RALEIGH— Wells Fargo signed on to be Carolina Small Business Development Fund’s (CSBDF) Title Sponsor for fiscal year 2022. Carolina Small Business Development Fund is a statewide, nonprofit Community Development Financial Institution (CDFI) with a mission to provide financial capital, technical assistance, and policy research to support small businesses. As CSBDF’s Title Sponsor, Wells Fargo’s contributions further the organization’s vision of creating economic opportunity for all.
“Carolina Small Business Development Fund is passionate about the work they do and who they do it for,” said Suzie Koonce, Wells Fargo Community Relations Senior Consultant for Social Impact and Sustainability. “Wells Fargo shares their commitment to North Carolina’s small business owners and entrepreneurs, and we’re proud to be their 2022 Title Sponsor.”
Wells Fargo’s sponsorship provides support for each of CSBDF’s annual events, which includes their Small Business Awards, their Hispanic Heritage Month celebration, and Black Entrepreneurship Week. In addition, Wells Fargo’s contributions supports CSBDF’s Digital Learning Academy (DLA), which is an online platform that provides free courses from expert practitioners on a range of business development topics, like financial management, marketing, and capital access.
“This year, Wells Fargo’s support of the Digital Learning Academy will result in the development of 15 new business assistance courses and has helped us engage and deliver our DLA curriculum to more than 300 enrollees,” said CSBDF Director of Development and Strategic Partnerships Amanda Sorrells.
For the 2022 Small Business Awards, which was held during Small Business Month this past May, Wells Fargo sponsored the Change Agent of the Year award, which was presented to Edmund Washington and Tracey Greene-Washington. The Charlotte-based entrepreneurs own two locations of No Grease, which is a Black-owned barbershop franchise, and they were named the Change Agents of the Year in recognition of how they support the entrepreneurial endeavors of their staff and uplift other local entrepreneurs.
For CSBDF’s Hispanic Heritage Month celebrations later this fall, Wells Fargo’s support as Title Sponsor translates to an investment in providing access to business development resources to Latino entrepreneurs in Charlotte and Asheville. “Latino entrepreneurs often face more hurdles when they’re trying to build or expand their businesses, and Wells Fargo’s support ensures that we’re able to help overcome many of those barriers to access,” said Carlos Liriano, director of Programa Empresarial Latino, CSBDF’s Latino entrepreneurship development program. Wells Fargo’s investment in CSBDF also provides business development resources and other supports to celebrate and empower Black small businesses during CSBDF’s Black Entrepreneurship Week, which is slated for February 2023.
“The partnership between Wells Fargo and Carolina Small Business Development Fund means a lot to me personally, as I get a front row seat to all the good work that CSBDF is doing, and all the different ways Wells Fargo empowers it,” said Rod Banks, Wells Fargo Vice President & Senior Community Relations Consultant, and CSBDF Board Member.
Wells Fargo has supported CSBDF for about a third of the organization’s 32-year-old history and has invested more than $4 million through sponsorships and grants.
“When small businesses succeed, everyone benefits. Wells Fargo’s generous support and belief in our shared mission and values doesn’t just mean that the entrepreneurs we serve will feel the waves of that support—it means that everyone in the communities surrounding those small businesses will feel that impact too,” said CSBDF President & CEO Kevin Dick. “Thank you, Wells Fargo, for all you do for CSBDF and for all you do for communities across our state.”
About Carolina Small Business Development Fund (CSBDF) Founded in 1990, Carolina Small Business Development Fund is a nonprofit and certified Community Development Financial Institution (CDFI) that fosters economic development in underserved communities through access to capital, business services, and policy research. Since 2010, CSBDF has contributed more than $85 million through 1,100 loans and 1,100 grants to dedicated small business across North Carolina, helping to create or retain more than 4,700 full-time jobs.
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