Submitted by Wells Fargo & Company
Seven nonprofit agencies throughout California that provide technical assistance to selected small businesses in the state will share in a $350,000 grant from Wells Fargo called the Technical Assistance Initiative.
"Wells Fargo understands the important role that technical-assistance providers play in increasing the productivity and efficiency of small businesses," said Tim Hanlon, president of the Wells Fargo Foundation. "These providers strengthen small businesses, and through our grant, we want to help them provide further outreach to small businesses."
Wells Fargo teamed with the California Reinvestment Committee (CRC) to design the Technical Assistance Initiative and solicited proposals from some 250 nonprofit organizations providing technical assistance. Fifty-four agencies submitted proposals, which Wells Fargo and CRC members reviewed.
The seven winners are:
El Pajaro Community Development - Watsonville
MEDA (Mission Economic Development Association) - San Francisco
Pacific Asian Consortium in Employment and Asian Revolving Loan of Los Angeles - Los Angeles
Vermont Slauson Development Corporation - Los Angeles
West Contra Costa Business Development Center - Richmond
West Enterprise Center (West Company) - Ukiah
Women's Economic Ventures - Santa Barbara
Selection of the winners was based on how well they met the following criteria:
Demonstrated ability to deliver effective technical-assistance programs to the target group of small businesses;
History of providing measurable, effective technical-assistance programs in their community;
Sound fiscal management practices;
Proven experience and skills of the management team and program staff; and
Ability to accurately collect and analyze data on the programs' effectiveness.
"We're going to track the progress of these technical-assistance providers, and we hope by year end to see the concrete differences that their work, and our grant, have made among the small businesses we've targeted," said Hanlon.
Wells Fargo & Company, the largest bank headquartered in California, is a diversified financial services company with $218 billion in assets, providing banking, insurance, investments, mortgage and consumer finance from 5,310 stores and the Internet (wellsfargo.com) across North America and elsewhere internationally.
More from Wells Fargo & Company