First published in the Dec. 16 print issue of the Outlook Valley Sun.
By Angela Yim-Sullivan
Wells Fargo Commercial Banking
Over the course of the pandemic, Wells Fargo has been connecting with small and large businesses to help them navigate a new normal.
This includes helping business owners understand their financing options and adjust business plans resulting from supply chain constraints.
Wells Fargo is also investing heavily in digital capabilities with same-day payment solutions, such as Disbursements with Zelle, to keep cash flowing and create a simpler, more streamlined banking experience.
Once the pandemic ends, many companies will continue with these digital payment solutions as they experience increased efficiency and enhanced fraud controls.
Wells Fargo is also stepping up to provide critical philanthropic investments as we work together to create an equitable economic recovery in Los Angeles County.
In July 2020, Wells Fargo launched the Open for Business Fund, an approximately $420 million small business recovery effort to help America’s entrepreneurs reopen and rebuild.
The Open for Business Fund supports community development financial institutions and nonprofits that serve small businesses by providing capital, technical assistance, and long-term resiliency support with emphasis on African American, Latino, Asian American, Pacific Islander, Native American, and Alaska Native entrepreneurs, among others.
In L.A. County, more than $9 million in commitments have been made to nonprofit organizations supporting these efforts.
As COVID-19 continues to create economic challenges for Los Angeles County businesses, Wells Fargo is committed to assisting businesses find their way.
For more information, contact Angela Yim-Sullivan, Wells Fargo’s L.A. Metro Commercial Banking market executive. She can be reached at email@example.com or (213)253-6344.