Wells Fargo Invests $250,000 in Santa Barbara Womens' Fund

Keywords:

Minority Business Loans

SBA

Women's Economic Ventures of Santa Barbara, California, established its Small Business Loan Fund in 1995.

To date, WEV has made approximately $2.1 million in loans, helping small business owners succeed with ventures such as construction, photography, fine art galleries, graphic design, transaction services, custom tailoring, publishing, oriental medicine and senior assisted living services.

Women's Economic Ventures of Santa Barbara recently received a $250,000 equity equivalent investment loan from Wells Fargo to fund its Small Business Loan Fund, which provides startup and expansion capital to small businesses that do not qualify for conventional bank financing.

"Wells Fargo is the single largest investor in WEV's Small Business Loan Fund," said Judy Hawkins, executive director of Women's Economic Ventures and the Small Business Loan Fund. "With this investment, Wells Fargo will help WEV extend funding in Santa Barbara and Ventura counties to create jobs for low and moderateincome people, including women and minorities, and support business expansion of womanowned and minority-owned businesses."