Wells Fargo Joins National Black MBA Association (NBMBAA) to Recognize Entrepreneurial Excellence
San Francisco — June 15, 2007
Wells Fargo & Company and the National Black MBA Association (NBMBAA) have joined together to introduce the NBMBAA/Wells Fargo Entrepreneur Excellence Award - honoring entrepreneurs and businesses that demonstrate vision, leadership, innovation and perseverance. The winner will be recognized at the 29th Annual National Black MBA Association Conference, to be held September 11-16 in Orlando, FL. "The African-American community's vibrancy is dependant on the energy, innovation and passion of its entrepreneurs and this award celebrates that," said Barbara Thomas, president & CEO of the NBMBAA. "As we pay tribute to these incredible visionaries who provide jobs, resources and inspiration for our community, we challenge them to continue to build and inspire social, financial, personal and professional wealth." To be considered for the award, the nominees must be: current NBMBAA members, or nominated by a current NBMBAA member; 18 years of age or older; and African American. The nominee must have owned the business for at least three years and currently own more than 51 percent of the business. The nominating NBMBAA member and the winning entrepreneur will each receive prize packages worth $5,000 that include three months of NBMBAA NtenialSM executive coaching; a NBMBAA Lifetime Membership; two full registrations to the NBMBAA Leadership Institute, a professional and personal development program, and other prizes. The nominating chapter will receive a cash grant of $5,000. All three winners will be honored at the 2007 Annual NBMBAA Conference during the Entrepreneur Plenary Session. "Wells Fargo is proud to sponsor this award with the NBMBAA and looks forward to recognizing outstanding leaders," said Brenda Ross-Dulan, senior vice president and national spokesperson for Wells Fargo's African American Business Services program. "We share the NBMBAA vision to empower, encourage, and equip African American entrepreneurs and our community with the resources that will help them succeed financially- in business and personally." Current NBMBAA members can nominate a deserving entrepreneur by downloading an application at www.nbmbaa.org. Self-nominations will also be accepted. Applications must be postmarked by July 9, 2007. All applications will be reviewed by a committee of representatives from NBMBAA and Wells Fargo. The winners will be notified in August 2007 prior to the announcement at the NBMBA 29th Annual Conference and Exposition. Since 1998, Wells Fargo's African American Businesses Services program has provided outreach and education resources to help African American business owners increase their access to capital and other financial services. The program is dedicated to making financial literacy and in-language resources available through seminars and community activities, and has a publicly- stated goal to lend $1 billion by 2010 to African American-owned businesses. To date, Wells Fargo has loaned over $826 million to thousands of African American owned businesses across the nation. For more information about Wells Fargo's African American Business Services program, please visit www.wellsfargo.com/biz/aabs. About National Black MBA Association Established in 1970, the National Black MBA Association (NBMBAA) is dedicated to creating partnerships that result in increased intellectual and economic wealth in the black community through its five channels of engagement: education, career, leadership, entrepreneurship and lifestyle. With 40+ chapters, a membership base of more than 6,000, and over 400 corporate partners, the NBMBAA provides access to its constituents through services such as the Annual NBMBAA Conference, Local Empowerment Initiatives and other programs. The NBMBAA Conference is the nation's largest professional African American exposition of its kind. To learn more about the NBMBAA, please visit www.nbmbaa.org. About Wells Fargo Wells Fargo & Company is a diversified financial services company with $486 billion in assets, providing banking, insurance, investments, mortgage and consumer finance through more than 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." Providing financial products and services to more than one and a half million businesses with annual sales up to $20 million in all 50 states, Puerto Rico and Canada, Wells Fargo is America's #1 small business lender in total dollar volume according to the most recent Community Reinvestment Act (CRA) data (2005). The second largest national Small Business Administration (SBA) lender in dollars, Wells Fargo is an SBA Preferred Lender in 28 states and the District of Columbia, and originated 4,937 loans (more) (5) for $578 million in 2006. Its diverse business services programs provide outreach and education to women, African American, Latino, and Asian business owners about financial services. Since 1995, Wells Fargo has loaned more than $30 billion to women and diverse business owners. For more information, please visit www.wellsfargo.com/biz.