Wells Fargo Housing Foundation Announces $6 Million in Grants

Priority Markets Program awards 47 grants to nonprofits for neighborhood revitalization.

REUTERS

Wells Fargo & Company (No. 9 on the DiversityInc Top 50 Companies list) announced $6 million toward neighborhood revitalization efforts with 47 grants to nonprofits through the Wells Fargo Housing Foundation's 2017 Priority Markets Program.


"We are focused on making meaningful contributions to address affordable and sustainable housing," said Martin Sundquist, executive director of the Wells Fargo Housing Foundation. "These grants help revitalize neighborhoods, build stronger communities, and are an example of the positive impact that can be achieved with thoughtful public-private collaboration."

The 2017 Wells Fargo Housing Foundation Priority Markets Program supports projects, programs and initiatives that help remove barriers to sustainable housing in low- and moderate-income communities. Since 2009, the program has provided grants totaling more than $48 million to nonprofits in more than 125 communities, impacting more than 40,000 people and creating more than 4,000 places for people to call home.

Grant recipients were selected from applications submitted by nonprofits Wells Fargo identified as leading large-scale affordable housing projects. Recipients must be 501 (c)(3) organizations with successful histories of supporting low- to moderate-income communities.

Grant recipients of the 2017 Priority Markets Program are:

1. Habitat for Humanity Anchorage (Anchorage, Alaska)

2. Montgomery Habitat for Humanity (Montgomery, Alabama)

3. Pima County Community Land Trust (Tucson, Arizona)

4. American Family Housing (Midway City, California)

5. NeighborWorks Orange County (Orange, California)

6. Habitat for Humanity Fresno County (Fresno, California)

7. West Hollywood Community Housing Corporation (West Hollywood, California)

8. Resources for Community Development (Berkeley, California)

9. Satellite Affordable Housing Associates (Berkeley, California)

10. Neighborhood Housing Services of the Inland Empire (San Bernardino, California)

11. S.V.D.P. Management, Inc. (San Diego, California)

12. Tenderloin Neighborhood Development Corporation (San Francisco, California)

13. Visionary Home Builders of California, Inc. (Stockton, California)

14. NeighborWorks New Horizons (New Haven, Connecticut)

15. Neighborhood Housing Services of Waterbury, Inc. (Waterbury, Connecticut)

16. Habitat for Humanity of Washington, D.C. (Washington, D.C.)

17. Habitat for Humanity of Greater Miami (Miami, Florida)

18. Opa-Locka Community Development Corporation (Opa-Locka, Florida)

19. Ability Housing, Inc. (Jacksonville Florida)

20. Habitat for Humanity of Greater Orlando (Orlando, Florida)

21. Bright Community Trust, Inc. (Clearwater, Florida)

22. Rebuilding Together Tampa Bay (Tampa, Florida)

23. City of Refuge, Inc. (Atlanta, Georgia)

24. Columbus Area Habitat for Humanity (Columbus, Georgia)

25. NeighborWorks Columbus (Columbus, Georgia)

26. NeighborWorks Boise (Boise, Idaho)

27. Saint Ambrose Housing Aid Center (Baltimore, Maryland)

28. Unity Properties, Inc. (Baltimore, Maryland)

29. Preservation North Carolina (Raleigh, North Carolina)

30. Reinvestment Partners (Durham, North Carolina)

31. Habitat for Humanity of Omaha (Omaha, Nebraska)

32. New Jersey Community Capital (New Brunswick, New Jersey)

33. Greater Albuquerque Habitat for Humanity (Albuquerque, New Mexico)

34. Central City Concern, Inc. (Portland, Oregon)

35. Transition Projects, Inc. (Portland, Oregon)

36. Habitat for Humanity of Chester County (Coatesville, Pennsylvania)

37. One80 Place (Charleston, South Carolina)

38. Jubilee Park & Community Center Corporation (Dallas, Texas)

39. Trinity Habitat for Humanity (Fort Worth, Texas)

40. Housing Channel (Fort Worth, Texas)

41. New Hope Housing, Inc. (Houston, Texas)

42. Salt Lake Valley Habitat for Humanity (Salt Lake City, Utah)

43. Habitat for Humanity South Hampton Roads (Norfolk, Virginia)

44. Habitat for Humanity Peninsula and Greater Williamsburg (Newport News, Virginia)

45. Wesley Housing Development Corporation (Alexandria, Virginia)

46. Housing Hope (Everett, Washington)

47. Habitat for Humanity of the Greater Teton Area (Jackson, Wyoming)

Wells Fargo Observes International Day of Family Remittances, Offers Fee Waiver

Company to waive ExpressSend remittance transfer fees to all countries, payout locations June 15–18.

REUTERS

Originally Published by Wells Fargo.

Wells Fargo & Company announced it will commemorate the International Day of Family Remittances by waiving all transfer fees for ExpressSend ® remittances sent June 15–18.

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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.