When you are new in town, it is always nice to feel welcomed! And that is exactly how Opportunity Fund feels, thanks to the Wells Fargo and the Community Relations staff in their Los Angeles office. Earlier today, Wells Fargo SVP Byron Reed and his colleagues presented Eric with a $50,000 check to support our microlending program in Greater Los Angeles. This contribution from Wells Fargo will help Opportunity Fund’s LA-based staff fill the financing gap for more than 500 underserved small businesses in the LA region this year—helping them bring more income home to their families, create and sustain jobs for their neighbors, and drive economic activity in their communities.
Wells Fargo’s grant comes on the heels of the Wells Fargo NEXT Award for Opportunity Finance—a $3 million award combining loan capital and operating support which Opportunity Fund received in October 2013. The award will enable Opportunity Fund to expand our innovative EasyPay automated loan repayment product in California—financing 1,000 entrepreneurs over the next few years and creating and sustaining nearly 3,000 jobs.
Thanks, Wells Fargo, for sharing our commitment to California’s small businesses!