1010 WINS The Bottom Line with Rob Walsh: Charter School Business Management

I recently met Raj Thakkar, a very successful entrepreneur. Nine years ago, while serving as a CFO for a Charter School, he saw many administrators who were very good with programs – but neglected the other side of the house – the finances.

He went on to create Charter School Business Management that helps charters schools in managing their books, develop budgets, handle personnel and payroll.

Two years ago, Raj was selected to participate in the Goldman Sachs 10,000 Small Business Program. Raj told me that the Program helped him take a hard look at his organizational structure. He has built an incredibly successful business and has served more than 100 organizations along the way.

If you are a small business and want to find out how the Goldman Sachs 10,000 Small Business Program can help you, visit www.goldmansachs.com
And that’s The Bottom Line, I’m Rob Walsh for 1010 WINS.

How to Get Grant Money and Other Benefits for Your Business

By Serena Solomon

NEW YORK CITY — ForStellaService, a local tech company that helps other companies improve customer service, buying a decent coffee machine was the cherry on top of winning a $250,000 grant in 2013.

"It really allowed us to move into a much more comfortable space and get amenities that you think would be standard, but if you are a startup those things are not guaranteed," said Ty McMahan, StellaService's senior director of content.

At the time, the growing company had 20 employees packed into a 1,000-square-foot office in Flatiron. The grant helped facilitate its move to a wide-open space in Lower Manhattan.

StellaService won the grant in the Take the H.E.L.M competition, a New York City Economic Development Corporation initiative that aims to keep Lower Manhattan's economy bubbling.

The sweetener is just a fraction of what's available to small businesses in the form of grants and government contracts. This year, for example, the city'sEDC will give away more than $35 million and Empire State Developmenthas hundreds of millions in funding and loans.

Continue reading here:http://www.dnainfo.com/new-york/20141022/battery-park-city/how-get-grant-money-other-benefits-for-your-business

SBA’s Deadline is July 28 for Physical Damage Disaster Loan Applications in New York

ATLANTA – The U.S. Small Business Administration reminds homeowners, renters, businesses and non-profit organizations in Bronx, Kings, Nassau, New York, Queens and Richmond in New York of the deadline to submit disaster loan applications for damages caused by heavy rain, and flooding on April 29-30. The deadline to apply for a physical damage disaster loan is July 28, 2014.

Loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for loans up to $40,000 to repair or replace damaged or destroyed personal property. Businesses and non-profit organizations of any size may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.

For small businesses, small agricultural cooperatives, small aquaculture businesses and most private
non-profit organizations of all sizes, the SBA offers Economic Injury Disaster Loans (EIDLs) to help meet working capital needs caused by the disaster. EIDL assistance is available regardless of whether the business suffered any physical property damage.

Interest rates are as low as 2.188 percent for homeowners and renters, 2.625 percent for non-profit organizations and 4 percent for businesses with terms up to 30 years. The SBA sets the loan amounts and terms based on each applicant’s financial condition.

Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at https://disasterloan.sba.gov/ela.

Disaster loan information and application forms may also be obtained by calling the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or by sending an email to disastercustomerservice@sba.gov. Loan applications can be downloaded from www.sba.gov/disaster. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

The filing deadline to return applications for physical property damage is July 28, 2014. The deadline to return economic injury applications is March 2, 2015.

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For more information about the SBA’s Disaster Loan Program, visit our website at www.sba.gov/disaster.

NAWBO Mentoring Program

Is your business reaching its potential? Applications now available for NAWBO-NYC’s Mentoring Program to help grow your business to new heights

NAWBO-NYC’s Mentoring Program is a once-in-a-lifetime opportunity. It’s a chance to grow your revenues, improve your skills, and take your company to the next level.

Applications are now available at http://www.nawbonyc.org for Mentees and are due no later than June 1, 2014.

This unique Program is built on a one-on-one relationship between an experienced, successful woman entrepreneur and a business owner who needs guidance to grow her company or take it in new directions.

This isn’t the usual classroom setting, but a dedicated and intensive process between a Mentor and a Mentee that is focused exclusively on areas in which the Mentee needs advice: marketing, sales, strategy, finances, operations, managing growth or public speaking. Mentors include business experts with clients in the Fortune 500, business owners with revenues of $1 million and up, and authors of books on building a successful business.

Qualified Mentees must:

* Own their own business
* Be in business full-time for at least two years

NAWBO-NYC is New York’s premier association for women business owners.

6 Short-Term Goals for Long-Term Success

Posted on January 20, 2014 by Anthony Smith

Small businesses can create big success if they consistently set short-term, attainable goals. Whether your business is looking to expand into a new market, acquire new leads or make key new hires, these short-term goals will help you sustain momentum over the long term.

1. Make sales and marketing a priority.

Clearly, sales and marketing are key to success, but many small business owners don’t have expertise in these areas. Evaluate a few of the free or inexpensive cloud-based applications that can help you optimize for search engines and improve PPC campaign results, increase lead generation or make it easy to launch and maintain marketing campaigns. By getting a bit of help with these sales and marketing activities, you can increase market awareness about your product and allow your team to dedicate more time to improving it.

See more at: http://bit.ly/1mSQbfW

Ramon Ray
Editor & Technology Evangelist
Smallbiztechnology.com
ramon@smallbiztechnology.com

Tech & Biz Twitter Nuggets- http://www.twitter.com/ramonray
More Tech & Biz Facebook - http://www.facebook.com/smallbiztechnology

Announcing the first ever East Village Gift Guide

A guide to the best holiday gifts from East Village Merchants
The East Village Gift Guide presents 36 unique items found locally that make great gifts for this
holiday season. These items are all from independently owned businesses throughout the East
Village, a neighborhood on the Lower East Side of Manhattan.

This guide -­ the first of its kind -­ is the product of the East Village Community Coalition (EVCC),
an organization at work to recognize, sustain, and support the architectural and cultural
character of the East Village. For seven years, EVCC has been producing the “Get Local! Guide
to East Village Shops,” a printed directory of over four hundred shops in the East Village. The
East Village Gift Guide expands upon this “Get Local!” campaign by helping people shop locally
during the holidays. The gift guide invites East Villagers, New Yorkers and visitors from all over to
discover stores of the East Village and their one-­of-­a-­kind products, all of which distinguish East
Village shops from the rest of the city.

In addition to showcasing the unique items from East Village merchants, this guide is one of the
first initiatives aimed at increasing the collaboration between local businesses. Over the last
three months, EVCC has been working with small business owners to form a
neighborhood-­wide merchants association that will help promote and advocate for the small and
independent businesses in the East Village. Using funding from AvenueNYC, a program of the
NYC Department of Small Business Services, and the Manhattan Chamber of Commerce,
EVCC is working to develop a merchants association. A Steering Committee of local merchants
has given the association its official name, the East Village Independent Merchants Association
(EVIMA), and is planning the inaugural meeting for EVIMA at the end of January.

Copies of the East Village Gift Guide are available in both digital or print formats. Digital copies of
the guide are available at this link or on EVCC’s website. Printed copies are available at
participating stores (listed below), EVCC’s office (143 Avenue B) and the FUNKtional Art Fair, a
holiday fair located La Plaza Cultural Community garden at Avenue C and 9th Street. Visit one of
these locations to pick up your very own gift guide!

If you would like to know more about EVCC and EVIMA or help us spread word about the guide,
please visit this website, www.evccnyc.org, or send an email to info@evccnyc.org.

List of Participating Merchants:

1. Barbara Feinman Millinery
2. Dusty Buttons
3. rena REBORN
4. Random Accessories
5. Cloak & Dagger
6. Sailor Rose
7. The Wild Ivy
8. Marjory Warren Boutique
9. Fragance Shop
10. Enzs
11. Dejavu Boutique
12. Eileen Fisher
13. Gallery Vercon
14. CADET
15. RUDY VOLCANO
16. Russian & Turkish Baths
17. Yoga East
18. Shamburger’s Chinese Hawaiian Kenpo Academy
19. Parlor
20. Swing Organic Hair Salon
21. Ruff Club
22. Social Tees Animal Rescue
23. Pink Olive
24. Goat-­Milk Kidwear
25. Jane’s Exchange
26. Dinosaur Hill
27. Keshav Music Imports
28. Tinkersphere
29. Pageant Print Shop
30. A Repeat Performance
31. Anthony Aiden Opticians
32. Dorian Grey Gallery
33. Love Shine
34. Butter Lane Bakery
35. Physical GraffiTEA
36. Clayworks Pottery

The East Village Community Coalition works to recognize, support, and sustain the built and
cultural character of the East Village. This character includes a diverse population;; low-­rise,
human scale blocks and affordable buildings with historic and architectural significance;; a
multitude of community gardens;; indigenous stores and businesses;; and the neighborhood’s
history and ongoing tradition as a haven for those seeking freedom to express artistic, creative,
and social concerns.

MCC Promotes Local Businesses on Small Business Saturday!

2nd Ave. Business, Marianne Vera Salon, set for Small Business Saturday! #ShopSmall Get out there on Nov. 30th and shop local! Where will you shop on Small Business Saturday?

Manhattan Chamber of Commerce (MCC) President Nancy Ploeger Kicks Off Promotion for Small Business Saturday November 30, 2013

Campaign focusing on supporting businesses in the 2nd Ave. subway construction zone

Small Business Saturday, which falls between Black Friday and Cyber Monday, is back on 2nd Avenue in the subway construction zone!

“We know that small businesses are the building blocks that create the identity of a neighborhood and this is a day to support the local heroes that create jobs, boost the economy and preserve neighborhoods around the country. American Express created Small Business Saturday in 2010 in response to small business owners’ most pressing need: more demand for their products and services,” states MCC President Ploeger. “We continue to promote the merchants and restaurants along the 2nd Ave. corridor and Small Business Saturday is another great way to bring new and returning customers to these stores.”

Businesses, such as The Comic Strip Live, Marianne Vera Salon, Next Cleaners, Eneslow Shoes & Pedorthics, New York Paint & Hardware and Leonards’ Market, are participating so far and many more are expected to sign up this week! Starting Monday November 25th, MCC is handing out Small Business Saturday tote bags, balloons, bumper magnets and welcome mats to merchants and promoting the day to MCC members and subscribers as well as upper east siders through social media outreach, through emails and on the MCC website.

We hope consumers will join the forces of over 100 million Small Business Saturday shoppers this November 30th!

Make sure to Shop Local on 2nd Avenue or in your own neighborhood and be a part of Small Business Saturday!

The time is NOW to start broadcasting the message from the rooftops (or through your website, social media and communications streams.) I have included suggested messaging below to make it easy for you to spread the word.

Sample Facebook Posts:

• Nov 30 is Small Business Saturday®! Mark your calendar to #ShopSmall on the big day and support your favorite small businesses. You can also head to ShopSmall.com for more ways to get involved. 
• Help your business stand out on Small Business Saturday®. Head to ShopSmall.com to create free marketing materials to help you promote your business and get noticed on Nov 30. 
• Nov 30 is Small Business Saturday®! Whether you’re a shopper or a small business owner, be sure to mark your calendar for the big day and head to ShopSmall.com for more ways to get involved. 

Sample Twitter Messages:

• Small Business Saturday is Nov 30! It’s the big day to #ShopSmall and support your local businesses. http://amex.co/GzHJn3
• Help attract customers on Small Business Saturday, Nov 30. Get marketing materials for your business: http://amex.co/GzHJn3#ShopSmall 
• Everyone mark their calendars for Small Business Saturday, Nov 30! The big day is almost here! #ShopSmall http://amex.co/GzHJn3

Hurricane Sandy Anniversary

On this anniversary of Hurricane Sandy, we are encouraging all business to Expect the Best, Plan for the Worst and be prepared. MCC has launched a checklist of tasks to prepare you, your employees and your business for the worst. Check out the list and circulate to your fellow business associates. Be prepared! http://www.manhattancc.org/about_mcc/Disaster_Preparedness.aspx

NYC Business - Quarterly Progress Report

Dear Business Owners, Employees, Customers, and New Yorkers,

In the last 90 days, Mayor Bloomberg’s Business Customer Service Initiative has continued to make New York City government more effective and efficient in helping businesses open, operate, and expand.

Take a look at the Quarterly Progress Report for July - September 2013 here.

MCC Small Business Recovery Fund Grant to Carter Weiss

MCC Small Business Recovery Fund Grant given to Carter Weiss whose business is located on Front Street at the South Street Seaport. His consulting business ground to a halt after Sandy due to flooding and no power, etc.

MCC Small Business Recovery Grant to Central Park Bicycles

Savas Sevil was forced to move his bike shop from South Street Seaport area after Sandy as he could not get in his building and there were no customers to rent his bikes. He moved to W. 58th St. in the hope of keeping his business alive, expanded his service offerings and hopes to make a go of it. He hopes the new bike lanes and bike share program will also boost his business with more riders wanting to enjoy the spring and summer riding!

Too small to fail

This article is by MCC Guest Blogger Gil Effron of Strategies for Growth.


Remember not too long ago when financial institutions were in trouble and Washington and the mainstream media kept telling us they were “too big to fail” – in other words, too important to allow to fail?

I think they got it all wrong. When it comes to small business and the people who own and operate those small businesses, I firmly believe that they are “too small to fail” – but not because of any government intervention, media hype, or bailout.

The majority of business owners I know are extremely resilient. They know success and they know failure. They know that hard work has its rewards.

They are also stubborn. The idea of failure or defeat does not exist in their vocabulary as evidenced by the fact that if a business owner fails today, but he or she will quickly be up and running in a new business tomorrow – having learned from his or her mistakes and ready to write a new and more successful chapter.

So I chuckle when I hear the phrase “too big to fail” because unlike the large banks and financial institutions that turn to government for bailouts, those of us in small business turn to our own resources to find a way to make it work. No deep pockets; no bailout. Just creative thinking and strong desire to prove to ourselves we can do it.

Needless to say this is my roundabout way to remind you that each May the Federal government recognizes small business and its impact on American culture and economy by honoring our 30,000,000-plus small businesses and the amazing people who run them.

As a part of National Small Business Week, the U.S. Small Business Administration is setting aside May 16 through May 20 as National Small Business Week. A weeklong conference in Washington, D.C. will feature lectures, events, and speakers to educate, inspire, and to highlight the contributions of small business owners.

While I think this recognition is nice, I honestly don’t think it’s enough. Owners of small business need recognition from us.

So I think we need to find a way to recognize owners of small business. Let’s rename “Small business week” and call it “Take a business owner to lunch week.” And I think we ought to allow the owners of those small businesses to choose the restaurant.

This entry was posted in Gil Effron and tagged business owners, small business. Bookmark the permalink.

$19 Million in Grants to be Made to SBA Resource Partners To Support Hurricane Sandy Small Business Recovery

WASHINGTON— Small businesses rebuilding in the aftermath of Hurricane Sandy will get both immediate and long-term help laying a foundation for economic recovery and resiliency thanks to expanded services funded by a $19 million emergency appropriation.

Small businesses can take advantage of free expanded counseling, training and technical assistance from the U.S. Small Business Administration’s resource partners—the Small Business Development Centers (SBDCs), SCORE, and Women’s Business Centers (WBCs).

“This is yet another example of placing proven, effective tools in the hands of America’s small business owners who are recovering from Hurricane Sandy,” said SBA Administrator Karen Mills. “SBA’s extensive resource partner network continues to play a critical role in fostering economic development in those hard-hit areas, and I’m pleased those resources will be made accessible on a broader scale to help those who need it most.”

Funding was made available as part of a package approved by Congress in January to meet the demand for SBA assistance. Through these funds, SCORE, SBDCs and WBCs can help provide long-term small business rebuilding strategies, as well as help small businesses through the SBA lending process.

In the first phase of counseling and technical assistance funding, $5.8 million is being distributed to SBA resource partners in 11 states--Connecticut, Delaware, Massachusetts, Maryland, North Carolina, New Jersey, New York, Pennsylvania, Rhode Island, Virginia, West Virginia--and Puerto Rico.   

The SBDC and WBC funding awards are as follows: 

Connecticut $527,000 Delaware $118,000

Massachusetts $76,000 Maryland $36,000

North Carolina $18,000 New Jersey $1,385,000

New York $2,394,000 Pennsylvania $410,000

Rhode Island $71,000 Virginia $7,000

West Virginia $46,000 Puerto Rico $19,000

SCORE will receive $704,000 to fund its chapters in the affected areas. During the second phase of funding, $13.1 million will be issued through these resource partners to provide long-term small business recovery and expansion, with a focus on building creative community-based partnerships.

SBA makes low-interest, taxpayer-backed disaster loans to homeowners, renters, businesses and non-profit organizations of all sizes. More information about the disaster assistance program is available at www.sba.gov/disaster. 

As of April 11, the SBA has approved disaster loans totaling $1.8 billion to individuals, and $279 million to businesses and non-profit organizations recovering from Hurricane Sandy.

SBA’s resource partners provide counseling assistance to disaster survivors, including business advice for affected businesses and assistance in applying for an SBA disaster loan. In addition, they staff recovery centers and provide guidance to help with businesses recovery and disaster preparedness.

MCC Small Business Recovery Fund Grant to Jean Doumbe, My Nutri Fitness

Jean Doumbe, Manager, My Nutri Fitness, poses with MCC President Ploeger as he accepts the Recovery Fund Grant. Jean's business was closed for 19 days and now he and his colleagues are trying to find new locations for their business.

Superstorm Sandy Relief Summary re Federal Funding from HUD (US Housing and Urban Development Agency) As of April 5, 2013

(Information submitted by The New York Grant Company, www.nygrants.com, info@nygrants.com)

In March 2013, President Obama signed Congressional legislation entitled H.R. 152, the Disaster Relief Appropriations Act of 2013. The Act authorizes the federal government to appropriate approximately $50.7 billion in relief funding in the wake of Superstorm Sandy.  

This $50 billion relief package will, in turn, allocate funds to various federal agencies for disbursement:
       
$2 billion for the Federal Highway Administration to repair roads and bridges

$5 billion for the Army Corps of Engineers for dredging, infrastructure, and other flood prevention and control efforts

$11 billion for the Federal Transit Administration to repair the region’s transportation systems, including MTA repairs
$11.5 billion for FEMA’s Disaster Relief Fund for both individual assistance and repair of damaged public property

$16 billion for HUD spending on expenses relating to recovery, restoration of infrastructure, housing, and economic revitalization.

The $16 billion in HUD funding is the largest allocation of federal funds, and the first tranche of $5.4 billion has been allocated as follows:

$1,772,820,000 to NYC

$1,713,960,000 to NYS
$1,829,520,000 to NJ

$ 71,820,000 to CT
$ 3,240,000 to RI

$ 8,640,000 to MD

TOTAL $5,400,000

Pursuant to HUD rules, the above jurisdictions have each presented Action Plans as to their proposed use of funds. The Action Plans are now subject to public comment, and after the public comment period (30 days) has ended, HUD will approve the Action Plans, subject to any modification, and proceed to authorize the release of funds to the jurisdictions.

It is anticipated that funding will start to roll out beginning in the summer of 2013. Jurisdictions have strict deadlines both internally and externally and must expend the HUD funds within 2 years. There are also very strict guidelines for compliance, including documentation, approvals, verifications, reporting and auditing. All funding is subject to strict and continuous auditing, with HUD reserving the right to recapture funds in appropriate cases.

Both the New York City and New York State Action Plans, now published and available online, provide details about the City’s and State’s intended uses for the HUD funds.

New York City has earmarked its initial $1.77 billion allocation as follows:

$720 million for housing
$325 million for business relief, including:
$80 million in grants and loans to small business
$100 million in “resiliency investments” (eg, to move building mechanical equipment above grade)
$100 million in a “neighborhood game changer investment competition”
$45 million in an “infrastructure and building resiliency technology competition”

$400 million in infrastructure repairs and improvements

$327 million in resiliency investments (TBD)

5% for administration

15% for planning.

New York State has earmarked its initial $1.72 billion allocation as follows:

$788 million for housing (including the voluntary home buy-out program)

$415 million in business relief, including funds for
Grants and loans
Consulting and mentoring
Coastal fishing grants
Tourism grants
Tourism marketing grants

 $30 million in resiliency and retrofitting funds for energy-related projects (eg, emergency generators, energy back up systems)

$25 million in community planning and redevelopment funds.

Each of the City and State Action Plans spells out more specifics about the above proposed expenditures. However, precise program rules, eligibility criteria, application forms, documentation requirements and other guidelines are still under development. We can expect to see these over the course of the summer. Each of the above pools of funds will have their own specific program rules and application process.

To a large extent, the HUD funds for business and residential programs will be heavily “programmed” as-of-right, with entitlements based upon criteria and rules which the jurisdictions will develop in concert with HUD administrators. To a more limited extent, certain of the programs will be discretionary. For example, the City’s fund of $100 million for resiliency investments will be administered by EDC, which must pre-approve any plans by an applicant prior to funding. Such resiliency investments can be made for up to $2 million per project, with discretion to award higher amounts if EDC grants approval. Each project will be reviewed case-by-case.

Once the initial $5.4 billion in HUD funding has started to roll out, jurisdictions will then apply for further rounds of funding for the remaining pool of $11.6 billion in additional HUD funding authorized by Congress and the President.
We will continue to monitor these developments carefully. We are fully mobilized to pursue all applications once the programs are officially in place and once the funds are available to applicants. As in the past, we will focus our efforts on businesses which are eligible for relief.         

The New York Grant Company team has 11 years of experience in processing HUD grants and HUD funding. This grows out of our deep experience in helping with the recovery and rebuilding of lower Manhattan businesses after 9/11. The primary source of relief at that time (and continuing even to today) is HUD grant funding authorized by Congress. Our team has processed literally hundreds of applications for HUD funding, and we are therefore ideally poised to assist with the rollout of Superstorm Sandy relief funds now.

MCC Small Business Recovery Fund Grant to Toto's Restaurant

Staten Island Chamber President & CEO Linda Baran presents a $500.00 grant check to John Toto of Toto's Restaurant from the Manhattan Chamber of Commerce Small Business Recovery Fund for Sandy Relief. We wish him all the best as they continue to recover and rebuild.

MCC Small Business Recovery Fund Grant to Bedazzle Dance Studio Inc.

Staten Island Chamber President & CEO Linda Baran presents a $500.00 grant check to Christine Mignone of Bedazzle Dance Studio Inc. from the Manhattan Chamber of Commerce Small Business Recovery Fund for Sandy Relief. We wish them all the best as they continue to recover and rebuild.

SBA Extends Deadline to April 13 for Hurricane Sandy Survivors in New York

ATLANTA – The U. S. Small Business Administration has extended the deadline for Hurricane Sandy survivors in New York to return applications for physical damage to April 13, 2013.  

Survivors are encouraged to register with the Federal Emergency Management Agency at
800-621-FEMA (3362), TTY 800-462-7585 and return completed applications to the SBA before the deadline. Homeowners and renters unable to obtain an SBA low-interest disaster loan may be referred to FEMA for grant consideration.  

SBA’s Customer Service Representatives are available at the recovery centers located throughout the area to provide one-on-one assistance to survivors in completing their applications.

Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at https://disasterloan.sba.gov/ela.

Additional details on the locations of Recovery Centers and the loan application process can be obtained by calling the SBA Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or by sending an e-mail to disastercustomerservice@sba.gov.  

The filing deadline to return applications for physical property damage is April 13, 2013. The deadline to return economic injury applications is July 31, 2013.

For more information about the SBA’s Disaster Loan Program, visit our website at www.sba.gov.

Wells Fargo commits to lending $55 billion to women-owned businesses by the year 2020

SAN FRANCISCO, March 8, 2013 – Wells Fargo & Company (NYSE: WFC), America’s No. 1 small business lender1 and a leading lender to women- and diverse-owned businesses, today announced a commitment to lend a cumulative total of $55 billion to women-owned businesses in the U.S. by the year 2020, updating its lending commitment first established in 1995. The announcement will be made by Lisa Stevens, Wells Fargo lead executive for Small Business and West Coast Regional Banking president, at the Hispanas Organized for Political Equality (HOPE) 22nd Annual Latina History Day conference in Los Angeles.

March is National Women’s History Month, and Wells Fargo has a rich history of working with women business owners and providing them access to capital and financial services. Since introducing the women’s lending commitment 18 years ago, Wells Fargo has provided more than $38 billion in capital to women business owners, a group that grew in size by more than 20 percent from 2002 to 2007, according to the latest Census data. Today, approximately 30 percent of businesses in the U.S. are owned by women, according to the National Women’s Business Council.

“Women-owned businesses are among America’s fastest growing segments, and we are honored to support their role in shaping the future of small business,” said Stevens. “As a leader in lending to women, Wells Fargo is dedicated to helping women succeed financially — in business and personally.” 

Wells Fargo’s first lending commitment in 1995 established a goal to lend $1 billion to women business owners over three years. Fueled by the continued growth of women business owners, the goal was increased three times, most recently in 2003.


In addition to the lending goal, Wells Fargo supports numerous outreach efforts to build relationships with women business owners and help them to succeed financially. Wells Fargo is a proud supporter of the National Association of Women Business Owners (NAWBO) and the Women Presidents’ Organization, as well as several other organizations focused on the education, growth and advancement of women business owners. Wells Fargo provides the full array of financial products and services to satisfy all of the financial needs of women-owned businesses, such as banking, business loans and lines of credit, credit cards, payroll, merchant services, insurance, retirement planning, and online resources.

For an example of how Wells Fargo helped meet the financing needs of one woman-owned small business, see the story of GLAMGLOW, a Los Angeles-based consumer products company owned by Shannon Dellimore.

About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.4 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet (wellsfargo.com), and has offices in more than 35 countries to support the bank’s customers who conduct business in the global economy. With more than 265,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 26 on Fortune’s 2012 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially. 

About Wells Fargo Small Business 

Wells Fargo has loaned more money to small businesses in the United States than any other bank for 10 years running (based on 2002-2011 Community Reinvestment Act government data) and is a leading lender to women- and diverse-owned businesses. Wells Fargo provides a wide range of financial solutions to meet the needs of business owners nationwide. Through the Wells Fargo Business Insight Resource Center, business owners can access an informative selection of videos and articles featuring expert advice and best practices. For more information visit wellsfargo.com/biz or call the National Business Banking Center at 1-800-CALL-WELLS.

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¹ Based on Community Reinvestment Act (CRA) government data (2002-2011).