Native-Focused Organizations Receive More Than $6 Million in Grants From Wells Fargo’s Invest Native
Wells Fargo has distributed $6.4 million in grants to 33 nonprofits across six states through its Invest Native Initiative. The funding aims to strengthen housing access, small business growth, financial health, and sustainability in Native communities across Arizona, Montana, New Mexico, North Dakota, South Dakota, and Wyoming. Expected outcomes include the production of 258 homes, support for 2,000 small businesses, creation of 322 jobs, preservation of 477 jobs, and financial counseling for over 8,000 Native people. The initiative is part of Wells Fargo's $20 million commitment to support Native communities, working alongside Enterprise Community Partners to maximize impact through technical assistance and program evaluation.
Wells Fargo ha distribuito 6,4 milioni di dollari in sovvenzioni a 33 organizzazioni no-profit in sei stati attraverso la sua Invest Native Initiative. Il finanziamento mira a rafforzare l'accesso alla casa, la crescita delle piccole imprese, la salute finanziaria e la sostenibilità nelle comunità native dell'Arizona, del Montana, del New Mexico, del Dakota del Nord, del Dakota del Sud e del Wyoming. I risultati attesi includono la produzione di 258 abitazioni, supporto per 2.000 piccole imprese, creazione di 322 posti di lavoro, preservazione di 477 posti di lavoro e consulenza finanziaria per oltre 8.000 persone native. L'iniziativa è parte dell'impegno di Wells Fargo di 20 milioni di dollari per supportare le comunità native, collaborando con Enterprise Community Partners per massimizzare l'impatto attraverso assistenza tecnica e valutazione dei programmi.
Wells Fargo ha distribuido 6,4 millones de dólares en subvenciones a 33 organizaciones sin fines de lucro en seis estados a través de su Iniciativa Invest Native. La financiación tiene como objetivo fortalecer el acceso a la vivienda, el crecimiento de pequeñas empresas, la salud financiera y la sostenibilidad en las comunidades nativas de Arizona, Montana, Nuevo México, Dakota del Norte, Dakota del Sur y Wyoming. Los resultados esperados incluyen la producción de 258 viviendas, apoyo a 2,000 pequeñas empresas, creación de 322 puestos de trabajo, preservación de 477 puestos de trabajo y asesoramiento financiero para más de 8,000 personas nativas. La iniciativa forma parte del compromiso de 20 millones de dólares de Wells Fargo para apoyar a las comunidades nativas, trabajando junto con Enterprise Community Partners para maximizar el impacto mediante asistencia técnica y evaluación de programas.
웰스파고는 투자 네이티브 이니셔티브를 통해 여섯 개 주에 걸쳐 33개의 비영리 단체에 640만 달러의 보조금을 분배했습니다. 이 자금은 아리조나, 몬태나, 뉴멕시코, 노스다코타, 사우스다코타 및 와이오밍의 네이티브 커뮤니티에서 주택 접근, 소기업 성장, 재정 건강 및 지속 가능성을 강화하는 것을 목표로 하고 있습니다. 예상되는 결과로는 258채의 주택 생산, 2,000개의 소기업 지원, 322개의 일자리 창출, 477개의 일자리 보존, 그리고 8,000명 이상의 원주민에 대한 재정 상담이 포함됩니다. 이 이니셔티브는 웰스파고가 네이티브 커뮤니티를 지원하기 위해 약속한 2,000만 달러의 일환이며, 기술 지원 및 프로그램 평가를 통해 영향을 극대화하기 위해 Enterprise Community Partners와 협력하고 있습니다.
Wells Fargo a distribué 6,4 millions de dollars de subventions à 33 organisations à but non lucratif dans six États par le biais de son Invest Native Initiative. Ce financement vise à renforcer l'accès au logement, la croissance des petites entreprises, la santé financière et la durabilité dans les communautés autochtones de l'Arizona, du Montana, du Nouveau-Mexique, du Dakota du Nord, du Dakota du Sud et du Wyoming. Les résultats attendus incluent la production de 258 maisons, le soutien à 2 000 petites entreprises, la création de 322 emplois, la préservation de 477 emplois et un conseil financier pour plus de 8 000 personnes autochtones. L'initiative fait partie de l'engagement de 20 millions de dollars de Wells Fargo pour soutenir les communautés autochtones, en collaborant avec Enterprise Community Partners pour maximiser l'impact par le biais d'une assistance technique et d'une évaluation des programmes.
Wells Fargo hat 6,4 Millionen Dollar an Zuschüssen an 33 gemeinnützige Organisationen in sechs Bundesstaaten im Rahmen seiner Invest Native Initiative verteilt. Die Finanzierung zielt darauf ab, den Zugang zu Wohnraum, das Wachstum kleiner Unternehmen, die finanzielle Gesundheit und die Nachhaltigkeit in den indigenen Gemeinschaften in Arizona, Montana, New Mexico, North Dakota, South Dakota und Wyoming zu stärken. Erwartete Ergebnisse sind die Produktion von 258 Wohnungen, die Unterstützung von 2.000 kleinen Unternehmen, die Schaffung von 322 Arbeitsplätzen, die Erhaltung von 477 Arbeitsplätzen und die finanzielle Beratung für über 8.000 indigene Menschen. Die Initiative ist Teil des Engagements von Wells Fargo über 20 Millionen Dollar zur Unterstützung der indigenen Gemeinschaften und arbeitet mit den Enterprise Community Partners zusammen, um die Wirkung durch technische Unterstützung und Programmevaluation zu maximieren.
- Distribution of $6.4 million in grants to support Native communities
- Expected creation of 258 new housing units (156 for purchase, 102 rental)
- Support for 2,000 small businesses, including 1,500 sole proprietors
- Creation of 322 new jobs and preservation of 477 existing jobs
- Facilitation of over $1 million in debt reduction for 1,000 participants
- Provision of financial counseling to more than 8,000 Native people
- None.
Insights
The
- Housing development: 258 new housing units
- Small business support: 2,000 businesses impacted, creating/preserving nearly 800 jobs
- Debt reduction:
$1 million+ across 1,000 participants - Financial education: 8,000+ individuals receiving counseling
This initiative strategically positions Wells Fargo in six key states with significant Native populations, enhancing their ESG profile and market penetration in underserved communities. The program's comprehensive approach targeting housing, small business and financial health creates multiple touchpoints for future business development. The focus on capacity building and local leadership development suggests a sustainable, long-term market development strategy. The partnership with Enterprise Community Partners adds credibility and expertise in impact measurement, which is increasingly important for institutional investors evaluating banks' community reinvestment activities.
Initiative supports community groups in six states with focus on addressing economic opportunities
SAN FRANCISCO, CA / ACCESSWIRE / November 4, 2024 / Across a six-state region, 33 nonprofits received a total of
"We continue to listen and learn from the leaders already doing the work in Native communities," said Darlene Goins, president of the Wells Fargo Foundation. "With philanthropic investment in the mission, staff and capacity of Native-serving and Native-led organizations, we can help create positive outcomes for families, small businesses, and communities - respecting the culture, expertise and traditions within Tribal communities. With these grants, Wells Fargo delivers on its
Grantees share that Invest Native funding is anticipated to deliver tangible community outcomes, including:
Producing 156 homes for purchase and 102 rental homes
Serving an estimated 2,000 small businesses, including more than 1,500 sole proprietor businesses
Supporting businesses in creating 322 jobs and preserving 477 jobs
Facilitating debt reduction for 1,000 participants, with total debt reduction exceeding
$1 million Providing financial counseling or coaching to more than 8,000 Native people
Training of 27 community-based organizations on climate resiliency topics
In addition, Invest Native supports strengthening nonprofits and coalitions by building their capacity to serve. As an example, Mountain Plains Community Development Corporation leveraged its grant funds as seed funding and reports providing more than
Wells Fargo is working with Enterprise Community Partners and its Native-led and experienced Tribal Nations team to provide strategic guidance, technical assistance and training, peer convening, and program evaluation to maximize the impact of the initiative.
"It is exciting to see how the grantees leverage Invest Native support to fulfill needs in their communities by expanding services, furthering their geographic reach, and building new programs," said Jennie Rodgers, Enterprise VP and Rocky Mountain, Tribal Nations, and Rural Communities Market Leader for Enterprise Community Partners. "We're honored to continue supporting Wells Fargo as they forge ahead in supporting collaborative, creative, resilient Native-led work."
The 33 organizations that received funding in 2024 include:
Arizona
Arizona Native Asset Coalition Corporation
Change Labs
Honor Water
Nááts'íilid Initiative
Nahata Foundation, Inc.
Nalwoodi Denzhone Community
Native Public Media
Red Feather Development Group
Seeds of Harmony, Inc.
Montana
Kids Co-op, Montana
NACDC Financial Services, Inc.
Native American Development Corporation
Plenty Doors Community Development Corporation
Salish and Kootenai Housing Authority
Salish Kootenai College
New Mexico
Native Community Capital
Navajo Townsite Community Development Corporation
New Mexico Community Capital
Pueblo of Acoma Housing Authority
Pueblo of Jemez Housing Authority
Southwest Tribal Housing Alliance
North Dakota
Sacred Pipe Resource Center
SAGE Development Authority
South Dakota
Akiptan, Inc.
Black Hills Community Loan Fund, Inc.
Buffalo Nations Grasslands Alliance
Four Bands Community Fund, Inc.
Lakota Funds
Mazaska Owecaso Otipi Financial
Oyate Teca Project
Sicangu Community Development Corporation
South Dakota Native Tourism Alliance/Pine Ridge Chamber of Commerce
Wyoming
Wind River Development Fund
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately
Additional information may be found at www.wellsfargo.com
LinkedIn: https://www.linkedin.com/company/wellsfargo
Media Contact Information
Erin Devaney, 704-635-0690
erin.devaney@wellsfargo.com
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SOURCE: Wells Fargo
View the original press release on accesswire.com
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