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Business Politics

Wells Fargo Commitment Could Potentially Result in Billions for Small Businesses

Given the federal government's extension of the PPP, Wells Fargo will reopen its PPP loan application process to eligible customers as soon as possible through a link in Business Online Banking, the bank noted in a news release.NNPA NEWSWIRE — “We also noticed that diverse individuals were having a very negative impact, and with the data, it was coming to 41 percent or 450,000 Black-owned businesses closed when COVID hit. That is a disproportionate impact not only to the entrepreneurs but also to the employees they have and the pocketbook,” said Jenny Flores, Wells Fargo’s head of small business growth philanthropy.

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