Wells Fargo Open for Business Fund
Wells Fargo philanthropy delivering grants to CDFIs and minority-serving lenders that lend to diverse small businesses.
About this program
The Wells Fargo Open for Business Fund is a multi-year $420 million philanthropic effort created from gross processing fees from PPP loans. The Fund delivers grants to nonprofit Community Development Financial Institutions and minority-serving lenders that focus on small businesses owned by people of color and other diverse entrepreneurs. Minority entrepreneurs access capital indirectly through the Fund's grantee lenders rather than applying directly to Wells Fargo.
Eligibility
For CDFIs and nonprofit lenders: must serve diverse, low-income, and small business communities. For business owners: locate a Fund-supported CDFI in your region and apply for a loan or technical assistance.
Requirements
- For business owners: identify a CDFI grantee of the Open for Business Fund in your area
- Apply directly to that CDFI for a loan or technical assistance
- Provide standard business documentation