Pixel Tracker

Wednesday, January 23 , 2019, 7:58 am | Fair 39º

 
 
 
 

Women’s Economic Ventures Gets Financial Boost to Help Loan Program Growth

Wells Fargo Works for Small Business: Diverse Community Capital program recently awarded a $300,000 grant to Women’s Economic Ventures (WEV).

The funds will be used to support the growth of WEV’s loan program, which provides startup and expansion capital for businesses in Santa Barbara and Ventura counties that are unable to qualify for traditional bank financing.

This month, Wells Fargo & Company announced it has exceeded its initial $75 million commitment for the Wells Fargo Works for Small Business: Diverse Community Capital program by awarding $13 million in lending capital and grants to 19 Community Development Financial Institutions (CDFIs) in the latest round of the program.

The CDFIs, which are nonprofit financial institutions, use the funds to deliver affordable financial products to diverse small business owners who do not typically have access to conventional financing.

“Rural small businesses and their diverse owners have different challenges than their urban counterparts, and we want to be part of a solution that helps remove those obstacles to growth,” said Mike Rizer, director of Community Relations at Wells Fargo.

Women’s Economic Ventures provides training, consulting and loans to help entrepreneurs start, grow and thrive in business. While WEV targets its services toward women, it helps men as well, and provides most services in English and Spanish.

WEV was founded by Marsha Bailey, a nationally recognized advocate for women business owners. She recently completed her tenures on the National Women’s Business Council and as board president of the national Association of Women’s Business Centers.

For more, visit www.wevonline.org.

— Regina Ruiz for Women’s Economic Ventures.

 

Support Noozhawk Today

You are an important ally in our mission to deliver clear, objective, high-quality professional news reporting for Santa Barbara, Goleta and the rest of Santa Barbara County. Join the Hawks Club today to help keep Noozhawk soaring.

We offer four membership levels: $5 a month, $10 a month, $25 a month or $1 a week. Payments can be made using a credit card, Apple Pay or Google Pay, or click here for information on recurring credit-card payments and a mailing address for checks.

Thank you for your vital support.

Become a Noozhawk Supporter

First name
Last name
Email
Select your monthly membership
Or choose an annual membership
×

Payment Information

Membership Subscription

You are enrolling in . Thank you for joining the Hawks Club.

Payment Method

Pay by Credit Card:

Mastercard, Visa, American Express, Discover
One click only, please!

Pay with Apple Pay or Google Pay:

Noozhawk partners with Stripe to provide secure invoicing and payments processing.
You may cancel your membership at any time by sending an email to .(JavaScript must be enabled to view this email address).

  • Ask
  • Vote
  • Investigate
  • Answer

Noozhawk Asks: What’s Your Question?

Welcome to Noozhawk Asks, a new feature in which you ask the questions, you help decide what Noozhawk investigates, and you work with us to find the answers.

Here’s how it works: You share your questions with us in the nearby box. In some cases, we may work with you to find the answers. In others, we may ask you to vote on your top choices to help us narrow the scope. And we’ll be regularly asking you for your feedback on a specific issue or topic.

We also expect to work together with the reader who asked the winning questions to find the answer together. Noozhawk’s objective is to come at questions from a place of curiosity and openness, and we believe a transparent collaboration is the key to achieve it.

The results of our investigation will be published here in this Noozhawk Asks section. Once or twice a month, we plan to do a review of what was asked and answered.

Thanks for asking!

Click Here to Get Started >

Reader Comments

Noozhawk is no longer accepting reader comments on our articles. Click here for the announcement. Readers are instead invited to submit letters to the editor by emailing them to [email protected]. Please provide your full name and community, as well as contact information for verification purposes only.

Daily Noozhawk

Subscribe to Noozhawk's A.M. Report, our free e-Bulletin sent out every day at 4:15 a.m. with Noozhawk's top stories, hand-picked by the editors.

Sign Up Now >

Meet Your Realtor Sponsored by Village Properties

Photo of Patricia Griffin
Patricia Griffin
"I am very hands on and feel that each transaction is special and different. My clients goals are foremost in what I do to bring about a successful transaction and I maintain relationships for many years."

Full Profile >