Millions in grants from Wells Fargo going to minority-owned businesses in SC

COLUMBIA, SC (WOLO)– To help small businesses recover from COVID-19, nearly $3 million in grants are going to help minority-owned businesses in South Carolina. These grants are from Wells Fargo and a part of its ‘Open for Business Fund’ program. The program focuses on helping diversely owned businesses and entrepreneurs recover and rebuild after the COVID-19 pandemic.

“The Open for Business Fund enlists the expertise of organizations like the South Carolina Community Loan Fund, CommunityWorks and The CLIMB Fund to urgently assist small business owners with capital and technical assistance so they can preserve local jobs in some of the most negatively impacted communities,” said Wells Fargo Community Relations Senior Consultant Kimberly Davis. “By working with these organizations and other CDFIs, we can ensure that local minority-owned small businesses receive the resources they need to keep their businesses open.”

Lieutenant Governor Pamela Evette says small businesses are the backbone of South Carolina’s economy, and this money is a helping hand in a time of need. Other small business owners who have directly benefited from Wells Fargo’s ‘Open Business Fund’ grants also spoke of their experiences at the event.