Enable Ginger
or reload the browserDisable in this text fieldEditEdit in GingerEdit in Ginger×
Enable Ginger
or reload the browserDisable in this text fieldEditEdit in GingerEdit in Ginger×
Enable Ginger
or reload the browserDisable in this text fieldEditEdit in GingerEdit in Ginger×
Enable Ginger
or reload the browserDisable in this text fieldEditEdit in GingerEdit in Ginger×
Enable Ginger
or reload the browserDisable in this text fieldEditEdit in GingerEdit in Ginger×
Enable Ginger
or reload the browserDisable in this text fieldEditEdit in GingerEdit in Ginger×
Enable Ginger
or reload the browserDisable in this text fieldEditEdit in GingerEdit in Ginger×
Enable Ginger
Iowa Community Capital expands microlending reach to Black community
$500,000 grant from Wells Fargo will boost programâs capacity Friday, January 15, 2021 6:00 AM Before the pandemic, business was “going really well” for Margaret Ajawin’s north Des Moines grocery and specialty shop, African Express. The South Sudanese immigrant started the small shop in 2015 to provide a selection of native grocery items tailored to the immigrant communities from African countries. Using microloans from Solidarity Microfinance for buying inventory, she built up a steady clientele and over time broadened her offerings to African clothing as well as jewelry, hair products, cosmetics and beauty products. She also got a license to sell beer, wine and cigarettes.
Wells Fargo donates $500,000 for minority microloan programs building entrepreneurship in Des Moines Tyler Jett, Des Moines Register
Wells Fargo & Co. has donated $500,000 to Des Moines organizations that provide small loans to minority entrepreneurs.
Popular Searches
About half of the donation will go to Solidarity Microfinance, which provides loans starting at $1,000 to self-employed workers who get turned away from traditional lenders like banks, often because of problems such as low credit scores.
The rest of Wells Fargo s local donation will go to two organizations with similar operations, Iowa MicroLoan and One Economy Financial Development Corp.
Mark Edelman, chair of the nonprofit that oversees Solidarity Microfinance, said the organization has never received such a large grant. He said the lender s client base increased 56% this summer, mostly because family members lost their jobs as a result of the pandemic.