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Los Angeles Wells Fargo Works for Small Business

$110 billion in new small business loans!!

By LatinoLA Contributor
Published on LatinoLA: May 23, 2014


Los Angeles Wells Fargo Works for Small Business


Wells Fargo is introducing Wells Fargo Works for Small Business, a broad initiative to deliver resources, guidance and services to help more small businesses achieve financial success. With the new initiative, Wells Fargo also is announcing a goal to extend $100 billion in new lending to small businesses by 2018.

Wells Fargo Works for Small Business provides wide-ranging support for business owners throughout the U.S. to help them build knowledge, access capital and expand their community of support. Wells Fargo Works for Small Business encompasses the company's commitment to helping small businesses grow.

"Working with small business owners is one of the most important things we do at Wells Fargo. We know America needs small businesses to grow, add jobs and prosper for our economy to fully thrive," said Lisa Stevens, Wells Fargo's head of Small Business. "Through Wells Fargo Works for Small Business and our new lending goal, we want to provide the support small businesses across the country need to move forward."

"Wells Fargo Works for Small Business is our commitment to help small businesses in more ways than ever before. It encompasses the products, services and resources needed for small business owners to take the next step to reach their business goals," said Jamie Moldafsky, Wells Fargo chief marketing officer. "Most importantly, Wells Fargo Works for Small Business is delivered every day by our bankers who partner with business owners to help them succeed financially."

For 11 consecutive years, Wells Fargo has loaned more dollars to America's small businesses than any other bank (CRA 2002-2012). Wells Fargo also is the No. 1 SBA 7(a) lender in dollars for each of last five years and the first lender to approve more than $1 billion in SBA 7(a) loans in a single year.

Key elements of Wells Fargo Works for Small Business include:

WellsFargoWorks.com, an enhanced online resource that offers useful financial guidance on topics such as building credit and sustaining growth to help business owners increase their knowledge and confidence. The site includes hundreds of feature stories, informational resources and videos, featuring national small business strategy experts and business owners sharing their experiences.

Wells Fargo Works Project, an online video series featuring the true stories of five small businesses working with Wells Fargo to achieve their business goals and a contest for small business owners.

Online video series: The series chronicles the journeys of five selected business owners customers of Wells Fargo as they work to reach their goals with financial help from Wells Fargo and other small business experts retained by Wells Fargo. The businesses featured in the unique experience, offered by the Wells Fargo Works Project online video series, are: Universal Martial Arts Academy, San Francisco; EasyLunchboxes, Los Angeles; Zoey Van Jones Brow Studio, Pasadena, Calif.; Golden Harvest Foods, St. Paul, Minn.; North Pole Air Conditioning and Heating Services, Inc., Orlando, Fla.

The Contest: Eligible small business owners nationwide will have the chance to compete in a contest where five finalists each win $25,000 along with mentorship and tailored solutions for their business, and a $5,000 charitable donation to a charity in their community. To enter, business owners must submit up to a two and a half-minute video or 600-word essay responding to questions about their business. Twenty-five finalists will be selected to each receive $1,000 for their business. Five grand prize winners will then be selected from the 25 finalists. The contest runs from May 1 June 30, and winners will be announced in September.

Wells Fargo is working with national business and community organizations, including the U.S. Hispanic Chamber of Commerce, the National Association of Women Business Owners, the National Urban League, U.S. Black Chambers, Inc., the U.S. Pan Asian American Chamber of Commerce, the National Gay and Lesbian Chamber of Commerce, and other trade associations that allow Wells Fargo to help provide financial education and resources focused on serving the needs of small businesses in diverse communities across America.

Wells Fargo has one of the largest networks of team members serving the financial needs of small business owners nationwide. The company has approximately 32,000 bankers in its retail stores who help provide financial guidance to small business owners and consumers across the country, including small business specialists. Additionally, Wells Fargo has a team of Business Banking relationship managers in locations throughout the U.S., and phone bankers who serve small business owners 24 hours a day, 7 days a week.

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