Wells Fargo and South Carolina Lt. Gov. Pamela Evette announced Sept. 29 nearly $3 million in grants were awarded to community development financial institutions (CDFIs), including CommunityWorks.
The Greenville-based nonprofit received a $1 million grant from Wells Fargo, which was used to help small businesses manage the economic effects of COVID-19 and foster an inclusive recovery.
CommunityWorks has used this grant to help 29 rural business owners and is continuing to use the funds towards their mission.
“CommunityWorks is grateful to Wells Fargo for this initiative which targets relief to businesses that need it most,” said CommunityWorks CEO Tammie Hoy Hawkins. “Their commitment to CDFIs ensure local, minority-owned small businesses receive the resources they need. Wells Fargo continues to be a partner of CommunityWorks financially and beyond — included being represented on our board.”
The grants are a part of Wells Fargo’s Open for Business Fund program, an approximately $420 million small business recovery effort across the U.S. used to help entrepreneurs recover and rebuild. The initiative focuses on increasing access to capital through CDFIs, technical assistance and long-term recovery and resiliency programs.
