesses — the “heart” of communities nationwide.
Blog

The perseverance of communities continues to be a shining light during these trying times, and Wells Fargo is celebrating the optimism and determination of our community anchors. From local food banks stepping up to meet the steep increase of people seeking assistance, to small businesses adapting to rapidly changing environments, to military service members and front-line workers committed to keeping our communities safe, Wells Fargo salutes those working together to support each other year-round, and especially during the holidays.

What Small Businesses Really Need to Make a Comeback

By Jenny Flores, Social Impact & Small Business Growth Executive, Wells Fargo
Blog

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. In fact, it may be key to the comeback for so many small businesses right now.

Wells Fargo Launches $400 Million Small Business Recovery Effort

The company donates all processing fees from Paycheck Protection Program to nonprofits helping entrepreneurs, minority-owned businesses
Press Release

SAN FRANCISCO, July 9, 2020 /3BL Media/ – Following an April 2020 industry-leading commitment to donate all gross processing fees from the Paycheck Protection Program, Wells Fargo unveiled today the details of an approximately $400 million effort to help small businesses impacted by the ongoing COVID-19 pandemic keep their doors open, retain employees, and rebuild.

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