Funding to benefit diverse Chambers of Commerce: U.S. Hispanic Chamber of Commerce Foundation, U.S. Black Chambers, Inc., U.S. Pan Asian American Chamber of Commerce and National Gay & Lesbian Chamber of Commerce
HOUSTON–(BUSINESS WIRE)–Wells Fargo, America’s leading small business lender*, and the U.S. Hispanic Chamber of Commerce (USHCC) Foundation announced today a $1.2 million investment spanning two years. The majority of the funding will be used to establish training opportunities for diverse-owned small business leaders across the nation. The investment is part of Wells Fargo’s ongoing commitment to train leaders of diverse-segment chambers of commerce that includes more than $6 million in grants and sponsorships since 2003.
“The USHCC commends Wells Fargo for their continued investment in minority-owned small businesses, demonstrating their unwavering commitment to enriching diverse communities across America,” said USHCC President & CEO Javier Palomarez. “Wells Fargo’s support makes it possible for the USHCC Foundation to provide our Chamber Training Institute (CTI), among other programs and grants. CTI is absolutely essential to our local chambers and makes a direct impact in the lives of entrepreneurs across the country. We look forward to growing our strong alliance with Wells Fargo.”
The $1.2 million total investment, announced at the USHCC 2015 National Convention, will fund micro-grants, a leadership training impact study and the expansion of the Chamber Training Institute (CTI), a program designed in collaboration with the University of Notre Dame’s Mendoza College of Business. The CTI program develops and empowers diverse chamber leaders while providing unique educational opportunities on how to grow and build their chamber for the benefit of its small business community members. Additionally, the CTI is one part of Wells Fargo’s four-point plan, introduced earlier this year to help diverse-owned small businesses become credit-ready, access credit and achieve financial success.
National Chambers Key to Driving Diverse Leader Development
The Chamber Training Institute was expanded this year to include chamber leaders from the U.S. Black Chambers, Inc. (USBC), U.S. Pan Asian American Chamber of Commerce (USPAACC) and National Gay & Lesbian Chamber of Commerce (NGLCC).
The collaboration and combined effort of the USHCC, USPAACC, USBC and NGLCC will expand the current program during the next two years to allow more than 800 diverse chamber leaders to participate in a free, two-day training. Currently, the CTI program has trained more than 820 leaders across 253 chambers since 2010.
“We are proud to be a stakeholder in the Chamber Training Institute – a brainchild of Wells Fargo and the U.S. Hispanic Chamber of Commerce. It is a noteworthy venture that will drive national economic development and build success for our respective constituents,” said USPAACC National President and CEO Susan Au Allen.
“The U.S. Black Chambers, Inc. supports the Chamber Training Institute by promoting it to our 115 chambers across the nation. Specifically, USBC brought Cassius Butts, the Southeast Regional Administrator of the Small Business Administration to the Chamber Training Institute in Atlanta,” said USBC National President and CEO Ron Busby. “This program has educated our membership on issues in the Hispanic, Asian, and Gay and Lesbian communities and provided a platform for multilateral collaboration.”
“The National Gay & Lesbian Chamber of Commerce is proud to partner with the USHCC in the Chamber Development Institute. This is not only a valuable learning program for our local affiliate chambers across the nation, it’s also another example of how we actively promote all diverse communities working together just as we pledged to do when we founded the National Business Inclusion Consortium,” said NGLCC Co-founder and President Justin Nelson.
Wells Fargo Support for Small Businesses Extends Beyond Training
“We are committed to helping business owners achieve financial success, grow and create new jobs in their communities,” said Jon Campbell, EVP and head of Government and Community Relations for Wells Fargo. “That is why it’s important for us to fund initiatives that aim to help small business leaders serve their communities more effectively. With the support from our partners at the national diverse chambers, this investment will provide dedicated resources to better serve the growth and development of diverse small business owners.”
Wells Fargo has a rich history of serving the small business community. Today, the company serves approximately 3 million of America’s small businesses. In 2014, Wells Fargo introduced Wells Fargo Works for Small BusinessSM – a broad initiative to deliver resources, guidance and products to help business owners achieve financial success. This year, the company expanded the support it offers small businesses by introducing the Business Plan Center, a free online resource. The Center provides step-by-step tools and guidance to help small business owners create a simple, streamlined business plan, along with a Competitive Intelligence Tool that provides business owners with key insight on competitors in their market and industry.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.7 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through 8,700 locations, 12,800 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 36 countries to support customers who conduct business in the global economy. With approximately 266,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 30 on Fortune’s 2015 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Wells Fargo perspectives are also available at Wells Fargo Blogs and Wells Fargo Stories.
About The USHCC
Founded in 1979, the USHCC actively promotes the economic growth and development of our nation’s entrepreneurs. The USHCC advocates on behalf of nearly 3.2 million Hispanic-owned businesses, that together contribute in excess of $486 billion to the American economy, each year. As the leading organization of its kind, the USHCC serves as an umbrella to more than 200 local chambers and business associations across the nation, and partners with more than 240 major corporations. For more information, visit www.ushcc.com.
*Community Reinvestment Act government data, 2002 – 2014