SAN FRANCISCO - May 2, 2012
Building upon its history of supporting local communities, Wells Fargo (NYSE: WFC) today announced a $25,000 grant to aid merchants in the Valencia Corridor of San Francisco. The grant will be administered by the Valencia Corridor Merchants Association and the Lower 24th Street Merchants and Neighbors Association, who serve local businesses in the Mission District of San Francisco. Many small businesses in this neighborhood were impacted by a recent wave of vandalism, and these funds will allow for repairs and improvements so that local merchants can reopen for business. Reports estimate that more than 30 businesses were damaged during a recent streak of vandalism, which amount to necessary repairs in the tens of thousands of dollars.
“As San Francisco’s hometown bank, Wells Fargo is passionate about supporting the communities where we live and work, and it’s important to help our local merchants make the repairs they need to reopen for business and serve their customers again,” said Michael F. Billeci, President of Wells Fargo’s San Francisco Bay Region. “Helping small businesses right here in the Mission is a win for everyone in the community.”
“This grant will help our local merchants make much-needed repairs like replacing broken windows, removing graffiti and aiding in the general clean up required to open their doors again,” said Erick Arguello, President of the Lower 24th Street Merchants and Neighbors Association. “It’s encouraging to see this kind of support from Wells Fargo, which has deep roots and a long history in San Francisco. It really shows how much they care about the community.”
“Many small businesses in the Valencia Corridor don’t have the cash reserves to handle unexpected expenses like vandalism,” said Deena Davenport, President of the Valencia Corridor Merchants Association. “Wells Fargo’s generosity will provide timely access to capital to help our merchants open for business again.”
The Lower 24th Street Merchants and Neighbors Association and the Valencia Corridor Merchant Association will manage the grant application process as well as facilitate the distribution of funds. Wells Fargo team members are volunteering their time this week to talk with local merchants who need assistance and encourage them to apply. More information can be found at: http://lower24thstreet.org/
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.3 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 other distribution channels across North America and internationally. With more than 270,000 team members, Wells Fargo serves one in three households in America. Wells Fargo & Company was ranked No. 23 on Fortune’s 2011 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.