A few weeks ago, my company, Wells Fargo, announced a commitment to lend a cumulative total of $55 billion to women-owned businesses in the United States by the year 2020, updating its lending commitment first established in 1995. Since introducing the women’s lending commitment 18 years ago, Wells Fargo has provided more than $38 billion in capital to women business owners.
This great news is another chapter in our company’s long history of supporting diverse communities – including women – since our company was founded in 1852. In fact, in 1868, founder Henry Wells donated property and a sizeable share of his fortune to establish the Wells Seminary for the Higher Education of Young Women, later changed to Wells College, in Aurora, N.Y. It was one of the first American institutions of higher learning for women to offer bachelor’s degrees and it still thrives today.
Today, Wells Fargo is America’s No. 1 lender to small businesses and is a committed supporter of women and diverse business owners. We have a full array of business products and services, including credit cards, loans and lines of credit, deposits, payroll, merchant payment solutions, retirement, and online banking, we are helping women business owners succeed financially.