The announcement came after the company stated giving away all proceeds from its participation in the Payroll Protection Program. At least USD 28 million is earmarked for non-profit community lenders catering to Black entrepreneurs, according to Reuters.
More than half of all small business owners do not expect to grow revenue over the next 12 months, a Wells Fargo survey found. The pandemic has shuttered Black-owned businesses at twice the rate of small businesses overall. As of June 2020, Wells Fargo funded USD 10.1 billion in PPP loans and focused its participation on smaller business owners.
The Paypers is the Netherlands-based leading independent source of news and intelligence for professional in the global payment community.
The Paypers provides a wide range of news and analysis products aimed at keeping the ecommerce, fintech, and payment professionals informed about the latest developments in the industry.
Current themes
No part of this site can be reproduced without explicit permission of The Paypers (v2.7).
Privacy Policy / Cookie Statement
Copyright