NCR CORONAVIRUS RESPONSE RESOURCES
Wells Fargo is partnering with a non-profit community lender to help small businesses
Published April 13, 2020
Small business owners have been hard hit by COVID-19, many having to layoff their employees and close up shop. Fortunately there are now resources to help them make a recovery.
As reported by WSB-TV in Atlanta, Wells Fargo is providing a $2.8 million investment to help small businesses in Georgia. By partnering with Access Capital for Entrepreneurs (ACE), that $2.8 million will be leveraged into nearly $30 million in loans to help 250 small businesses and create as many as 500 new jobs.
One of the small businesses owners featured by WSB-TV who could profit from the investment is Pam Baker. After opening her first tax office in 1999, she’s now the owner of an H&R Block franchise that she recently expanded to Southwest Atlanta.
She credits ACE for making the expansion possible. “They helped me fund all of the computers and the new furniture that I needed to expand,” Baker said. “Which basically allowed me to continue operations without having a nervous breakdown.”
ACE is a nonprofit that’s been helping small businesses who typically can’t get a loan from a traditional bank for years, and they’ll be particularly helpful during the pandemic.