Wells Fargo Invests $200,000 in California Hispanic Business Development

Wells Fargo & Company (NYSE:WFC) today presented a $200,000 grant to the California Hispanic Chambers of Commerce (CHCC) to assist in the economic recovery of Hispanic-owned businesses through leadership training, business development courses and economic development programs.

The grant, announced at a news conference in San Diego, reflects the success of the CHCC and Wells Fargo’s longstanding commitment to helping Hispanic entrepreneurs succeed financially.

"Hispanic business owners are an important force in California and this grant will help provide them new tools and resources to further their success,” said Tim Rios, Wells Fargo senior vice president of Corporate Community Development and the national spokesperson for Wells Fargo’s Latino Business Services program. "We’re proud to continue working with the California Hispanic Chambers of Commerce and believe in the great work they do to support Hispanic businesses and California’s economy.”

"Wells Fargo has been part of the growth of the CHCC and Hispanic businesses in California,” said Joel Ayala, President and CEO of the CHCC. "Wells Fargo understands and appreciates the important role Hispanic businesses will play in our state’s economic recovery.”

Since 2000, Wells Fargo, through its Latino Business Services Program, has worked with the CHCC to recognize, develop and support Latino Business owners. Established in 1997, Latino Business Services helps Latino business owners increase their access to capital and other financial services. Wells Fargo has loaned $5 billion to thousands of Latino business owners nationwide since the program’s inception.

The California Hispanic Chambers of Commerce (CHCC, www.cahcc.com.) is the largest regional organization representing the Hispanic business community. Through a network of over 65 Hispanic chambers and business associations, the CHCC represents the interests of over 720,000 Hispanic-owned businesses and provides advocacy, empowerment and education for California’s emerging businesses.

Wells Fargo & Company is a diversified financial services company with $1.3 trillion in assets, providing banking, insurance, investments, mortgage and consumer finance through more than 10,400 stores, over 12,000 ATMs and the internet (wellsfargo.com) across North America and internationally.

Wells Fargo is America’s #1 small business lender in total Dollar volume according to the most recent Community Reinvestment Act data (2007) and the #1 SBA 7a national bank lender in total dollar volume (2008). Wells Fargo has loaned $39 billion to women, African American, Latino and Asian business owners since 1995. For more information, speak with a Wells Fargo banker, visit wellsfargo.com/biz or call the National Business Banking Center at 1-800-CALL-WELLS.

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