Wells Fargo proudly supports more than 150 CDFIs of all sizes across the country. We provide tailored investment and debt strategies to support CDFIs’ efforts in both rural and urban communities to finance affordable housing, community facilities, and small and micro businesses.
- Equity equivalent (EQ2) investments: Low-rate, long-term, unsecured, subordinate debt
- New Markets Tax Credit program: Equity and debt investments for commercial development in low-income areas, with reduced borrowing costs for non-profits
- Senior debt: Shorter-term, floating-rate for use as core lending capital by larger CDFIs
- Structured debt: Layered, special purpose funds sponsored by CDFIs
The aim of the Wells Fargo NEXT Awards for Opportunity Finance is to propel high-potential CDFIs to a next level of growth, success, and staying power.
Director of Equity Equivalent Investments
Director of New Markets Tax Credits
Wells Fargo has committed $75 million to CDFIs across the country through the Wells Fargo Works for Small Business®: Diverse Community Capital program. The program makes available $50 million in lending capital and $25 million in grant capital to be disbursed over three years. See the list of round two grant and lending capital recipients. Round 3 is now closed. Round 4 will open May 1.
- Grant Capital. Available to CDFIs to build their financial, operational, and human capacity to serve diverse small businesses.
- Debt Capital. Available to CDFIs to build their lending capital to serve diverse small businesses. Financing will include senior debt and subordinated debt.
- Social Capital. The program offers activities, such as mentorship and peer learning, to build effective support networks and social infrastructure among CDFIs for the purpose of increasing lending to diverse small businesses and is offered through Opportunity Finance Network.
- Read the program guidelines (PDF) to learn the full value this program brings and find out if you are an eligible CDFI.
- Find answers to frequently asked questions (PDF).
- Visit the Wells Fargo Works online resource center to learn about the wide range of products, resources, and guidance we offer to small businesses to help them take the next step toward their goals.
Helping small businesses start, stabilize, and grow
A math tutoring company in California stays afloat – and expands nationally – thanks to help from a financial institution that Wells Fargo recently awarded more than $2 million in lending capital and grant funds.
Hope Enterprise Corporation
This nonprofit in Jackson, Mississippi, will use a $2 million grant from Wells Fargo to support commercial lending, outreach, and more for minority- and women-owned small businesses.