Wells Fargo Commits $100,000 in Funds for Micro Grant Program to Strengthen Small Hispanic Businesses

WASHINGTON, Dec. 11, 2013 (GLOBE NEWSWIRE) -- The United States Hispanic Chamber of Commerce (USHCC) Foundation has opened its application process for local Hispanic chambers nationwide to access micro grants totaling $100,000, generously committed by Wells Fargo. These grants will be targeted towards programs that strengthen and foster growth within small business communities.

Grants will be available in funding levels of $20,000 and $10,000. The grants will expand and develop programs targeted towards their business membership. The application closes February 14, 2014, and recipients will be announced during the 2014 USHCC Legislative Summit in Washington, DC.

"The USHCC Foundation is proud to offer valuable micro grants that will allow local chambers of commerce to expand their programs, better serve their members and empower the communities which they serve," said USHCC President & CEO Javier Palomarez. "At the USHCC, we understand the pivotal role local chambers play in fostering the growth of Hispanic entrepreneurs, and we are confident these micro grants will further that purpose. We'd like to thank Wells Fargo for their generosity and unwavering commitment to America's Hispanic business community."

"At Wells Fargo, we know the importance of supporting Latino entrepreneurs and small businesses across the country," said Greg Winegardner, Regional President for Wells Fargo and USHCC Board of Director. "These are businesses that create jobs and strong, vibrant communities. We want to do our part to make sure that entrepreneurs continue to be a vital presence in our communities, and this grant is an example of our commitment."

The United States Hispanic Chamber of Commerce (USHCC) Foundation is dedicated to enriching Hispanic experiences in the world of business through life-long learning and support. The Foundation's initiatives awaken and nurture the entrepreneurial spirit, support business growth, strengthen local chambers and foster leaders.

About the USHCC

Founded in 1979, the USHCC actively promotes the economic growth and development of Hispanic entrepreneurs and represents the interests of over 3.2 million Hispanic owned businesses across the United States that contribute in excess of $468 billion to the American economy each year. It also serves as the umbrella organization for more than 200 local Hispanic chambers and business associations in the United States and Puerto Rico. For more information, visit www.USHCC.com

About the USHCC Foundation

The USHCC Foundation is committed to giving Latino entrepreneurs alternatives for life preparation and life-long learning by developing and implementing initiatives and educational campaigns to awaken and nurture their entrepreneurial spirit. The Foundation leverages corporate and public support to ensure that existing and aspiring Latino entrepreneurs gain access and achieve success in the world of business. Please visit www.ushccfoundation.org for more information on the USHCC Foundation.

About Wells Fargo

Wells Fargo & Company (NYSE:WFC) is a nationwide, diversified, community-based financial services company with $1.5 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, and the Internet (wellsfargo.com), and has offices in more than 35 countries to support the bank's customers who conduct business in the global economy. Wells Fargo loans more money to America's small businesses than any other bank (2002-2012 Community Reinvestment Act government data) and is a leading lender to women- and diverse-owned businesses.Since 1997, Wells Fargo has loaned more than $6.3 billion to Latino business owners.With more than 270,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 25 on Fortune's 2013 rankings of America's largest corporations. Wells Fargo's vision is to satisfy all our customers' financial needs and help them succeed financially. In 2012, the Company invested $315.8 million in grants to 19,500 nonprofits, and team members contributed more than 1.5 million volunteer hours around the country. For more information, please visit: www.wellsfargo.com/about/csr. Wells Fargo perspectives are also available at blogs.wellsfargo.com.

CONTACT: Valentina Pereda USHCC Director of Communications 202-489-2932Source:United States Hispanic Chamber of Commerce