Wells Fargo and the United States Hispanic Chamber of Commerce Announce Expansion of Innovative Small Business Accelerator Program to 5 New Markets
WASHINGTON, April 27, 2020 /PRNewswire-HISPANIC PR WIRE/ -- Wells Fargo & Company and the United States Hispanic Chamber of Commerce (USHCC) are proud to announce the expansion into five new markets represented by dynamic Hispanic Chamber of Commerce members of the USHCC for the Avanzar Small Business Accelerator Program, making it a total of seven American cities in 2020 receiving small business assistance.
Avanzar ('advance' in Spanish) is an eight-month business accelerator designed for Hispanic small businesses that are ready to take their businesses to the next level. Each Latina and Latino entrepreneur participates in courses that are aimed to help develop business plans, strategy, and the leadership skills needed to scale their small businesses. Course topics include building financial plans, streamlining operations, lowering expenses, marketing, leveraging social media, and obtaining access to capital for each business. Subject matter experts, from Wells Fargo, will provide the access to capital training. Throughout the Avanzar Program the USHCC Chambers will track and monitor certain performance metrics with the Hispanic Business Enterprises (HBEs) in the Avanzar Program, including jobs created, access to capital and access to contract opportunities.
In 2019, Wells Fargo and the USHCC piloted the Avanzar program in partnership with the Albuquerque Hispano Chamber of Commerce in Albuquerque, New Mexico and the Latin American Chamber of Commerce of Charlotte in Charlotte, North Carolina.
"Wells Fargo is proud to be the founding sponsor of the Avanzar program. We fundamentally believe that capacity building, access to capital, and effective mentoring are critical ways to ensure that Hispanic-owned businesses grow and scale. The Avanzar program is about empowering Hispanic business owners to grow sustainable firms that create jobs in communities all across the United States," said Regina Heyward, Senior Vice President and Head of Supplier Diversity at Wells Fargo.
During COVID-19, the USHCC and Wells Fargo have been working diligently and collaboratively to ensure that Hispanic businesses have access to the information and resources they need to get past these difficult times. By leveraging technology to deploy capacity-building programs, USHCC and Wells Fargo will make assistance available to help small diverse businesses grow, scale and rebuild.
In 2020, five new market regions have been selected to invest and expand the Avanzar program by partnering with five local Hispanic Chambers of Commerce. The five local chambers selected by the USHCC as partners are:
Los Angeles Latino Chamber of Commerce
Latin Chamber of Commerce of Las Vegas Nevada
Arizona Hispanic Chamber of Commerce
Georgia Hispanic Chamber of Commerce
Hispanic Chamber of Commerce of Metro Orlando & Prospera
"We are very excited to expand Avanzar to five new cities thanks to the support from Regina Heyward, on behalf of Wells Fargo, and the great results from our first pilot thanks to Rocio Gonzalez, President and CEO of the Latin American Chamber of Commerce of Charlotte and Ernie C'De Baca, President and CEO of the Albuquerque Hispano Chamber of Commerce," said Ramiro A. Cavazos, USHCC President and CEO. "Wells Fargo's investment in Avanzar proves their commitment to helping support Latina and Latino entrepreneurs, America's fastest growing business group, and our Hispanic Chambers across the country."
Questions may be submitted to [email protected].
About Wells Fargo
Wells Fargo & Company is a diversified, community-based financial services company with $1.98 trillion in assets. Wells Fargo's vision is to satisfy our customers' financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, investment and mortgage products and services, as well as consumer and commercial finance, through 7,400 locations, more than 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 31 countries and territories to support customers who conduct business in the global economy. With approximately 263,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 29 on Fortune's 2019 rankings of America's largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.
SOURCE United States Hispanic Chamber of Commerce
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