New program supports Latino economic, educational development
SACRAMENTO, Calif., June 17 /PRNewswire-FirstCall/ -- Wells Fargo & Company (NYSE:WFC) today announced a $100,000 grant to the California Hispanic Chamber of Commerce (CHCC), a quarter of which will be used to help establish the new CHCC Foundation. The Foundation will oversee educational scholarships, chamber leadership training courses and economic development programs.
The grant -- announced at the CHCC's legislative conference in Sacramento -- reflects Wells Fargo's longstanding commitment to the work of the CHCC, and to Latino entrepreneurs nationwide. Since 2000, Wells Fargo has given more than $1 million to the CHCC, the largest regional Hispanic business organization in the nation.
"For the past eight years, Wells Fargo has enjoyed a growing and supportive relationship with the California Hispanic Chamber of Commerce," said Tim Rios, Wells Fargo senior vice president of Corporate Community Development and national spokesperson for Wells Fargo's Latino Business Services program. "We're proud to be the first organization to help the California Hispanic Chamber of Commerce launch the CHCC Foundation. This grant illustrates our strong commitment to the Latino business community." "We applaud Wells Fargo's contribution, and are thankful for their continued commitment to this powerful emerging market," said CHCC President & CEO, Joel Ayala. "We're especially thankful for the contribution to the Foundation, which will support the ongoing leadership, education, and economic development efforts of the Chamber and the more than 600,000 Hispanic-owned businesses in California." Since 2000, Wells Fargo, through its Latino Business Services program, has joined with the CHCC to honor and support Latino business owners. Established in 1997, Latino Business Services uses outreach and education to help Latino business owners increase their access to capital and other financial services. Since the program's inception, Wells Fargo has loaned more than $4.7 billion to thousands of Latino business owners nationwide and has a goal to lend $5 billion by 2010.
For more information about Wells Fargo's Latino Business Services, visit http://www.wellsfargo.com/biz/latino.
About Wells Fargo Wells Fargo & Company is a diversified financial services company with $595 billion in assets, providing banking, insurance, investments, mortgage and consumer finance through almost 6,000 stores and the internet (wellsfargo.com) across North America and internationally. Wells Fargo Bank, N.A. is the only bank in the U.S., and one of only two banks worldwide, to have the highest credit rating from both Moody's Investors Service, "Aaa," and Standard & Poor's Ratings Services, "AAA." Wells Fargo is America's #1 small business lender in total dollar volume according to the most recent Community Reinvestment Act data (2006) and the #1 SBA 7a bank lender in total dollar volume. Wells Fargo has loaned close to $36 billion to women, African American, Latino and Asian business owners since 1995. For more information, speak with a Wells Fargo banker, visit wellsfargo.com/biz or call the National Business Banking Center at 1-800-CALL-WELLS.
About CHCC The California Hispanic Chambers of Commerce is the largest regional organization representing the Hispanic business community. The CHCC represents the interests of 600,000+ Hispanic owned businesses and over 60 Hispanic Chambers and business organizations throughout California through advocacy, education, and empowerment. DATASOURCE: Wells Fargo & Company CONTACT: Allison White of Wells Fargo & Company, +1-415-975-6291, Web site: http://www.wellsfargo.com/ http://www.wellsfargo.com/biz/latino
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