Community Development Financial Institutions

Diverse Community Capital

Building the capacity of CDFIs to support small businesses

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

Wells Fargo NEXT Awards for Opportunity Finance logo Wells Fargo NEXT Awards for Opportunity Finance

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.

Megan Teare
Director of Equity Equivalent Investments
megan.g.teare@wellsfargo.com
612-316-0512

Lee Winslett
Director of New Markets Tax Credits
lwinslet@wellsfargo.com
619-699-3037

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.

Program components

  • 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.

Previous recipients

Getting started

Helping small businesses start, stabilize, and grow

Arithmetic Solutions

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.

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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.

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