ATLANTA (AP) – Wells Fargo on Friday announced a $20 million donation as part of an initiative to help Atlanta small business owners.
The details were announced at a news conference in Atlanta, where company officials said the money will help small business owners to own more of their business assets, including property and equipment. It will also enable them to make physical upgrades to their businesses, officials said.
“This Wells Fargo grant program gives small business owners the opportunity to grow and expand by owning more of their own assets – which can be a game changer for the financial health of any business,” Atlanta Mayor Andre Dickens said in a statement.
The effort involves the company’s Open for Business Fund, which was created in the summer of 2020 to help small businesses stay open during the COVID-19 pandemic, company officials said.
The Open for Business Fund is part of the bank’s efforts to increase economic opportunity for small businesses.