Wells Fargo Provides $5 million to Local CDFIs to Help Small Businesses Impacted by COVID-19

Wells Fargo announced on Friday, Feb. 12, that six New York-based community development financial institutions (CDFIs) have received a combined $5 million from the bank’s “Open for Business Fund” (OFB) to help local small businesses impacted by the economic struggles caused by COVID-19.   Wells Fargo representatives said the bank selected Accompany Capital ($500,000), Greater Jamaica Development Corporation ($500,000), Harlem Entrepreneurial Fund ($400,000), NDC Community Impact Loan Fund ($1 million), Pursuit Community Finance ($1 million) and Renaissance Economic Development Corporation ($1.6 million) as part of a nationwide small business recovery effort.   Representatives said the new Wells Fargo grants to


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