Wells Fargo Awards $200,000 in Grants for Veteran Housing

VeteranWINS grant program addresses veteran homelessness and sustainable housing.

REUTERS

Wells Fargo & Company (No. 9 on the DiversityInc Top 50 list) has announced that its second annual VeteranWINS grant program will donate $200,000 across six nonprofits to address sustainable housing for military veterans. Awarded through a competitive application process, the VeteranWINS grant program provides financial support to community-based nonprofits focused on addressing veteran homelessness, transitional housing, and low- to moderate-income veteran home rehabilitation.


"Wells Fargo is pleased to support these nonprofits that work tirelessly to help veterans achieve long-term stability and success," said Jeff Chavannes, VeteranWINS program manager for Wells Fargo. "We have a long history of supporting service members and veterans, and are committed to building better communities including by working with nonprofits to address homelessness for veterans."

Launched in 2016, the VeteranWINS grant program has awarded a total of $300,000 in grants for nonprofits to directly support housing programs that address veteran homelessness.

The 2017 VeteranWINS program grants are awarded to:

Large Market: Two $40,000 Grants

180 Degrees – Des Moines, Iowa

  • Funding will be used to rehabilitate a veteran group home including carpet replacement, painting, new bathrooms and water damage repair.

American GI Forum/National Veterans Outreach Program (NVOP) – San Antonio, Texas

  • Funding will help the organization obtain a new van that is wheelchair-accessible and will contribute to the housing stability of 140 homeless veterans who live at the center.

Medium Market: Two $35,000 Grants

Community Supported Shelters – Eugene, Oregon

  • Funding will be used to improve huts at a camp for homeless veterans in Eugene. Improvements will include re-roofing and adding solar panels and wheelchair accessibility to huts.

House of Heroes, Chattahoochee Valley Chapter – Columbus, Georgia

  • Funding will assist with roof and subflooring replacement, as well as creating handicap-accessible bathrooms at the homes of several low- to moderate-income veterans and their families. These veterans have been on a waiting list for over two years to receive assistance with these vital repairs.

Small Market: Two $25,000 Grants

American Family Housing – Midway City, California

  • Funding will be used to install solar panels at an eco-friendly housing project, creating an energy-efficient home for chronically homeless veterans.

Legal Aid Service of Broward County – Plantation, Florida

  • Funding will help veterans who have experienced unexpected life events that caused them to fall behind on rent by providing legal representation and rental assistance, enabling them to get back on track and avoid eviction.

Wells Fargo has been helping military members, veterans and their families succeed financially for more than 160 years. Since 2012, Wells Fargo has donated more than 300 homes, valued at over $50 million, to veterans in all 50 states; donated more than $25 million to military- and veteran-related nonprofits; and hired more than 6,700 veterans. Learn more about Wells Fargo services and support for military and veterans at www.wellsfargo.com/military.

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REUTERS

Originally Published by Wells Fargo.

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13 Organizations Awarded $12.1 Million From Wells Fargo to Support Diverse Small Businesses

Funding awarded to local Community Development Financial Institutions.

REUTERS

Originally Published by Wells Fargo.

Wells Fargo & Company announced that 13 Community Development Financial Institutions (CDFIs) around the U.S. have been selected to receive $12.1 million in lending capital and grants under the Wells Fargo Works for Small Business: Diverse Community Capital (DCC) program. The recipients are private, nonprofit financial institutions that are dedicated to delivering responsible, affordable financial products to underserved populations and communities. Many of the small and micro businesses CDFIs serve may not be ready to access capital through conventional financing methods.

The Diverse Community Capital recipients are:

  • BOC Capital Corp. - Brooklyn, N.Y.
  • California Capital Financial Development Corporation – Sacramento, Calif.
  • Cooperative Development Fund of CDS for Shared Capital Cooperative - St. Paul, Minn.
  • Cooperative Fund of New England – serving New England
  • Entrepreneur Fund – Duluth, Minn.
  • First American Capital Corporation – West Allis, Wis.
  • Hartford Community Loan Fund – Hartford, Conn.
  • Local Initiatives Support Corporation – serving Los Angeles
  • Mission Economic Development Agency (MEDA) – San Francisco
  • Mountain BizWorks – Asheville, N.C.
  • New Jersey Community Capital – New Brunswick, N.J.
  • PeopleFund – Austin, Texas
  • Rainier Valley Community Development Fund – Seattle, Wash.

Diverse Community Capital funds will be used by the awardees to increase lending to diverse small business owners; help more diverse small business owners get the coaching and education resources they may need to grow their business; and improve, create or add resources, materials, products, or programs to better serve their target market.

Under the program, awardees also have the opportunity to participate in a social capital component, delivered by Opportunity Finance Network, a national network of CDFIs. Social capital opportunities include an online learning community, working groups on specific topics, consulting, peer learning and mentoring.

"Now in its third year, the DCC program's impact on communities has been compelling," said Connie Smith, Wells Fargo's Diverse Community Capital program manager. "DCC awardees are increasing access to capital and development services for diverse small businesses in their local communities. These awards are inspiring collaboration and innovation in the CDFI industry every day."

In fiscal year 2017, Diverse Community Capital awardees closed more than $284 million in loans to diverse small business clients. That represents a year-over-year increase of 23 percent for the first 18 awardees and a 63 percent increase for the next 26 awardees. Awardees closed nearly $103 million to black or African American entrepreneurs and more than $75 million to Hispanic or Latino entrepreneurs. In addition, 76 of all development services offered by DCC awardees were delivered to diverse small businesses. Most awardees reported at least one new or changed program or product designed to increase capital deployment to their clients.

"When local businesses succeed, so do the communities where we live and work," said Mike Rizer, director of Community Relations at Wells Fargo. "By financing community businesses — including small businesses, microenterprises, and nonprofit organizations — CDFIs spark job growth and retention in communities across the U.S."

Today's announcement marks Diverse Community Capital's fifth installment, or round, of awardees since 2015. Wells Fargo has committed an additional $100 million over the next three years to CDFIs serving diverse small businesses.

To earn back your trust, Wells Fargo has renewed its commitment to you. See our re-established goals at http://www.wellsfargo.com/renew.
We are re-committing to you and re-inventing how we serve you, delivering banking features like Card-Free ATM Access, and Debit Card On or Off for when you misplace your debit card. We have changed our sales policies and culture to fix what went wrong and make things right, knowing an apology is just the beginning.

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Veterans group calls Trump's tweet "the most inappropriate" Memorial Day remarks from a president.

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