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Wells Fargo Helps Revitalize Local Business Districts Across America This Holiday Season
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Wells Fargo has launched the "Hope, USA" initiative, committing nearly $420 million to support small businesses recovering from the pandemic. This effort includes neighborhood beautification projects in over a dozen cities, aimed at revitalizing local business districts for the holiday season. By collaborating with nonprofits, Wells Fargo seeks to stabilize small businesses and encourage local shopping. Previously, the bank supported approximately 282,000 small businesses through the Paycheck Protection Program, helping 1.7 million people retain their jobs.
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Launching 'Hope, USA' initiative with nearly $420 million for small business recovery.
Collaboration with local nonprofits to beautify business districts in over a dozen cities.
Previous support for approximately 282,000 small businesses through the Paycheck Protection Program.
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“Hope, USA” builds on bank’s broad commitment to help small businesses thrive by providing nearly $420 million in recovery efforts through its Open for Business Fund
SAN FRANCISCO--(BUSINESS WIRE)--
Wells Fargo announced today the launch of “Hope, USA,” an initiative to share hope with its customers and communities in support of small businesses nationwide. Through this effort, Wells Fargo will help beautify business districts in more than a dozen cities across the country and encourage everyone to join in giving hope a hand by shopping locally this holiday season. Hope, USA builds upon the company’s commitment to supporting small businesses and helping them thrive as they emerge from the economic impact of the pandemic.
Wells Fargo will help revitalize local business districts across America this holiday season with “Hope, USA” initiative, which builds on the bank’s broad commitment to help small businesses thrive by providing nearly $420 million in recovery efforts through its Open for Business Fund. (Photo: Wells Fargo)
“After a tough couple of years, small businesses across America are working hard to get back on their feet,” said Bill Daley, vice chairman of Public Affairs at Wells Fargo. “Wells Fargo wants to build on their hope and resiliency by providing resources that help small businesses become more stable, strengthen our local communities, and lead the way toward a greater sense of normalcy we all crave.”
Hope, USA Small Business District Beautification and Revitalization Efforts
In coordination with local nonprofit organizations, Wells Fargo is leading neighborhood beautification projects throughout the country in November and December. Efforts include planting gardens, cleaning and painting exteriors, installing holiday lights and more, to freshen up local business districts in time for the holidays. Communities in more than a dozen cities across the country will benefit from Hope, USA, including: Atlanta, Charlotte, Des Moines, Denver, Houston, Los Angeles/ Orange County, Miami, Minneapolis, New York, Orlando, Philadelphia, Phoenix, San Antonio, San Francisco, St. Louis and Washington D.C.
As an example, in Philadelphia the company is coordinating with The Enterprise Center to help make improvements for small businesses located in West Philadelphia’s 52nd Street commercial corridor, an area that has persevered through a challenging couple of years. From painting buildings to power washing sidewalks, installing holiday lighting displays, and refreshing signage, Wells Fargo’s Hope, USA effort will help rejuvenate this vital shopping district that experienced major setbacks in 2020 due to the pandemic and civil unrest.
“These small businesses along 52nd Street make up the heart of West Philadelphia, and they have faced countless challenges during the past year and a half,” said Della Clark, The Enterprise Center President and CEO. “We know these minority-owned businesses have been disproportionately impacted by the pandemic and civil unrest in our community. It is critical we provide the investments they need to keep hope alive and chart a path forward.”
Commitment to Small Businesses
“Small businesses are the heartbeat of every community. They make our neighborhoods vibrant places to live, work, and raise families,” said Mary Mack, CEO of Consumer and Small Business Banking at Wells Fargo. “Simple things like writing a positive review online, shopping locally or purchasing a gift card from a neighborhood small business can make a huge difference. We are encouraging everyone to join us in giving hope a hand by shopping locally and supporting small businesses in their own communities this holiday season.”
Wells Fargo’s Hope, USA effort builds upon the company’s strong foundation of small business support. Throughout the pandemic, we’ve supported our small business customers and extended philanthropic support to the broader community. Our efforts include:
Working together with more than 3 million small businesses across the country to help them get back to thriving.
Helping approximately 282,000 small businesses get the funding they need in the Paycheck Protection Program (PPP) to keep 1.7 million people at work.*
Creating our Open for Business Fund, a roughly $420 million recovery effort offering capital, technical assistance, and long-term programs for small businesses.
Helping Community Development Financial Institutions generate an anticipated $1 billion in financing for small business owners.
Learn more about Wells Fargo’s Hope, USA effort at www.wellsfargo.com/impact and join the conversation on social media using the hashtag #HopeUSA.
* PPP data from Program inception in 2020 through 06/09/2021.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets, proudly serves one in three U.S. households and more than 10% of small businesses in the U.S., and is the leading middle market banking provider in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 37 on Fortune’s 2021 rankings of America’s largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health, and a low-carbon economy. News, insights, and perspectives from Wells Fargo are also available at Wells Fargo Stories.
