Wells Fargo announced today that the bank is donating ALL of the bank’s $400 million Paycheck Protection Program processing fees to help small businesses impacted by the ongoing COVID-19 pandemic.
“By donating approximately $400 million in processing fees to assist small businesses in need, Wells Fargo’s Open for Business Fund creates opportunities for near-term access to capital and addresses the road ahead to meaningful economic recovery, especially for Black and African American entrepreneurs and other minority-owned businesses,” said Wells Fargo CEO Charlie Scharf. “Wells Fargo is committed to helping small businesses impacted by COVID-19 stay open and get back to growth.”
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