Wells Fargo to announce plan to help small business owners

ATLANTA (AP): Wells Fargo plans to announce an initiative to help Atlanta small business owners.

Details are expected to be announced at a Friday morning news conference in Atlanta.

The effort involves the company’s Open for Business Fund, which was created in the summer of 2020 to help small businesses stay open during the COVID-19 pandemic, company officials said.

The fund has focused on racially and ethnically diverse small businesses, which have been disproportionately impacted by the pandemic, officials said.

The Open for Business Fund is part of the bank’s efforts to increase economic opportunity for small businesses. That includes helping small business owners to own more of their business assets, including property and equipment and to enable them to upgrade their facilities, the company said.