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Diverse Business Classifications

Supplier Diversity Definitions

 
Wells Fargo recognizes the following supplier diversity groups as part of our supplier diversity process.

Minority Business Enterprise (MBE)Show Details

 
Black/African American Owned Business
Business that is at least 51% owned, operated and controlled by an African American individual(s) with U.S. citizenship. African Americans have origins in any of the black racial groups of Africa.

Asian Owned Business
Business that is at least 51% owned, operated and controlled by an Asian American individual(s) with U.S. citizenship. Asian is the ethnicity of an individual from the Asian Geographical area that is not included in the Asian Indian or Asian Pacific classifications

Asian-Indian Owned Business
Business that is at least 51% owned, operated and controlled by an Asian Indian American individual(s) with U.S. citizenship. Asian Indian is the ethnicity of an individual whose origins are from India, Pakistan or Bangladesh.

Asian-Pacific Owned Business
Business that is at least 51% owned, operated and controlled by an Asian Pacific American individual(s) with U.S. citizenship. Asian Pacific is the ethnicity of an individual whose origins are from Japan, China, Taiwan, Korea, Vietnam, Laos, Cambodia, Philippines, Samoa, Guam, US Trust Territories of the Pacific or the Northern Mariana.

Hispanic Owned Business
Business that is at least 51% owned, operated and controlled by a Hispanic American individual(s) with U.S. citizenship. Hispanic is the ethnicity of an individual whose origins are from any of the Spanish-speaking areas of Latin America or the following regions: Mexico, Central America, South America and the Caribbean Basin.

Native American Owned Business
Business that is at least 51% owned, operated and controlled by a Native American individual(s) with U.S. citizenship. Native American is the ethnicity of an individual whose origins are from American Indians, Aleuts, Eskimos and Native Hawaiians.

Women Business Enterprise (WBE)Show Details

 
Women Owned Business
Business that is least 51% owned, operated and controlled by a female individual(s) with U.S. citizenship.

Disadvantaged Business Enterprise (DBE)Show Details

 
Disabled Owned Business
Any for profit enterprise, regardless of size, located in the United States or its trust territories, which is at least 51% owned, operated and controlled by an individual (s) with a permanent mental or physical impairment that substantially limits one or more of the major life activities and which has a significant negative impact upon the company's ability to successfully compete. The ownership and control shall be real and continuing and not created solely to take advantage of special or set aside programs aimed at minority business development. Due to the absence of a certifying agency for this category of business owners, the DBE must complete an affidavit and provide supporting documentation to be eligible for consideration towards minority participation.

Gay, Lesbian, Bisexual and/or Transgender (GLBT) Owned Business
Business that is at least 51% owned, operated, managed, and controlled by an GLBT person or persons who are either U.S. citizens or lawful permanent residents; exercise independence from any non-GLBT business enterprise; have its principle place of business (headquarters) in the United States; and have been formed as a legal entity in the United States.

Veteran Owned Business
  • Veteran - must not be less than 51%owned by one or more veterans (as defined at 38 U.S.C. 101(2)) or, in the case of any publicly owned business, not less than 51%of the stock of which is owned by one or more veterans; the management and daily business operations of which are controlled by one or more veterans.
  • Disabled Veteran - Sole proprietorship at least 51% owned by one or more disabled veterans or, in the case of a publicly owned business, at least 51% of its stock is owned by one or more disabled veterans; a subsidiary which is wholly owned by a parent corporation, but only if at least 51% of the voting stock of the parent corporation is owned by one or more disabled veterans; or a joint venture in which at least 51% of the joint venture’s management and control and earnings are held by one or more disabled veterans.

Small Business Enterprise (SBE)Show Details

 
Business that meets "small" ownership criteria and Small Business Size Standard for their industry, as defined by the Small Business Administration.

What is a Small Business Size Standard?
A size standard, which is usually stated in number of employees or average annual receipts, represents the largest size that a business (including its subsidiaries and affiliates) may be to remain classified as a small business for SBA and federal contracting programs. The definition of “small” varies by industry.

SBA Certifications*
SBA certifications including 8(a), Small Disadvantaged Businesses (SDB) and Historically Underutilized Businesses (HUBZone) have other criteria that must be met. Please refer to www.sba.gov for a full description of the certification programs and the eligibility requirements.

*Wells Fargo does not accept self certifications. Please refer to your local and state government agencies for the certification process.